The money office BaFin punishes the car maker Volkswagen. VW must pay 1,2 million euro. The reason is a bad report. VW hoped for good numbers in 2023. This hope was much better than thought. This is an insider info. Such info can change stock prices. Firms must tell this info at once. This is a duty. VW wrote the info only in a news text. This was not enough for the BaFin. The BaFin wants fair rules for all people at the market. No one gets an unfair help. VW accepts the fine now. The firm says: We did all things right. All people knew the facts.
Fine for Volkswagen
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Definitions
- BaFin
- The BaFin watches banks and trade with shares.
- Duty
- This is a strict rule for firms. They must tell news at once.
- Insider info
- This is secret knowledge about a firm. It changes stock prices.
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