The Federal Office of Justice (BfJ) imposed a €50,000 disciplinary fine on pferdewetten.de AG on November 7, 2025, for violations related to the publication of financial reports under German securities law (WpHG - Wertpapierhandelsgesetz). This enforcement action underscores regulatory expectations for timely and accurate financial disclosure compliance, particularly for publicly traded or regulated entities in the gaming/betting sector.
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What Changed
Based on the enforcement context, the regulatory requirements at issue involve:
Financial Reporting Obligations: Entities subject to WpHG must publish financial reports in accordance with statutory deadlines and content requirements
Disclosure Standards: Reports must meet quality and completeness standards established under German securities law
Enforcement Mechanism: The BfJ has authority to impose disciplinary fines for non-compliance with publication requirements
No Safe Harbor: Delayed or d
What You Need To Do
- *Audit Current Compliance
- *Strengthen Internal Controls
- *Document Procedures
- *Monitor Deadlines
- *Legal Review
Key Dates
November 7, 2025 - BfJ imposed €50,000 disciplinary fine on pferdewetten.de AG
January 15, 2026 - BaFin published enforcement action notice
Ongoing - WpHG financial reporting obligations remain in effect with no stated grace period modifications
Compliance Impact
Urgency Rating: HIGH