On 3 June 2020, BEL FSMA settled with firms for late transactions disclosure.
- BEL FSA agreed settlement of €55,000 between Sopal International SA and Frabelco SA, and a nominative publication on the FSMA website for late reported transactions.
- Mr Francis Lambilliotte was vice-chairman of the board of directors of Hamon & Cie NV from 28 April 2015 - 23 April 2019, during that period he was audit committee member.
- Also chairman of strategy committee with managerial responsibilities under EU Market Abuse Regulation, he is managing director of Sopal International NV and Frabelco NV.
- As a result, both of these companies were closely associated with a person with managerial responsibility within the meaning of the Market Abuse Regulation (MAR).
- Under MAR, persons with managerial responsibility, persons closely associated with them must inform issuer and FSMA of all transactions involving shares of that issuer.
- This information must be supplied within three business days of date of transaction.
- The FSMA investigation revealed that in 2018 and early 2019, Sopal International NV late reported five transactions for a total volume of 1,302,517 Hamon shares.
- FSMA also found that Frabelco NV late reported five transactions for a total volume of 8,374,290 Hamon shares, and that these delays ranged from 1 day to 1 year.
- FSMA agreed settlement after both parties cooperated, whereby Sopal pays €15,000, Frabelco NV pays €40,000, details published FSMA's website for both companies.