Sweden – FI Fines for Late Major Shareholding Reporting

Sweden – FI Fines for Late Major Shareholding Reporting

On 8 June 2020, SWE FI fined Cambridge Global major shareholding reports

  • Cambridge Global Asset Management, CI Investments Inc. fined SEK 25k for failing to report changes in major shareholdings in Byggmax Group AB within the time limit.
  • Sanction issued according to the act on trading in financial instruments (1991:980).


  • An initial notification was submitted on 22 December 2017 and corrected on 4 January 2018.
  • SWE FI responded to initial notification, which was submitted one day late, with request that company amend notification with correct national identification number.
  • Company answered the same day, requesting further information by received no reply.
  • It then followed up on the issue after the New Year weekend and issued an updated notification on 4 January 2018, the same day it received further guidance from SWE FI.

SWE FI Assessment

  • It is up to the notifier to ensure the information specified in the notification is correct.
  • The company is only considered to have fulfilled its notification requirement on 4 January 2018.
  • But when considering the size of penalty, SWE FI will assume notification on 22 December 2017.