Bergbahnen Engelberg-Trübsee-Titlis AG is fined
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 near future. 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 to Bergbahnen Engelberg-Trübsee-Titlis AG by way of sanction notice.
SIX Swiss Exchange AG
SIX Exchange Regulation performs the functions assigned under Swiss federal law and enforces and monitors compliance with the rules laid down by the Regulatory Board. SIX Exchange Regulation imposes sanctions in so far as it is authorised to do so by the regulations, or submits sanction requests to SIX Swiss Exchange's Sanction Commission.
SIX Exchange Regulation's independence from SIX Swiss Exchange's operating business is guaranteed by its direct subordination to the Chairman of the Board of Directors of SIX Group. SIX Exchange Regulation consists of the divisions Listing & Enforcement, responsible for regulating issuers, and Surveillance & Enforcement monitoring trading.