The Austrian Financial Market Authority (FMA) has issued a penal order imposing a EUR 9,000 fine on a supervisory board member of an issuer. The sanction is due to a violation of the Market Abuse Regulation (MAR), specifically the failure to submit mandatory notifications regarding proprietary trading activities (Directors' Dealings) to the FMA and the issuer within the stipulated three business days. The penal order is final.

This enforcement action highlights the critical importance of timely and accurate reporting of directors' dealings under MAR. Regulated individuals, particularly those in supervisory roles, must ensure they adhere strictly to the notification deadlines to avoid penalties. Compliance officers should review internal procedures for monitoring and reporting such transactions to ensure adherence to the three-day rule.