Fine against Clariant Ltd

The Sanctions Commission of SIX Group AG has imposed a fine of CHF 150,000 on Clariant Ltd for violations of the IFRS accounting standard.

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The Sanctions Commission of SIX Group AG (Sanctions Commission) determines that Clariant Ltd negligently violated the applicable financial reporting rules and thereby its obligations pursuant to Art. 51 of the Listing Rules and Art. 6 of the Directive Financial Reporting by booking provisions in the 2020 annual financial statements that did not comply with the IFRS requirements for the recognition of such provisions.

Based on the violations, the Sanctions Commission imposed a fine of CHF 150,000 on Clariant Ltd by decision dated 13 June 2023. The decision of the Sanctions Commission became legally binding after the expiry of the time limit for appeal.

In determining the sanction, the Sanctions Commission took into account the degree of the fault, the severity of the breach, the behaviour in previous years and the sensitivity of the issuer to sanctions.

If you have any questions, please contact
Hrvoje Tkalcec, Head Communications & Media Relations.
Phone: +41 58 399 2267
Email: ser_media@six-group.com

SIX Exchange Regulation AG is a legally independent company of SIX Group and of one the Regulatory bodies of the SIX trading venues. It performs the functions assigned under Swiss federal law and enforces the rules laid down by the Regulatory Board, and monitors compliance with legal and regulatory requirements. As part of its diverse remit, SIX Exchange Regulation AG submits proposals for sanctions to the Sanctions Commission or can enact sanction notices. SIX Exchange Regulation AG consists of the divisions Listing & Enforcement, responsible for regulating issuers, and Surveillance & Enforcement, which monitors trading.
www.ser-ag.com

SIX provides and operates stable and efficient infrastructure for the Swiss and Spanish financial centers, thus ensuring access to the capital markets and the flow of information and money between financial market players. As a global provider of financial information, SIX delivers high-quality reference, pricing, corporate actions, and ESG data and provides regulatory services and indices to clients around the world. The company is owned by its users (more than 120 banks) with a workforce of 4,160 employees and a presence in 19 countries.
www.six-group.com

Media Release

Fine against Clariant Ltd

The Sanctions Commission of SIX Group AG has imposed a fine of CHF 150,000 on Clariant Ltd for violations of the IFRS accounting standard.