FIN-FSA imposes administrative fine on Bank of Ål

FINANCIAL SUPERVISORY AUTHORITY            NEWS RELEASE 15 March 2017

The FIN-FSA has imposed an administrative fine of EUR 5,000 on Bank of Åland Plc for neglect of reporting. The company failed to submit the regular report on its key financial figures by the given deadline. The data was submitted three business days too late.

For neglect of a reporting obligation, the FIN-FSA may impose an administrative fine of EUR 5,000–100,000 on a legal person. Such an administrative fine shall be ordered payable to the State.

The FIN-FSA's decision is not yet legally binding. The company has the right to appeal the decision of 6 March 2017 to the Market Court within 30 days of the company's receipt of notice of said decision.

To request an interview with

Sonja Lohse, Head of Unit, Chief Advisor, please contact FIN-FSA Communications, tel. +358 50 385 5154 (weekdays 9.00–16.00).

Attachment

FIN-FSA decision (pdf, in Swedish)