On 15 January 2021, Sweden's regulator, Finansinspektionen has fined two firms for late shareholding disclosure in Nordic Flanges Group AB. Both Brax Investments and Bees Invest will pay SEK 2,400,000.
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U.K. – FCA Shareholding Disclosures
On 28 December 2020, UK FCA issued updated indicative list of instruments subject to the shareholding notification requirement under FSMA S 89F(1)(b), and according to DTR 5. The list, as of 1 January 2021 includes: transferable securities; options; futures; swaps; forward rate agreements; contracts for differences; any other contracts or agreements with similar economic effects…
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Germany – BaFin Fines for Late Shareholding Reporting
On 23 December 2020, GE BaFin fined Groupama €130k for shareholding disclosure violations. BaFin announced imposition of fine of €130k on Groupama Asset Management. Groupama did not submit voting rights notifications on time, contrary to s 130(1) of the Administrative Offenses Act in conjunction with s 33(1) of Securities Trading Act.
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Sweden – FI Fines for Late Shareholding Disclosure
On 25 November 2020, SWE FI issued penalty for transparency notification. Issued decision on FAM AB SEK 570,000 penalty fee for late transparency notification. FAM AB failed to report Aktiebolaget SKF (SKF) shares transaction in prescribed time. SWE FI issued penalty according to chapter 5, section 2, section 5 of the Act (2016: 1306), together…
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U.K. – FCA Shareholding Disclosures
On 23 November 2020, UK FCA issued update email on notifications under DTR5. UK FCA announced change to the way in which investors must submit the standard form for notification of major shareholdings (TR-1 form) under Disclosure Guidance and Transparency Rules Chapter 5 (DTR5); the change will be introduced in Q1 2021. FCA want to…
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Sweden – FI Fines for Late Shareholding Reporting
On 4 November 2020, the Swedish regulator, Finansinspektionen issued a fine for late reporting of transactions in shares. F. Holmström Fastigheter AB shall pay a penalty of SEK 1650,000
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