Decision on Violation Penalty for Uncovered Short Selling
The Financial Supervisory Authority of Norway (Finanstilsynet) has imposed a violation penalty of NOK 2 million on the British management company, Cazadores Investments Limited for breaching the prohibition against uncovered short sales. This is in addition to the confiscation of profits for violations of the prohibition on uncovered short selling with regards to selling shares in connection with the new issuance of Flyr shares last year.