EUR 6,000 Fine for Delayed Directors' Dealings Notification
Summary
The Austrian FMA imposed a fine of EUR 6,000 on a management board member of an issuer for failing to make mandatory Directors' dealings notifications within three business days of trades. The individual had exceeded the EUR 20,000 annual threshold for reporting proprietary trading activities but did not notify the FMA or the issuer as required. Proceedings concluded under accelerated procedures pursuant to Article 22 para. 2b of the Financial Market Authority Act, with the penal order for breach of the Market Abuse Regulation (EU) 596/2014 now final.
“The member of the management board in questions had bought shares in the issuer on multiple occasions in the calendar year in question, but failed, having exceeded the threshold for reporting such transactions (EUR 20,000 within a calendar year) to make a mandatory notification about proprietary trading activities (Directors' dealings notification) at latest three business days following the date of the trade to the FMA and the issuer respectively.”
Management board members and persons discharging managerial responsibilities at MAR-regulated issuers should verify their Directors' dealings notification procedures are operating with a buffer well under the three-business-day deadline, particularly for multiple trades that may aggregate above the EUR 20,000 threshold. The FMA's use of accelerated proceedings under Article 22 para. 2b FMABG indicates that even straightforward threshold exceedances without notification can result in financial penalties.
About this source
GovPing monitors Austrian FMA News for new banking & finance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 22 changes logged to date.
What changed
The FMA imposed a fine of EUR 6,000 on a management board member for breaching Article 17 of the Market Abuse Regulation (EU) 596/2014. The individual failed to make mandatory Directors' dealings notifications within three business days of share purchases that collectively exceeded the EUR 20,000 annual reporting threshold. The violation was concluded under accelerated proceedings, and the penal order is final. Management board members, insiders, and persons closely associated with them at MAR-regulated issuers should ensure timely notification upon exceeding the reporting threshold, as enforcement action under accelerated procedures can result in monetary penalties even for routine trading activity.
Penalties
EUR 6,000 fine
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Announcement: the FMA imposes a sanction against a private person for the delayed notification of a proprietary trade
- April 2026
- Sanction The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 6,000 on a management board member of an issuer. Proceedings were concluded under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The penal order was issued for a breach against the Market Abuse Regulation (MAR, Regulation (EU) 596/2014). The member of the management board in questions had bought shares in the issuer on multiple occasions in the calendar year in question, but failed, having exceeded the threshold for reporting such transactions (EUR 20,000 within a calendar year) to make a mandatory notification about proprietary trading activities (Directors’ dealings notification) at latest three business days following the date of the trade to the FMA and the issuer respectively. The penal order is final.
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