Wednesday March 4 2015

News Source: Global Disclosures

Focus: Shareholder Disclosure Sanctions

Type: General

Country: Finland




The Financial Supervisory Authority has announced that it has imposed administrative fines on Kauppahuone Laakkonen Oy, Rakennusmestarien Säätiö and Sp-Rahastoyhtiö Oy (Sp-Fund Management Company Ltd) for failure to comply with the obligation to disclose major shareholdings, as laid down in the Securities Markets Act (746/2012). The entities subject to the notification obligation had not disclosed significant holdings and voting rights within the deadline stipulated in chapter 9 section 9 subsection 1 of the Securities Markets Act.
The amount of the fines are set out below (in Euro).

  • Kauppahuone Laakkonen Oy 10,000
  • Rakennusmestarien Säätiö 5,000
  • Sp-Rahastoyhtiö Oy 20,000

The disclosure notifications were submitted between two weeks and five months late.

Click on the above link for more details.