The Autorité des marchés financiers (AMF) has made significant efforts in recent months to inform reporting issuers and insiders about this new regime. Insider reports filed after the prescribed five day reporting deadline will be published in the list of late insider trading reports.
In addition, pursuant to section 274.1 of the Securities Act and section 271.14 of the Securities Regulation,
AMF may impose an administrative monetary penalty in respect of any late insider trading report. However,
AMF announced that it would not impose an administrative monetary penalty for the first offence committed during the period from November 1, 2010 to April 30, 2011 by a reporting insider who fails to file a report within the five day deadline in respect of a change in control over the securities of a reporting issuer, provided that the insider reported the change in control no later than 10 days after the transaction.
Press release
© AMF - Autorité des Marchés Financiers
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article