The Federal Financial Supervisory Authority identified discrepancies in May and June, noting that Nomura breached mandatory reporting windows. Under local market rules, shareholders must notify both the issuer and the regulator within four trading days when their holdings cross specific voting thresholds. Nomura, which participated in the tender process for the hostile bid, declined to provide specifics on the regulatory lapse but stated the firm remains committed to compliance.
In section Market Quotes
Nomura Fined for Missing Commerzbank Disclosure Deadlines
German regulator BaFin has issued a 320,000 euro fine to Nomura Holdings following the Japanese bank’s failure to report changes in its voting rights during UniCredit’s aggressive pursuit of Commerzbank. The penalty highlights the strict regulatory oversight surrounding the high-stakes takeover battle that has reshaped the German banking landscape this year.
This administrative penalty coincides with a critical juncture for UniCredit. Having secured approval from the European Central Bank last week, the Italian lender is rapidly consolidating its position. Following a hostile offer initiated in July, UniCredit now commands a 47.6% stake in Commerzbank, effectively positioning itself to gain full control of the German institution.
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