Statistics for violation of capital market regulation

The Danish FSA is monitoring the capital markets on a continuous basis. This is a core assignment of the Danish FSA as part of our work of ensuring well-functioning financial markets in Denmark.

The monitoring reflects that market abuse and inadequate or erroneous information may have serious consequences for the market confidence and may result in losses for investors.

 

The Danish FSA keeps statistics of market abuse cases, including insider dealing and market manipulation, and cases in relation to prospectuses, disclosure obligations and the transaction reporting of securities dealers. More information in this spreadsheet.

Market abuse

Market abuse cases

2014

2015

2016

Insider dealing

59

100

85

- of these disclosure of inside information

8

4

1

- of these forwarded to foreign authorities

-

-

27

Market manipulation

47

33

37

- of these cross-market manipulation

0

1

0

- of these forwarded to foreign authorities

-

-

9

Inquiries from foreign authorities

29

19

26

Total

135

152

148

 

Police reports

2014

2015

2016

Insider dealing

4

1

8

- of these disclosure of inside information

0

1

2

Market manipulation

5

1

10

- of these cross-market manipulation

0

0

1

Police reports forwarded to the public prosecutor

9

2

18

 

Violation of prospectus regulation

 

2014

2015

2016

Reported cases

4

13

18

Reprimands and orders

1

1

3

Police reports forwarded to the public prosecutor*

3

0

0

 

Violation of disclosure obligations

 

2014

2015

2016

Reported cases

 

 

 

Takeover bids

1

3

0

Major shareholder notifications

21

14

8

Disclosure of inside information etc

17

11

7

Notification of managers’ transactions

34

36

1

Total

73

64

16

Reprimands and orders

 

 

 

Takeover bids

0

1

0

Major shareholder notifications

12

12

8

Disclosure of inside information etc

3

1

1

Notification of managers’ transactions

12

19

3

Total

27

31

12

Pecuniary sanctions

 

 

 

Takeover bids

0

1

0

Major shareholder notifications

4

10

0

Disclosure of inside information etc

0

1

0

Notification of managers’ transactions

0

0

1

Total

4

12

1

Police reports forwarded to the public prosecutor

 

 

 

Takeover bids

0

0

0

Major shareholder notifications

0

0

0

Disclosure of inside information etc

1

0

0

Notification of managers’ transactions

0

0

0

Total

1

0

0

 

Violation of transaction reporting regulation

 

2014

2015

2016

Reported cases

20

1

1

Reprimands and orders

1

0

0

Pecuniary sanctions

5

11

1

Cases referred to the police*

0

0

0

Police reports forwarded to the public prosecutor

 

0

 

0

 

0

 

* Several police reports may be included in one case