BONN/MUNICH (dpa-AFX) - The Munich-based engine manufacturer MTU is to pay around half a million euros for the late disclosure of insider information. The financial supervisory authority Bafin imposed a fine of 510,000 euros on the DAX-listed company, as it announced on Wednesday. MTU had violated the ad hoc publicity obligation of the Market Abuse Regulation. When asked, Bafin did not specify which case was involved. The DAX-listed company can still appeal against the fine. No one at MTU was initially available for comment.

Bafin explained that companies listed on the stock exchange in Germany must publish insider information immediately. This applies to information that is not publicly known but could have a significant impact on the price of a financial instrument when it becomes known. Immediate publication is intended to prevent insiders from using their knowledge to gain an advantage when trading in securities. And it should ensure that investors are not misled in their investment decisions./stw/mis