BaFin Imposes Fine on flatexDEGIRO SE
German regulator BaFin fined broker flatexDEGIRO €1 million for delaying disclosure of insider information about a 2022 special audit, violating MAR rules.
On 20 April 2026, Germany's financial regulator BaFin imposed a €1 million fine on flatexDEGIRO SE for violating the Market Abuse Regulation (MAR). The penalty stems from the company's failure to promptly disclose insider information in late 2022.
The insider information related to the findings of a special audit of flatexDEGIRO Bank AG conducted under Section 44 of the German Banking Act (KWG). The audit revealed deficiencies in the bank's business organisation regarding compliance with KWG requirements.
Under MAR, companies listed on an organised market in Germany must immediately publish any inside information via an ad-hoc announcement. Instead, flatexDEGIRO initially published the audit results belatedly as a press release, which does not satisfy the ad-hoc disclosure obligation.
BaFin noted that the violation occurred at the end of 2022. The maximum fine for such a breach is €2.5 million or up to 2% of the company's annual total turnover. The €1 million penalty reflects the gravity of the delayed disclosure and its potential impact on market transparency.
Source: flatex