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SIX Exchange Regulation is opening an investigation against Commerzbank AG, Frankfurt am Main, on the grounds of a possible breach of reporting obligations in connection with the continued listing of two structured products listed on Scoach Switzerland Ltd.
Having completed its preliminary investigation, SIX Exchange Regulation is now opening an investigation against Commerzbank AG, Frankfurt am Main, on the grounds of a possible breach of reporting obligations in respect of the continued listing on Scoach Switzerland Ltd of two floating reverse convertibles (ISIN CH0118867271 and ISIN CH0118867289). The investigation is being carried out in connection with two allegedly late reports of interest rate fixings for each of the aforementioned floating reverse convertibles from Commerzbank AG. The interest amounts for two interest periods in question were paid by Commerzbank AG in due time and with the correct amount. With such floating rate structured products, the interest rate is fixed for the following interest period every three months. The issuer must report this fixing and notify market participants each time. Commerzbank AG, Frankfurt am Main, has a total of around 540 structured products listed on Scoach Switzerland Ltd.
Investigatory proceedings will continue for an indefinite period. SIX Exchange Regulation will announcethe findings. No information will be provided while the investigation is ongoing.
