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2007

2007:1 Erik Penser Fondkommission

Erik Penser Fondkommission (EPF) has contravened the Stockholm Stock Exchange's rules by buying and selling AstraZeneca shares on its own account in a manner that resulted in EPF conducting business with itself. In a large number of cases, this practice also influenced the price of the shares. Accordingly, the Stockholm Stock Exchange's Disciplinary Committee has ruled that EPF must pay a fine of SEK 300,000.

2007:1 Erik Penser Fondkommission

2007:1 Erik Penser Fondkommission - Press release

2007:2 Svenska Handelsbanken AB

Svenska Handelsbanken has been found to have contravened the Stockholm Stock Exchange's listing agreement by not handling price-sensitive information correctly. The Stockholm Stock Exchange's Disciplinary Committee has ordered Handelsbanken to pay a fine of SEK 3 million. The Disciplinary Committee has established that the bank's report on the third quarter of 2006 became available externally about 15 minutes before being released in the prescribed manner. In similar cases from 2003, the Disciplinary Committee found that the clause in the listing agreement prohibiting the release of price-sensitive information in any manner other than through correct disclosure also applies to the unintentional release of information. Because the report was made available on the Internet, it has been concluded that the bank had released the information, since it was relatively easy to work out the Internet address. The Disciplinary Committee has fined Handelsbanken one annual fee, corresponding to SEK 3 million.

2007:2 Svenska Handelsbanken AB (SE)

2007:2 Svenska Handelsbanken AB - Press release (EN)

2007:3 Timber Hill Europe AG

Timber Hill Europe AG (Timber Hill) has contravened the Stockholm Stock Exchange's rules by placing automatically routed sell and buy orders on several occasions that deviated from the current market value of the securities concerned. Accordingly, the Stockholm Stock Exchange's Disciplinary Committee has ruled that Timber Hill must pay a fine of SEK 200,000. For more information, see the attached files with the press release from the Stockholm Stock Exchange and the decision from the Disciplinary Committee. 

2007:3 & 2007:4 J P Morgan & Timber Hill - Press release (EN)

2007:3 Timber Hill Europe AG (EN)

2007:3 Timber Hill Europe AG (SE)

2007:4 J P Morgan Securities Ltd

On a number of occasions, a broker at J P Morgan Securities Ltd (J P Morgan) placed buy and sell orders on the company's own account in a manner that resulted in several automatically matched transactions, whereby J P Morgan conducted business with itself. Accordingly, the Stockholm Stock Exchange's Disciplinary Committee has ruled that J P Morgan must pay a fine of SEK 200,000. The broker at J P Morgan was also issued a warning. For more information, see the attached files with the press release from the Stockholm Stock Exchange and the decision from the Disciplinary Committee. 

2007:4 J P Morgan Securities Ltd (EN)

2007:4 J P Morgan Securities Ltd (SE)

2007:3 & 2007:4 J P Morgan & Timber Hill - Press release (EN)

2007:5 Kaupthing Bank Sverige AB

Kaupthing Bank Sweden has contravened OMX Nordic Exchange’s and Finansinspektionen’s rules by reporting 15 trades to the Exchange for which contract notes and other documentation where missing. The prices at which the trades have been reported have also, on a number of occasions, diverted from the prices at which trading in general has taken place, this lead to the suspicion that the reporting has been done with an unduly objective. OMX Nordic Exchange in Stockholm’s Disciplinary Committee has decided that Kaupthing must pay a fine of SEK 200,000. For more information, see the attached files with the press release from the Stockholm Stock Exchange and the decision (only in Swedish) from the Disciplinary Committee.

2007:5 Kaupthing Bank Sverige AB - Decision (EN)

2007:5 Kaupthing Bank Sverige AB - Decision (SE)

2007:5 Kaupthing Bank Sverige AB - Press release (EN)

2007:5 Kaupthing Bank Sverige AB - Press release (SE)

NASDAQ OMX Stockholm warns Bringwell AB

OMX Nordic Exchange Stockholm issues warnings to the First North company Bringwell AB. The CEO of Bringwell had disclosed price sensitive information in an interview before the information had been made public.

