Volkswagen: Group has to pay a fine – because it was too successful

Volkswagen has to pay a fine of 1.2 million euros for violating capital market regulations. The group did not comply with the Market Abuse Regulation, said the financial regulator Bafin. The background is that Volkswagen's forecast for the 2023 financial year was significantly above market expectations. In a sense, the company is being punished because it was too successful.

It was said that the company should have communicated the business expectations reflected in the forecast immediately (ad hoc). Instead, Volkswagen only published the insider information in a press release. The Wolfsburg-based company could lodge an objection against the fine. 2023 is considered the last good year in VW's recent history.

The ad hoc rules stipulate that companies must immediately publish insider information if it is likely to significantly influence the price of shares or other securities. This also includes business figures that differ significantly from the expectations of analysts and other market participants. This is intended to prevent insiders from gaining advantages on the stock market through their knowledge advantage. Violations can result in relatively low fines of up to 2.5 million euros.