UniCredit Bank d.d.
Summary:
The amendments to the Law on Securities Market in the Federation of Bosnia and Herzegovina came into force on 7 November 2015
Wed, 11/11/2015
The Parliament of the Federation of Bosnia and Herzegovina (FBiH) adopted Amendments to the Law on Securities Market in FBiH, which came into force on 7 November 2015. The amendments refer to the Misdemeanors Section and determine a new size of the fines for breaching the provisions of the law:
- Beneficial owners of securities - legal entities, issuers, professional intermediaries, custody banks, stock exchange, Central Registry of Securities (CSD) and other market participants can be subject to a penalty in the amount from BAM 15,000 to BAM 200,000.
Previously, the penalty range varied between BAM 3,000 to BAM 15,000.
- Beneficial owners of securities - private individuals, authorized persons, members of supervisory board, brokers and other employees of professional intermediaries, employees of stock exchange, employees and board members of the CSD can be subject to a penalty in the amount from BAM 500 to BAM 10,000.
Previously, the penalty range varied between BAM 200 to BAM 1,500.
Impact on investors: New remedies for breaching the securities market regulations comprise significantly increased penalties for all market participants.