Media Release


Fine against Youngtimers AG

The Sanctions Commission of SIX Group AG has sanctioned Youngtimers AG with a fine of CHF 200’000 for breaching the provisions on financial reporting intentionally.

SIX Exchange Regulation AG (SER) which is responsible for monitoring and enforcing stock exchange regulations concerning listed companies, opened an investigation against Youngtimers AG after having conducted a preliminary inquiry. The reason thereof was a failure to prepare consolidated financial statements for the year 2022. 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 followed the sanction proposal and sanctioned Youngtimers AG by decision of 13 March 2024 with a fine in the amount of CHF 200’000. The decision of the Sanctions Commission of SIX Group AG became legally binding after Youngtimers AG chose not to appeal.

Youngtimers AG failed to present consolidated financial statement für the year 2022 and incorrectly restated the prior period 2021 to a non-consolidated presentation. This led to multiple consequential errors. As a consequence, Youngtimers AG violated the applicable financial reporting standard Swiss GAAP FER and thereby its obligations pursuant to Art. 51 of the Listing Rules in combination with Art. 6 of the Directive Financial Reporting.

The degree of fault has been qualified as intentional, the severity of the breach as severe. In determining the level of fines, the Sanctions Commission of SIX Group AG considered the impact of the sanction on the party concerned and the behaviour in previous years.