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SIX exchanges fined Swissquote CHF 75K each for breaking ad hoc publicity law

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SIX Exchange Regulation AG (SER), one of SIX trading venues’ regulating bodies., opened an investigation into the publication on 2 June 2022. Swissquote was sanctioned by a decision made 29 November. A fine in the amount CHF 75,000 was imposed.

SIX

Due to technical issues and human error, the 16 June 2021 ad-hoc announcement was not conforming with Art. 7 et seqq. DAH.

Swissquote responds that SIX Sanctions Commission acknowledged that the press release dated 16 June 2021 was widely distributed. They also questioned why it took nearly a year for SER, almost a whole year after the incident, to open a formal inquiry.

LeapRate first reported the SIX exchange fine Swissquote CHF 75K in breach of ad hoc public relations laws.



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