Market announcement
Admiral Markets AS
LEI code
549300QE3BN5Y1FE7M41
Size of the entity
Medium undertaking
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
8836
Submission date and time
25.05.2021 14:16:56
Content of announcement in Estonian
Title
Tallinna Ringkonnakohus jättis Finantsinspektsiooni kaebuse rahuldamata ja nõustus Maakohtu otsusega tühistada Finantsinspektsiooni 08.02.2021.a trahv Admiral Markets AS suhtes
Message
8. veebruaril 2021 edastas Finantsinspektsioon (FSA) Admiral Markets AS-ile otsuse, mille kohaselt määrati ettevo?ttele trahv. Finantsinspektsioonil so?nul ei olnud Admiral Markets AS pa?rast toornafta hindade ma?rkimisva?a?rset langust aprillis 2020 ka?itunud ta?ielikult vastavalt va?a?rtpaberituru seadusele. Admiral Markets AS ei nõustunud Finantsinspektsiooni otsusega ning kinnitas, et on alati tegutsenud oma klientide huvides. Ettevõte oli veendunud, et hoolimata Finantsinspektsiooni otsuses avaldatud hinnangutest toimiti vastavalt regulatiivsele o?iguslikule raamistikule ebatavaliste asjaolude korral. Sellest tulenevalt esitas Admiral Markets AS 23.02.2021 kaebuse Harju Maakohtusse otsuse vaidlustamiseks. Harju Maakohtu 31.03. 2021 määrusega rahuldati Admiral Markets AS kaebus ning tühistati Finantsinspektsiooni otsus täies ulatuses. Finantsinspektsioon otsustas esitada määruskaebuse Tallinna Ringkonnakohtule. 24.05.2021 otsusega jättis Tallinna Ringkonnakohus Harju Maakohtu 31.03.2021.a määruse muutmata ning Finantsinspektsiooni esindajate määruskaebuse rahuldamata. Tallinna Ringkonnakohtu määrus ei ole veel jõustunud. Lisainfo: Kaia Gil Admiral Markets AS kommunikatsioonijuht [email protected] +372 53 413 764
Content of announcement in English
Title
The Tallinn Circuit Court rejected the appeal of the Financial Supervision Authority and agreed with the order of the Harju County Court to revoke the fine of the Financial Supervision Authority against Admiral Markets AS
Message
On February 8, 2021, Finantsinspektsioon (FSA) forwarded a decision to Admiral Markets AS notifying the company about an imposed fine. According to the regulator Admiral Markets AS had not acted entirely in accordance with the Securities Market Act, following the crash of Future crude oil prices in April 2020. Admiral Markets AS did not agree with the decision of the FSA and confirmed that it had always acted in the best interests of its clients. The company was confident that regardless of the opinions in the FSA announcement, it operated in accordance with the regulatory framework even when faced with unusual circumstances. Taken all that into consideration, Admiral Markets AS filed an appeal to Harju County Court on 23.02.2021 to challenge the FSA's decision. According to the Harju County Court order from 31.03.2021, the complaint of Admiral Markets AS was satisfied and the decision of Finantsinspektsioon (FSA) was annulled in full. The Financial Supervision Authority decided to file an appeal against the ruling to Tallinn Circuit Court. With an order of 24.05.2021, the Tallinn Circuit Court agreed with the order of Harju County Court from 31.03.2021 and decided not to change the order of Harju County Court. The order of the Tallinn Circuit Court has not yet entered into force. Additional information: Kaia Gil Communication manager of Admiral Markets AS [email protected] (https://www.globenewswire.com/Tracker?data=4H8EqSZkTyTPWkgnfYg2eGE_uMU4ycYspRII 4mCM4Ts4YnFeG3tS_fI9zkkaK1pjtIHZXljkZBKGLYAQD1L7M63XMHuTa5- RjJH0YpzK1no6rB7qZrouAIDpMOBZeMwyXaHiMM4oL20W8mdRcj_qJ9P- YPhkc42usVS9g3y5OGTIR_qgwC7vr4PiKot7HOxKVNcGcA6yUyQfSYH9g7_THd1tKOtJRXdObc9jr0gZ Ypdt2Kzt-Mf9aOZ14azWJ7G4_Q7gi9AqZzth4F6QI- bIzrgwoCO3e01vRJNqEf8SzEr51NUA6LVdS6jPojBTizn5iOA9xFExDG3mkeTX22TYOq8B3dOcbdkflo CkGH11_GzuB7F0QtMOLbWEbbvkGT9GjdsKuSVG-1UFh-5ge44VeWNQDGtGKrwBXpq-k3qoMG- Gti5U093Bn-NOAUMlvb- I6ghVxQFM33kOf3jsKh_7mTqX5QnlHSS8kthSo8I906tdRjeIvzGXfQjEMb6E6SQzyitxo34skWirlRB xlaEaUbi7lEHnaeFa9xH5VWzNyqMeigqxsUM7MGeztMt9fVYeUthjZ868XKjiCh5rf0bnmn6rt0k7nhA 1CKOcTGviRdAVAGalzswNMeT8ZRO-90J3kniiaFcqaVOJm-Iii1l_u1KP1qDpQhV7fIY-Ax-sI- OtymL9WNCKC8JY9hq3s2b4pJTJ7ngtuDScHZsv4motm94A0yAucxqnYU5gpp0_uLoxxhcZT9n1FGue5s 2oApM4uypMyGCIszgw01vlBaOwW_xzbJgEITn4ute7jwG0Dz7VpbSseLVMsmyun0nlvKlER11h1q7vdz U0uegeGUf3WA==) +372 53 413 764