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Bafin imposes fine on Nomura Holdings Inc. for WpHG breach

On 15 October 2026, Bafin fined Nomura Holdings Inc. €320,000 for failing to submit voting rights notifications during UniCredit S.p.A.’s takeover bid for Commerzbank AG in May and June 2026.

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On 15 October 2026, the Federal Financial Supervisory Authority (Bafin) imposed an administrative fine of €320,000 on Nomura Holdings Inc. for breaching supervisory duties related to the German Securities Trading Act (WpHG).

Bafin relied on the German Securities Trading Act (WpHG) for this enforcement action.

The fine applies specifically to Nomura Holdings Inc., which failed to submit required voting rights notifications during UniCredit S.p.A.’s takeover bid for Commerzbank AG in May and June 2026.

Source: BaFin, official publication, retrieved 2026-10-20

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