Sanctions Committee
The Sanctions Committee is the youngest exchange body of EEX. An ordinance by the Saxon Ministry of Economic Affairs and Labour of 19 January 2009 paved the way for its establishment.
According to the German Exchange Act, the Sanctions Committee can penalise a trading participant with a reprimand, a fine of up to EUR 250,000 or the exclusion from the exchange in case the trading participant violates regulatory provisions under exchange legislation.
At the moment, the Sanctions Committee of EEX has 2 chairmen and in total 5 committee members, who carry out their tasks on a voluntary basis and who are neither members of other bodies of the exchange nor employees of the Exchange Supervisory Authority. The Sanctions Committee takes action at the request of the Management Board of the Exchange or of the Exchange Supervisory Authority and establishes the facts and circumstances of the respective case ex officio.
The Sanctions Committee’s independence is also safeguarded by a far-reaching provision regarding conflicts of interest, which e.g. establishes that members of the Sanctions Committee are not allowed to participate in decisions in the event that they are affected by such or that they are involved in the matter on which such decision is based.
The punishment of a given behaviour by the Sanctions Committee does not preclude its further prosecution under criminal, regulatory or civil law. The Sanctions Committee exclusively discharges the tasks assigned to it in the public interest.
Chairmen:
Prof. Dr. Ulrich Ehricke LL.M., M.A.; University Cologne
Prof. Dr. Jürgen Kühling, LL.M.; University Regensburg
Committee Members:
Pierre Chevalier, DB Energie GmbH
Marc Ehry, PCC Energie GmbH
Ralf Henze, Stadtwerke Hannover AG
Vincent van Lith, Deutsche Bank Aktiengesellschft
Dr. Bernhard Walter, EnBW Trading GmbH
