Statistics for violation of capital market regulation

The Danish FSA is monitoring the capital markets on a continuous basis. This is a core assignment of the Danish FSA as part of our work of ensuring well-functioning financial markets in Denmark.

The monitoring reflects that market abuse and inadequate or erroneous information may have serious consequences for the market confidence and may result in losses for investors.

 

The Danish FSA keeps statistics of market abuse cases, including insider dealing and market manipulation, and cases in relation to prospectuses, disclosure obligations and the transaction reporting of securities dealers. More information in this spreadsheet.

 

 

Market abuse

Market abuse cases

Year**

2015

2016

2017

2018

Insider dealing

100

87 95 161
- of these from the whistleblower scheme - 2 1 4

- of these disclosure of inside information

4

1

0 0

- of these forwarded to foreign authorities

-

27

43

65

Market manipulation

33

37

78

62
-of these from the whistleblower scheme - 0 6 6

- of these cross-market manipulation

1

0

0

0

- of these forwarded to foreign authorities

-

9

6

15

Inquiries from foreign authoritites

19

26

17

19

Total

152

150

190 242

    

Police reports*

Year**

2015

2016

2017

2018

Insider dealing

1

8 0 1

- of these disclosure of inside information

1

2

0

1

Market manioulation

1

10

2 1

- of these cross-market manipulation

0

1

0

0

Police reports forwarded to the public prosecutor

2

18

2

2

 

Violation of disclosure obligations

Year

2015

2016

2017

2018

Reported cases

 

 

 

Takeover bids

3

0

1

0

Major shareholder notifications

14

8

0

9

Disclosure of inside information etc

11

7

25

28

Notification of managers' transactions

36

1

19

39

Total

64

16

45

76

Reprimands and orders

 

 

 

Takeover bids

1

0

1

0

Major shareholder notifications

12

8

0

6

Disclosure of inside information etc

1

1

4

10

Notification of managers' transaction

19

3

11

33

Total

31

12

16

49

Pecuniary sanctions

 

 

 

Takeover bids

1

0

0

0

Major shareholder notifications

10

0

0

0

Disclosure of inside information etc

1

0

0

0

Notification of managers' transaction

0

1

0 0

Total

12

1

0

0

Police reports forwarded to the public prosecutor

 

 

 

Takeover bids

0

0

0

0

Major shareholder notifications

0

0

0

0

Disclosure of inside information etc

0

0

1

1

Notification of managers' transaction

0

0

0

0

Total

0

0

1

1

 

Violation of prospectus regulation

Year

2015

2016

2017

2018

Reported cases

13

18

3

0

Reprimands and orders

1

3

0

0

Police reports forwarded to the public prosecutor*

0

0

0

0

 

Violation of transaction reporting regulation

Year

2015

2016

2017

2018

Reported cases

1

1

0

13

Reprimands and orders

0

0

0

0
Pecuniary sanctions 11 1 0 0

Cases referred to the police*

0

0

0

0

Police reports forwarded to the public prosecutor

0

0

0

0

* Several police reports may be included in one case

** Observations in the individual years are not necessarily directly comparable, as different calculation methods have been used in the period