Finanssivalvonta - Company Announcement

FIN-FSA imposes two administrative fines on companies belonging to SEB Group for delays in disclosure of major shareholdings

FINANCIAL SUPERVISORY AUTHORITY PRESS RELEASE 10 September 2015



The Financial Supervisory Authority (FIN-FSA) has imposed an administrative
fine of EUR 10,000 on Skandinaviska Enskilda Banken AB (publ) (Sweden) and an
administrative fine of 10,000 on SEB Life International Assurance Company
Limited (Ireland). 

The companies failed to comply with certain provisions related to the
disclosure obligation provided for in the Securities Markets Act. They omitted
to disclose, within the deadline prescribed by law, a position falling below
the 5% reporting threshold. The disclosure notification was submitted 27
trading days late. 

The objective of regulation on the notification obligation is to ensure
transparency of the structure of holdings and voting power in an issuer whose
share is admitted to trading on a regulated market, and of changes therein.
Information disclosed on the basis of the notification obligation may have an
impact on the value of the target company's securities. 

The administrative sanction available in this matter is an administrative fine.
The size of the administrative fine is based on a comprehensive assessment
which gives consideration to the nature, extent and duration of the
malpractice. The administrative fine payable by a legal person shall amount to
no less than EUR 5,000 and to no more than EUR 100,000. The administrative fine
is ordered to be paid to the State. 

The decisions on the administrative fines are not yet legally binding. The
companies have the right to appeal the decisions to the Market Court within 30
days of receipt of notice of said decisions. 

For further information, please contact

Tuula Tauru, Legal Advisor, tel. +358 10 831 5257

Appendix
Decision by the Financial Supervisory Authority (in Finnish)

·         Skandinaviska Enskilda Banken AB (publ) (6 pages)

Attachments:

SEB_AB_07092015_paatos.pdf