Stockholm Stock Exchange: Stockholm Stock Exchange's Disciplinary Committee Fines Erik Penser Fondkommission.STOCKHOLM, Sweden -- Erik Penser Fondkommission (EPF EPF early pregnancy factor. ) has contravened the Stockholm Stock Exchange's rules by buying and selling AstraZeneca shares on its own account in a manner that resulted in EPF conducting business with itself. In a large number of cases, this practice also influenced the price of the shares. Accordingly, the Stockholm Stock Exchange's Disciplinary Committee has ruled that EPF must pay a fine of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300,000. EPF is a member of the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. . According to the Stockholm Stock Exchange's rules for Exchange members, members must place orders in the trading system in such a manner that the orders do not intentionally result in an internal transaction. In this context, an internal transaction is defined as when the buyer and the seller are the same natural or legal entity. Nor may the member place an order or implement transactions in a manner intended to improperly influence the price of securities. It is apparent from the inquiry conducted by the Stockholm Stock Exchange that on more than 1,400 occasions during the period January to mid-September 2006, an EPF employee has purchased and sold AstraZeneca shares on EPF's own account in a manner that resulted in EPF intentionally conducting business with itself. On more than 1,000 occasions, the price of the share was also affected, due to the latest price paid for the share having been updated as a result of the internal transactions. The Disciplinary Committee has concluded that these practices constituted a serious breach of the Stockholm Stock Exchange's rules and regulations. The breaches occurred over a protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. period and pertained to a large number of transactions. Accordingly, the Stockholm Stock Exchange's Disciplinary Committee orders the company to pay a fine of SEK 300,000. The broker responsible for the transactions is no longer employed by EPF and was also issued a warning by SwedSec's Disciplinary Committee. About the Disciplinary Committee The role of Stockholm Stock Exchange's Disciplinary Committee is to consider suspicions regarding whether Exchange Members, brokers or listed companies have breached the rules and regulations applying on the Exchange. If the Exchange suspects that a member, broker or listed company has acted in breach of the Exchange's rules and regulations, the matter is reported to the Disciplinary Committee. The Exchange investigates the suspicions and pursues the matter and the Disciplinary Committee issues a ruling regarding possible sanctions. The sanctions possible for listed companies are a warning, a fine or delisting. The fines that may be imposed range from one to 15 annual fees. The sanctions possible for Exchange Members are a warning, a fine or debarment de·bar tr.v. de·barred, de·bar·ring, de·bars 1. To exclude or shut out; bar. 2. To forbid, hinder, or prevent. , while brokers may be warned or have their brokerage license rescinded. The Disciplinary Committee's Chairman and Deputy Chairman must be lawyers with experience of serving as judges. At least two of the other members of the Committee must have in-depth insight into the workings of the securities market. Members: Supreme Court Justice Johan Munck (Chairman), Supreme Court Justice Marianne Lundius (Deputy Chairman), Madeleine Leijonhufvud (professor), Stefan Erneholm (company director) and Hans Mertzig (company director). Deputy Members: Hans Edenhammar (MBA), Claes Beyer (lawyer), Jack Junel (company director), Ragnar Boman (MBA) and Carl Johan Hogbom (MBA). About OMX OMX (STO:OMX) is a leading expert in the exchange industry. Through the Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. The Nordic Exchange is a term used for marketing purposes and is not a legal entity. It describes the common offering from the Helsinki Stock Exchange “HEX” redirects here. For other uses, see HEX (disambiguation).
For Wikipedia's help pages, see . , Copenhagen Stock Exchange Copenhagen Stock Exchange The only securities exchange in Denmark. It features electronic trading of stocks, bonds, futures, and options. , Stockholm Stock Exchange, Iceland Stock Exchange Iceland Stock Exchange (Icelandic: Kauphöll Íslands) or ICEX was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the central bank. , Tallinn Stock Exchange The Tallinn Stock Exchange is a stock exchange operating in Tallinn, Estonia. It is one of the OMX Exchanges, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. It is the only regulated exchange in Estonia. The major stock market index was the TALSE. , Riga Stock Exchange The Riga Stock Exchange is a sole stock exchange operating in Riga, Latvia. It is owned by OMX, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. and Vilnius Stock Exchange The Vilnius Stock Exchange (VSE) is a stock exchange established in 1993 operating in Vilnius, Lithuania. It is owned by OMX, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. . OMX' integrated technology solutions cross the transaction chain enabling efficient securities transactions for over 60 exchange organizations in more than 50 countries. OMX is a Nordic Large Cap company in the Financial sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com. This information was brought to you by Waymaker http://www.waymaker.net |
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