News release 27 October 2015 – 16/2015

FIN-FSA appeals against a ruling of the Market Court

The Financial Supervisory Authority (FIN-FSA) appeals against the ruling of the Market Court of 23 September 2015 and requests the Supreme Administrative Court to revoke the Market Court’s ruling (in Finnish) on the reduction of the penalty payment imposed on Navi Group Ltd. The present trade name of Navi Group Ltd is Privanet Capital Markets Ltd.

FIN-FSA imposed a penalty payment of EUR 100,000 on Navi Group Ltd by its decision of 4 November 2014. The company had violated several legal provisions during the period 31 December 2011 – 22 November 2013. The Market Court repealed certain parts of FIN-FSA’s decision and reduced the amount of penalty payment imposed on Navi Group Ltd to EUR 80,000.

In its appeal to the Supreme Administrative Court, FIN-FSA asserts that its decision on the penalty payment on Navi Group Ltd should not be repealed in any respect but should instead be kept in force as such.

Further information 

  • Sonja Lohse, Head of Director General’s Staff, Chief Advisor, tel. +358 10 831 5311