Finantsinspektsioon fined Hannes Niid for trading in shares while under a ban

01/11/2024

Finantsinspektsioon fined Hannes Niidi (ID code 38909300304), member of the board at Punktid Technologies AS (register code 16158335), 800 euros for a misdemeanour as he twice traded in the shares of Punktid Technologies AS while he was under a 30-day ban on doing so between 31.08.2023 and 29.09.2023. The shares of Punktid Technologies AS are traded on the multilateral trading system First North operated by Nasdaq Tallinn AS.

A regulation of the European Parliament and of the Council forbids people with management responsibilities at companies that have issued shares from trading directly or indirectly on their own account or that of a third-party in the shares of that company within the 30 calendar days that proceed the publication of an interim or annual report. Punktid Technologies AS published its non-audited interim report for the first six months of the 2023 financial year on 29.09.2023.

The maximum rate set by the Securities Market Act for a fine for a breach of these rules by a physical person was 1200 euros at the time that the misdemeanour was committed. Hannes Niid may dispute the decision as allowed by law.

 

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