Fine against AEVIS VICTORIA SA

The Sanctions Commission of SIX Group AG has sanctioned AEVIS VICTORIA SA with a fine of CHF 30’000 for breaching the provisions on ad hoc publicity negligently.

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SIX Exchange Regulation AG (SER) which is responsible for monitoring and enforcing stock exchange regulations concerning listed companies, opened an investigation against AEVIS VICTORIA SA after having conducted a preliminary inquiry. The reason hereof was an error with the distribution of an ad hoc announcement, not its content. Having completed a thorough investigation, SER issued a sanction notice. AEVIS VICTORIA SA lodged an appeal with the Sanctions Commission of SIX Group AG against the sanction notice. The appeal was dismissed and AEVIS VICTORIA SA was sanctioned by decision dated 13 February 2024 with a fine in the amount of CHF 30’000. The decision of the Sanctions Commission of SIX Group AG became legally binding after AEVIS VICTORIA SA chose not to appeal.

The Sanctions Commission of SIX Group AG concurred with SER’s sanction notice regarding the alleged violations of the Listing Rules and the Directive on Ad hoc Publicity (DAH). It held that the dissemination of the ad hoc announcement did not comply with the requirements of Art. 7 DAH in conjunction with Art. 8 DAH, Art. 10 para. 2 DAH and as a consequence also with Art. 6 DAH, because of the delayed operation of the e-mail distribution service (push system).

The degree of fault has been qualified as negligent, the severity of the breach as serious. In determining the level of fines, the Sanctions Commission of SIX Group AG considered the impact of the sanction on the party concerned.

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 AEVIS VICTORIA SA

The Sanctions Commission of SIX Group AG has sanctioned AEVIS VICTORIA SA with a fine of CHF 30’000 for breaching the provisions on ad hoc publicity negligently.