FIN-FSA imposes three fines for delays in disclosure of major shareholdings

Chris Hamblin

11 March 2015

The firms are being fined for not disclosing significant holdings and voting rights within the deadline stipulated in chap9 s9 subs1 Securities Markets Act. Kauppahuone Laakkonen Oy is to pay €10,000, Rakennusmestarien Säätiö €5,000 and Sp-Rahastoyhtiö Oy €20,000.

The rationale behind the valuation of the fines comes from s38 Financial Supervisory Authority Act (878/2008), but the regulator is nonetheless saying that its decisions to impose fines are not yet legally binding.