Fine against Barry Callebaut Ltd

The Sanctions Commission of SIX Group AG has sanctioned Barry Callebaut Ltd with a fine of CHF 110’000 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 Barry Callebaut Ltd after having conducted a preliminary inquiry. Having completed a thorough investigation, SER submitted a sanction proposal to the Sanctions Commission of SIX Group AG. The Sanctions Commission of SIX Group AG sanctioned Barry Callebaut Ltd by decision dated 13 February 2024 with a fine in the amount of CHF 110’000. The decision of the Sanctions Commission of SIX Group AG became legally binding after Barry Callebaut Ltd chose not to appeal.

The Sanctions Commission of SIX Group AG largely concurred with SER’s sanction proposal regarding the alleged violations of the Listing Rules (LR) and the Directive on Ad hoc Publicity (DAH). It held that Barry Callebaut Ltd violated regulatory requirements (Art. 53 LR in conjunction with Art. 6 DAH) in connection with the publication of the Annual Report 2021/22, due to the fact that its Short Report 2021/22 to the Annual Report 2021/22 was accessible for a Webcrawler during the critical trading hours on an inadequately protected area of the issuer's website and prior to publication of the corresponding ad hoc announcement.

The degree of fault has been qualified as negligent, the severity of the breach as severe. In determining the level of fine, the Sanctions Commission of SIX Group AG considered the impact of the sanction on the party concerned as well as the efficient and targeted reaction taken by the issuer to remedy the violation.

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 Barry Callebaut Ltd

The Sanctions Commission of SIX Group AG has sanctioned Barry Callebaut Ltd with a fine of CHF 110’000 for breaching the provisions on ad hoc publicity negligently.