Combined penalty payment of EUR 30,000 to BBS-Bioactive Bone Substitutes Plc for omissions concerning listed companies’ notification obligation
Combined penalty payment of EUR 30,000 to BBS-Bioactive Bone Substitutes Plc for omissions concerning listed companies’ notification obligation
The Financial Supervisory Authority (FIN-FSA) has imposed a combined penalty payment of EUR 30,000 on the former listed company BBS-Bioactive Bone Substitutes Plc for several omissions. The company had failed to notify its three persons discharging managerial responsibilities of their obligations under regulation concerning managers’ transactions in the period from 28 February 2018 to 22 November 2023.
The notification obligation of listed companies is based on the EU's Market Abuse Regulation. The purpose of the notification obligation is to remind managers of their obligation to notify transactions and of the prohibition against trading during a closed period.
– From the perspective of market confidence, it is important that insider management by listed companies is organised appropriately, states Tero Kurenmaa, FIN-FSA Director General.
A combined penalty payment, payable to the State, was imposed for several omissions. The amount of the combined penalty payment was based on a comprehensive assessment which took account especially of the nature, extent and duration of the omissions.
The FIN-FSA's decision is not yet legally binding. The company has the right to appeal the decision to the Helsinki Administrative Court within 30 days of receipt of notice of the decision. Information on the legal validity of the decision is available on the FIN-FSA website.
For further information, please contact
Janne Häyrynen, Head of Unit, Legal. Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030 (weekdays 9:00–16:00).
Appendix
FIN-FSA decision (pdf, in Finnish)