SIX exchange fines Swissquote CHF 75K for breach of ad hoc publicity laws
SIX Exchange Regulation AG (SER), one of SIX trading venues’ regulating bodies., opened an investigation into the publication on 2 June 2022. The decision to sanction Swissquote was made on 29 November and a fine was imposed in the amount of CHF 75,000. SIX stated: Mainly due to a technical issue and human error, the […] The post SIX exchange fines Swissquote CHF 75K for breach of ad hoc publicity laws appeared first on LeapRate.
SIX Exchange Regulation AG (SER), one of SIX trading venues’ regulating bodies., opened an investigation into the publication on 2 June 2022. The decision to sanction Swissquote was made on 29 November and a fine was imposed in the amount of CHF 75,000.
SIX stated:
Mainly due to a technical issue and human error, the distribution of the ad hoc announcement dated 16 June 2021 was not in compliance with Art. 7 et seqq. DAH.
In its response, Swissquote points out that SIX Sanctions Commission had recognized that the press release from 16 June 2021 had been distributed broadly and had questioned that it took almost a year after the incident for SER to open a formal investigation.
The post SIX exchange fines Swissquote CHF 75K for breach of ad hoc publicity laws appeared first on LeapRate.
