Stockholm, May 18, 2016 – The Disciplinary Committee of Nasdaq Stockholm (“the Exchange”) has ruled that Capio AB (“Capio”) has breached Nasdaq Stockholm’s Rule Book for Issuers (“the Rule Book”) and has therefore ordered Capio to pay a fine of SEK 344.869, corresponding to one annual fee.
The matter concerns Capio’s breach of Rules 2.4.3, 3.2.1 and 3.1.5.
The matter confirms that Capio published its year-end report for 2015 at 1:30 p.m. on February 12, 2016 via a press release. In the afternoon of the same date, the company contacted the Exchange to report that a news agency had already released information from the year-end report at 1:28 p.m.
By that time, the news agency had already searched for, and accessed, the press release by changing the file name. Capio has stated that the company was not aware that the technical tool on its website permitted outsiders to access non-published material. Capio has since taken steps to prevent a recurrence of the event.
According to the Disciplinary Committee, the procedure used to access the year-end report prior to publication is well-known, and other companies have been subject to the same procedure on several occasions. This has also been mentioned by the Exchange in various contexts. The Disciplinary Committee therefore rules that the event cannot be considered minor, nor an excusable offense. Disciplinary measures will therefore be imposed upon Capio.
A detailed description of the matter and the Disciplinary Committee’s decision are available at:
Participating in the Disciplinary Committee’s decisions were former Supreme Court Justice Johan Munck, MBA Ragnar Boman, Company Director Stefan Erneholm, Lawyer Willhelm Lüning and former Authorized Public Accountant Bo Magnusson.
About the Disciplinary Committee
The role of Nasdaq Stockholm’s Disciplinary Committee is to consider suspicions regarding whether Exchange Members or listed companies have breached the rules and regulations applying on the Exchange. If the Exchange suspects that a member or a listed company has acted in breach of the 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. Fines paid are not included in the Exchange’s business but are attributed to a foundation supporting research in the securities market. 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: Former Supreme Court Justice Johan Munck (Chairman), Supreme Court Justice Marianne Lundius (Deputy Chairman), Supreme Court Justice Ann-Christine Lindeblad, Company Director Erik Einerth, Company Director Stefan Erneholm and Company Director Anders Oscarsson. Deputies: Former Authorized Public Accountant Bo Magnusson, Lawyer Wilhelm Lüning, Company Director Jack Junel, Ragnar Boman (MBA) and Carl Johan Högbom (MBA).
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|Media contact:Christina Malmberg Hägerstrand+46 8 405 65 83christina.hagerstrand @nasdaq.com|
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