FIN-FSA imposes penalty payment on Evli Fund Management Company Ltd for delay in notification of major holdings

Regulation on the notification of major holdings aims to promote transparency of the structure of holdings and voting power in issuers, and of changes therein. Information disclosed on the basis of the notification obligation may also have an impact on the value of the target company’s securities.

According to the Act on the Financial Supervisory Authority, the amount of a penalty payment is based on an overall assessment. In assessing the amount of the penalty payment, consideration has been given, among other things, to the nature and duration of the conduct. The penalty payment is ordered payable to the State.

The decision on the imposition of a penalty payment is not yet legally binding. The company has the right to appeal the decision to the Helsinki Administrative Court within 30 days of receipt of notice of the decision.

Further information

Sonja Lohse, Chief Advisor

Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, weekdays 9.00–16.00.

Appendices

Decision by the Financial Supervisory Authority (in Finnish)

See also

• Administrative sanctions
• Supervisory measures