According to the rules applicable for First North companies all price sensitive information shall be disclosed immediately. The disclosure should be done by sending the information to such media that can effectively spread the information to the public. The information shall at the same time be sent to the company’s Certified Adviser and to the exchange. On September 6th, Dagens Industri published an interview with the CEO of Bringwell, telling that the company had acquired a Norwegian company the day before. The information about the deal was made public to the market through a press release on September 6th at 8.20 am. However, the information was revealed to the journalist the day before, on September 5th. By disclosing the information to the journalist before making it public by issuing a press release, Bringwell has violated the First North rules. The exchange has decided to issue a warning to Bringwell for its actions.

NASDAQ OMX Stockholm warns PV Enterprise Sweden AB

OMX Nordic Exchange has today decided to issue warnings to the First North company PV Enterprise Sweden AB.

PV Enterprise made one of their quarterly reports available on their web page before the report had been made public.
The First North rules state that a quarterly report should be made public as soon as possible in the way that is described above. PV Enterprise’s quarterly report for the first quarter 2007 was available on the company’s web page on June 4th at about 2.40 pm, approximately 20 minutes before it was made public according to the rules. It is the company’s responsibility to make sure that no price sensitive information is disclosed beforehand. Since PV Enterprise did not succeed in this, the company has violated the First North rules. The exchange has decided to issue a warning to the company.

2007:6 Carnegie A/S

Carnegie Bank A/S has contravened the OMX Nordic Exchange Stockholm’s rules concerning trading in derivative instruments by having a broker place orders for derivative instruments with the sole intention of misleadingly affecting the price of another derivative instrument. Subsequently, the broker was able to implement transactions in the other instrument at a price that exceeded the price that would have applied had the orders not been placed. The OMX Nordic Exchange Stockholm’s Disciplinary Committee has ruled that Carnegie Bank A/S must pay a fine of SEK 300,000. For more information, see the attached files with the press release and decision from the OMX Nordic Exchange Stockholm's Disciplinary Committee.

2007:6 Carnegie A/S Decision (EN)

2007:6 Carnegie A/S Decision (SE)

2007:6 Carnegie A/S Pressrelease (EN)

2007:6 Carnegie A/S Pressrelease (SE)

2007:7 Nobel Biocare Holding AG

Nobel Biocare has contravened the listing agreement with the OMX Nordic Exchange Stockholm by not handling price-sensitive information correctly. The exchange’s Disciplinary Committee has ordered Nobel Biocare to pay a fine of SEK 768,000. For more information, see the attached files with the press release and decision from the OMX Nordic Exchange Stockholm's Disciplinary Committee.

2007:7 Nobel Biocare Holding AG Decision (EN)

2007:7 Nobel Biocare Holding AG Decision (SE)

2007:7 Nobel Biocare Holding AG Press release (EN)

2007:7 Nobel Biocare Holding AG Press release (SE)

2007:8 FME Europe AB

FME Europe AB no longer meets the requirements for trading on the alternative marketplace First North. Accordingly, the Disciplinary Committee of the OMX Nordic Exchange Stockholm has decided that the company’s share is no longer to be listed for trading on First North. The delisting applies with immediate effect. This represents the first time that a company has been delisted from First North involuntarily. For more information, see the attached files with the press release and decision from the OMX Nordic Exchange Stockholm's Disciplinary Committee.

2007:8 FME Europe AB Decision (EN)

2007:8 FME Europe AB Decision (SE)

2007:8 FME Europe AB Press release (EN)

2007:8 FME Europe AB Press release (SE)

NASDAQ OMX Copenhagen decides to delist Abaris Ejendomme A/S

Last day of trading for Abaris Ejendomme A/S The trading in Abaris Ejendomme A/S will end due to the reasons mentioned below. Last day of trading will be on 19 November 2007.

