Stockholm Stock Exchanges Disciplinary Committee issues warning to Goldman Sachs Goldman Sachs International in London has contravened the rules that state that any party who acquires or transfers shares in an exchange-listed company so that the holding passes an even five-percent limit must disclose the change no later than the following trading day. Accordingly, the Stockholm Stock Exchanges Disciplinary Committee has decided to issue a warning to the company. Goldman Sachs International is a member of the Stockholm Stock Exchange. Exchange members must comply with the rules issued by the Swedish Industry and Commerce Stock Exchange Committee (NBK) concerning the disclosure of acquisitions and transfers of shares. According to these rules, any party who acquires or transfers shares in an exchange-listed company so that the holding passes an even five-percent limit (five, 15, 20 percent, etc.) up to 90 percent must disclose the change. This must be done no later than 9.00 a.m. on the trading day that immediately follows the acquisition or sale. On September 5, 2005, Goldman Sachs sold shares in SinterCast AB, which is listed on Stockholm Stock Exchanges O List, to such an extent that its combined holding of SinterCast shares was reduced to less than 10 percent. The sale was not disclosed until ten days later, on September 15, 2005. The Disciplinary Committee found that Goldman Sachs had disregarded generally acceptable practices in the Swedish securities market and thus issued a warning to the company. ______________________________________________________________________________________ Disciplinary Committee The role of Stockholm Stock Exchanges 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 Exchanges 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for Exchange Members are a warning, a fine or debarment, while brokers may be warned or have their brokerage license rescinded. The Disciplinary Committees 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 Högbom (MBA). For more information, please contact: Ulf Lindgren, Senior Legal Counsel, Stockholm Stock Exchange +46 8 405 70 60 OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations and central securities depositories around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information, please visit www.omxgroup.com. PDF
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