FIN-FSA imposes administrative fine on Bothnia International Insurance Company Ltd. for delayed reporting
FIN-FSA has imposed an administrative fine of EUR 5,000 on Bothnia International Insurance Company Ltd. The company has neglected to disclose due information according to its statutory regular reporting obligation to FIN-FSA. The delays in reporting have varied between 6 and 8 days.
For neglect of a reporting obligation, 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.
This decision on a public warning is not yet legally binding. The company has the right to appeal the decision of 30 August 2016 to the Market Court within 30 days of the company's receipt of notice of said decision.
For further information, please contact:
- Sonja Lohse, Head of Unit, Chief Advisor, tel. +358 10 831 5311
- FIN-FSA decision (in Finnish, pdf)