• SWE FI issued SEK 75,000 fine for failing to properly report substantial shareholding transactions.

Overview

• Concerns fine according to act (2016:1306) with supplementary provisions of MAR.
• Case relates to purchase by Waldakt Aktiebolag (WA) of shares in Resurs Holding AB.
• Individual within WA is related to a person in a leading position in Resurs, so the former is obliged to notify FI of shareholdings no later than 3 trading days following the transaction.
• Correct notification received one month late, FI investigated whether WA had infringed transparency obligation under MAR article 19, set a fine of SEK 150,000 accordingly.
• Amount based on the size of the transactions and the fact that notification errors were corrected quickly; then reduced to SEK 75,000 given the long processing time of the investigation.

Next Steps

• WA can appeal; SWE FI will invoice the fee when the decision has become final.