SWEDEN: FI Fine Fredell & Co for Late Major Shareholding Disclosure

Monday August 19 2019

Finansinspektionen (FI) has fined Fredell & Co 260,000 krona for a breach in the obligation to notify the Swedish Financial Supervisory Authority in due time that its holdings of shares in Invuo Technologies AB fell below a disclosable limit.

Fredell & Co reduced its shareholding in Invuo Technology to below 5% on 21^st September 2017, however, this contained incorrect information. A correct notification was then submitted on 9^th October 2017.

Due to the obligation to file was due no later than 26^th September and the notification only being considered completed on 9^th October 2017, FI considered the late filing grounds for imposing a penalty on the company.

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