Shortname: ABARIS
ISIN: DK0060081271
Orderbook ID: 40477

The stock is being delisting, due to the fact that First North repeatedly has requested the management of the company to get a statement regarding the conditions within the company, including the allegations that were published through the press on 18 October and 19 October 2007, the matter in question apparently being the main activities of the company. First North has not succeeded in getting this information.
The Certified Adviser for Abaris Ejendomme, Nordic Corporate Finance, announced on 19 October 2007, that they no longer wished to be Certified Adviser for Abaris Ejendomme A/S. Furthermore the Certified Adviser stated that the chairman of the board of directors, Dan Terkildsen, and member of the board of directors, Michael Eide, resigned from the board on 19 October 2007.
The CEO of the company, being the only remaining member of the board, Kaj Thisted, announced on 29 October 2007 that he had resigned from the company’s management. Therefore the company is without a Certified Adviser, management and board of directors.
In the light of the additional insecurity concerning the company’s situation on 29 October 2007, First North suspended the trading of the shares in Abaris Ejendomme. The trading with the company’s shares is still suspended.
With effect from 20 November 2007, First North has decided to delete the company’s shares from the trading on First North. The deletion is carried out on the basis of section 7.2.2 in Rulebook for First North and the Securities Trading Act section 42e (1).
The decision of the deletion is based on the following:

• There is decisive insecurity concerning the conditions of the company.
• First North has repeatedly tried to contact the management of the company to get a clarification of the conditions of the company. This has not been possible. 2(2)
• The company’s Certified Adviser has left the company with reference to the fact that it was not possible to get access to information from the company and therefore the Certified Adviser were not able to fulfil their obligations.
• Both the board of directors and the management of the company have decided to leave the company with reference to the insecurity that has arisen.
• Initiative has not been taken, to re-establish the managerial situation of the company.
• A company on First North must have the right organization and the right employees to fulfil the demands, concerning disclosure of information to the market. This is not the case for Abaris Ejendomme
• In reality the company has closed down and no longer exists as a company admitted to trading, since it has not responded to the approaches from First North, since it does not publish announcements, since it has no management and no steps have been taken to reestablish the situation.
First North has concluded that a company does not exist, with the competencies or the will to meet the conditions that derive from being a company admitted to trading on First North. Thus First North has decided to not have Abaris Ejendomme admitted to trading on First North. As a consequence, Abaris Ejendomme is deleted from First North.
For further information, see the company announcements from Abaris Ejendomme.

2007:9 D. Carnegie & Co AB and Carnegie Investment Bank AB

The listed company D. Carnegie & Co AB (Carnegie) and its subsidiary Carnegie Investment Bank AB (the Bank) have contravened the rules applying at OMX Nordic Exchange Stockholm. With respect to the Bank, brokers have manipulated market prices to conceal intentional incorrect valuations previously undertaken within the Bank’s derivative trading portfolio (trading portfolio). Due to this, the Disciplinary Committee has decided to fine the Bank SEK 5 million. The fine that the Bank will have to pay is the highest fine that the Disciplinary Committee has levied against a member company. Carnegie, in its capacity as a listed company, contravened the listing agreement with the Exchange by disclosing incorrect information, partly in the interim report for the first quarter of 2007 and partly in a press release concerning the impact of the valuation manipulations on Carnegie’s earnings, where the effects for the years 2005 and 2006 were not accounted for. For these violations, the Disciplinary Committee has decided that Carnegie shall pay a fine corresponding to four annual fees, making a total of SEK 1,783,000. For more information, see the attached files with the press release and decision from the OMX Nordic Exchange Stockholm's Disciplinary Committee.

2007:9 D. Carnegie & Co and Carnegie Investment Bank AB Decision (EN)

2007:9 D. Carnegie & Co and Carnegie Investment Bank AB Decision (SE)

2007:9 D. Carnegie & Co and Carnegie Investment Bank AB Press release (EN)

2007:9 D. Carnegie & Co and Carnegie Investment Bank AB Press release (SE)

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