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**

2018  2019 2020 

Insider dealing

161 142  134 
- of these from the whistleblower scheme 4 2

- of these forwarded to foreign authorities

65 43  48

Market manipulation

62 80  103 
-of these from the whistleblower scheme 6 2
       

- of these forwarded to foreign authorities

15 20  11 

Inquiries from foreign authoritites

19 24  19

Total

242 246  256

Police reports on market abuse*

Year** 2018 2019  2020 

Insider dealing

1 3

Market manioulation

1 3

Police reports forwarded to the public prosecutor

2 6

Violation of disclosure obligations

Year

2018  2019 2020 

Reported cases

     

Takeover bids

0 13 

Major shareholder notifications

9 17

Disclosure of inside information etc

28 32  8

Notification of managers' transactions

39 25  20

Total

76 75  45

Reprimands and orders

     

Takeover bids

0 11  0

Major shareholder notifications

6 0

Disclosure of inside information etc

10 1

Notification of managers' transaction

33 15  13

Total

49 31  14

Pecuniary sanctions

     

Takeover bids

0

Major shareholder notifications

0

Disclosure of inside information etc

0

Notification of managers' transaction

0

Total

0 1  0 

Police reports forwarded to the public prosecutor

     

Takeover bids

0

Major shareholder notifications

0

Disclosure of inside information etc

1

Notification of managers' transaction

0

Total

1 0 

Violation of prospectus regulation

Year

2018 2019  2020 

Reported cases

0

Reprimands and orders

0

Police reports forwarded to the public prosecutor*

0

Violation of transaction reporting regulation

Year

2018 2019  2020

Reported cases

13 18  38 

Reprimands and orders

0
Pecuniary sanctions 0

Police reports forwarded to the public prosecutor*

0

Violation of reporting of net short positions

Year

2018 2019 2020

Reported cases

6 12 11

Reprimands and orders

3 5 6

Police reports forwarded to the public prosecutor*

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

Last updated 24-02-2021