Volkswagen fined $1.3 million by German regulator over forecast disclosure issues

Germany's financial regulator BaFin imposed a fine of €1.2 million (approximately $1.3 million) on Volkswagen, finding that the automaker failed to timely and compliantly disclose material information that could impact the market. On Friday, the regulator announced that Volkswagen's 2023 fiscal year forecast significantly exceeded market expectations; given the operational situation reflected in this forecast, the German carmaker should have issued an ad-hoc announcement to the financial markets.