Register number 181/03/M3
Date of ruling 17.3.2004
Enforcement of a fine
Marketing of securities
Register number: 181/03/M3
Date of ruling: 17.3.2004
Financial Supervision Authority v. Ab Europositron Oy (the company). In its ruling 129/2003 of 18 June 2003 the Market Court had prohibited Ab Europositron Oy from continuing or repeating the marketing of securities unless the company provided an issue prospectus approved by the Financial Supervision Authority. The prohibition was backed up by the threat of a €20,000 fine.
After the Market Court ruling Ab Europositron Oy had continued the marketing of its issue by publishing a newspaper advertisement of a subscription issue and also by publishing an announcement on the issue and a brochure relating to it on its Internet page. The company had continued to publish the advertisements in 2004. The company had made some changes to the issue prospectus but had not drawn up a prospectus that the Financial Supervision Authority would have approved.
The company had violated the prohibition imposed by the Market Court ruling. No circumstances had come to light enabling the Market Court to reduce the amount of the fine. Therefore, the Court ordered the fine imposed as reinforcement for the injunction to be paid in full.