• 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).

Facts

• 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.