Administrative fine 

The FIN-FSA can impose an administrative fine in circumstances defined in section 39 of the Act on the Financial Supervisory Authority.

The fine can be imposed on

• securities intermediaries that neglect securities transactions falling under the transaction reporting obligation,
• persons subject to the insider’s declaration obligation who fail to make an insider declaration in time or who provide an inaccurate or incomplete declaration,
• recipients of insider's declarations that neglect maintenance of the register or breaches related provisions,
• management companies that breach restrictions concerning investment of the assets of a mutual fund and
• issuers of securities subject to public trade that neglect their obligation to publish an annual summary of information published by them during the previous financial year.

 
The administrative fine for a legal person amounts to EUR 500–10,000, and the administrative fine for a natural person amounts to EUR 50–1,000.

The administrative fine is payable to the State.

27 July 2009