Stockholm, February 8, 2019 – The Disciplinary Committee of Nasdaq Stockholm has found that Cyxone AB (”Cyxone” or “the Company”) has breached the regulations of Nasdaq First North (“the Rulebook”) and has therefore ordered Cyxone to pay a fine of two annual fees, corresponding to an amount of SEK 200,000.
The Disciplinary Committee finds that Cyxone has breached item 4.1 of the Rulebook as a result of selective disclosure of inside information by the Company’s President during a speech at the BioStock Live event in Stockholm, Sweden, on September 28, 2017. The information was not properly disclosed, according to art. 17 in MAR, until a press release was issued on October 3, 2017. The Disciplinary Committee has decided to impose a sanction in the form of a fine corresponding to two annual fees.
A detailed description of the matter and the Disciplinary Committee’s decision is available at:
Participating in the Committee’s decision were former Supreme Court Justice Marianne Lundius, MBA Ragnar Boman, Company Director Carl-Johan Högbom, Lawyer Wilhelm Lüning and Company Director Anders Oscarsson.
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 company has acted in breach of the rules, the matter is referred to the Disciplinary Committee. Nasdaq Stockholm 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 Marianne Lundius (Chairman), Supreme Court Justice Ann-Christine Lindeblad (Deputy Chairman), Company Director Erik Einerth, Company Director Stefan Erneholm, Company Director Anders Oscarsson, Lawyer Wilhelm Lüning, Company Director Jack Junel, MBA Ragnar Boman, MBA Carl Johan Högbom, Lawyer Patrik Marcelius, Authorized Public Accountant Magnus Svensson Henryson and Authorized Public Accountant Svante Forsberg.
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