Afarak appeals FIN-FSA-imposed penalty
Specialist alloy producer Afarak has appealed the Finnish Financial Supervisory Authority- (FIN-FSA-) imposed penalty of €1.45-million relating to alleged failures to disclose inside information and the maintenance of its insider lists.
The company said on Wednesday that it had studied the decision of FIN-FSA and that it had appealed the penalty payment to Helsinki Administrative Court.
The company, which has operations in South Africa, Turkey, Germany, London, Helsinki and Malta, said it would continue to cooperate with the FIN-FSA.
“Afarak remains committed to comply with the rules and regulations of the Helsinki Stock Exchange, as well as the London Stock Exchange.”
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