YOC AG: Fines proceedings of BaFin ended by mutual agreement
Berlin, October 1st 2019 – YOC AG (ISIN DE0005932735) announces that the fine proceedings of the Federal Financial Supervisory Authority (BaFin) have been terminated by way of settlement. This settlement takes into account in particular the cooperation of YOC AG in clarifying the facts of the case. The payment to BaFin resulting from the settlement amounts to EUR 45,000.
The background to the proceedings was the failure to include the assurance of the legal representatives in the half-year financial reports 2016 and 2017 pursuant to Section 264 (2) sentence 3 and Section 289 (1) sentence 5 of the German Commercial Code. The accuracy of the financial information is and was not in question.