UK:
AFM Imposes Fine On CEO For Disclosure Of Inside Information During A Closed Meeting
14 July 2011
De Brauw Blackstone Westbroek N.V.
To print this article, all you need is to be registered or login on Mondaq.com.
The AFM has imposed a EUR 200,000 fine on the CEO of Schuitema
for disclosing inside information in violation of the Financial
Markets Supervision Act. At the company's corporate day, the
CEO had made various statements which, in the AFM's view,
related to inside information. The AFM dismissed the CEO's
arguments in defence – i.e. that the statements did not
contain concrete information and had been made during a closed
meeting – and rejected the request to reduce the amount
of the fine.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.