Thursday, November 3, 2016

ACCESS can be tied in the Hexagon-case – Svenska Dagbladet

Hexagon low on information regarding the suspicions against Ola Rollén in four and a half days. Photo: Annika af Klercker

Hexagon waited in four and a half days to tell me that ceo Ola Rollén apprehended, arrested and detained suspected of insider dealing. According to the chairman Melker Schörling wanted to try to get an overall picture of the information before the market and the shareholders were told.

"We first had to try to get a grip on the situation and realize what was going on. When we then over the weekend, received confirmation of the detention, we felt it was the right time to in the day in the morning to go out with the information." wrote he was in a mejlsvar to SvD on Monday.

The latest information has been criticized, among others by the Swedish shareholders.

Now the stockholm stock exchange, follow up on the latest information.

“We have a dialogue with the company,” says Joakim Strid, övervakningschef on the stockholm stock exchange.

He declares that there is the possibility for companies to, under certain circumstances wait to provide market information, and that it is the company itself which presides over the decision. However, this is reviewed by the stock exchange and the financial supervisory authority in retrospect.

– the Ability to postpone the information has been around a long time, but it is more explicit now since the new rules came into force on 3 July of this year.

a the EU regulation on market abuse, which replaced the old rules of the same substance, which built on the EU directive. The difference now is that exactly the same law applies throughout the EU.

– In thing, it means that the examples of application is new, and that there are higher demands on companies to document and justify their decision to shoot up the information, ” says Joakim Battle.

Stock market asked Hexagon to describe the circumstances and the motives to shoot up information about the suspicions against Ola Rollén.

– There are not so many applications here in Sweden since they came into force in the summer. The first example was, however, Ericsson, when ceo Hans Vestberg ended in the summer.

If the stock market finds that a company postponed the information in violation of the rules, there are several different penalties.

” the Company may get a warning, pay the penalty or in the worst case delisted. Then there is another system of the financial supervisory authority decides on, but it has not entered into force yet, ” says Joakim Battle.

Fixed sanction from the Swedish financial supervisory authority do not need to Hexagon’s management to worry about, at least not for the late information. First, in February next year begins the new rules on their sanktionsmöjlighet for deferred information to apply.

The new rules, which will come next year, means that the financial supervisory authority can give additional penalties to the companies that are not informed properly, on top of them like the stock market specifically. Companies can, therefore, be "doubly punished" in the future if they do not inform correctly.

– the Sanctions provided in collaboration with the stock exchange. We take into account any sanction from the marketplace when we issue our sanction under the new regulatory framework in February, ” says Anders Wallinder, head of handelstillsyn at the Fsa.

But the stock market is a private company, and the financial supervisory authority a authority. The question is how to work out a sanktionsperspektiv.

” We should have a holistic approach, while the stock market is a trading venue with a narrower perspective. We shall sanction from a holistic perspective, ” says Anders Wallinder.

Fixed is now at risk thus, the Hexagon no sanction from the financial supervisory authority of information. Whether the Fsa is investigating the Hexagon to Anders Wallinder not say. But the stock exchange is reviewing the case.


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