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 on 29 November. A fine of CHF 75,000 was imposed.
The distribution of the ad-hoc notice dated 16 June 2021, was not compliant with Art. 7 et seqq. DAH.
Swissquote responded by pointing out that SIX Sanctions Commission recognized that the 16 June 2021 press release had been widely distributed and that it had taken almost a year for SER (Sanctions Enforcement Recommendation) to open a formal investigation.
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