In its decision of 11 September 2009, the Sanction Commission of SIX Swiss Exchange issued a reprimand against Belimo Holding AG for violation of the duty to disclose management transactions. The company failed to publish in a timely manner (delay of 2-14 trading days) transactions with a total value of more than CHF 1.5 million.
The Sanction Commission determined that organizational deficiencies existing at Belimo Holding AG led to a breach of the rules governing the disclosure of management transactions.
Due to these violations, the Sanction Commission considers a reprimand of Belimo Holding AG to be appropriate under the circumstances.
Disclosure of management transactions improves information flow to investors, thereby promoting market transparency and the equal treatment of market participants. It also discourages insider trading and so helps maintain the integrity of the capital market.
Further information on the provisions governing the disclosure of management transactions is available at:
http://www.six-exchange-regulation.com/obligations/management_transactions_en.html
Managements transactions that have been published can be accessed at:
http://www.six-exchange-regulation.com/obligations/management_transactions/notifications_en.html
