SIX Exchange Regulation has issued a fine of CHF 7,500 to BergbahnenEngelberg-Trübsee-Titlis AG owing to an infringement of the requirement to disclose management transactions.
SIX Exchange Regulation has discovered that Bergbahnen Engelberg-Trübsee- Titlis AG published a transaction too late. The reason for the delay was organizational shortcomings at the company. Although the person responsible for the publication of management transactions was absent on vacation, nobody was commissioned to deputize despite the fact that the company knew that a transaction subject to the disclosure obligation could take place in the nearfuture. The report from the issuer was only sent to SIX Exchange Regulation and published after the return of the person responsible and hence too late.
This infringement was deemed in the overall assessment to have been committed with conditional intent and classed as moderately serious. SIX Exchange Regulation has therefore issued a fine of CHF 7,500 toBergbahnen Engelberg-Trübsee-Titlis AG by way of sanction notice.