.jpg)
The Sanction Commission of SIX Swiss Exchange Ltd. has fined Banque Profil de Gestion S.A. CHF 100,000 for late publication of its 2011 Annual Report and violation of the principle of equal treatment of market participants.
Banque Profil de Gestion S.A. did not publish its 2011 Annual Report through an ad-hoc notice immediately after the report was approved by the Board of Directors, but made it available for its shareholders at its headquarters and distributed it to them at the Annual General Meeting on 24 April 2012. It published the report via an ad-hoc notice only in the evening after the Annual General Meeting. The Sanction Commission held that the 2011 Annual Report contained additional, potentially price-sensitive information that was not included in a media release regarding 2011 financial figures published by the bank on 15 March 2012. It sanctioned the bank for late publication of the Annual Report and violation of the principle of equal treatment of market participants.
The Sanction Commission rated the breach as serious and the behavior of the bank as grossly negligent. The impact of the sanction on the bank was also taken into account in the calculation of the fine.
