Sanctions Committee

Sanctions CommitteeImposition of sanctions for violations of exchange regulations

The Sanctions Committee is a body of the exchange. Its task is to impose sanctions for the violation of exchange regulations by trading members or issuers of exchange regulations that aim to ensure the orderly conduct of trading activities at the exchange or the settlement of exchange trading.

Should a trading member violate exchange regulations intentionally or through negligence, the Sanctions Committee can issue ...

  • a reprimand,
  • impose a fine of up to EUR 250,000 or
  • exclude the member from the exchange for up to 30 trading days.

Should an issuer violate the duties associated with admission, the Sanction Committee can issue

  • a reprimand or
  • impose a fine of up to EUR 250,000.

The Sanctions Committee of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange)
comprises a Chairman and two assessors, whom the Exchange Council selects from among the trading members and issuers. In its decisions it is not subject to instructions from the Management Board of the exchange or the operating company of the exchange; it is subject solely to supervision by the Exchange Supervisory Authority.