The monitoring reflects that market abuse and inadequate or erroneous information may have serious consequences for the market confidence and may result in losses for investors.
The Danish FSA keeps statistics of market abuse cases, including insider dealing and market manipulation, and cases in relation to prospectuses, disclosure obligations and the transaction reporting of securities dealers. More information in this spreadsheet.
Market abuse
Market abuse cases
|
Year**
|
2018 |
2019 |
2020 |
|
Insider dealing
|
161 |
142 |
134 |
| - of these from the whistleblower scheme |
4 |
0 |
2 |
|
- of these forwarded to foreign authorities
|
65 |
43 |
48 |
|
Market manipulation
|
62 |
80 |
103 |
| -of these from the whistleblower scheme |
6 |
1 |
2 |
| |
|
|
|
|
- of these forwarded to foreign authorities
|
15 |
20 |
11 |
|
Inquiries from foreign authoritites
|
19 |
24 |
19 |
|
Total
|
242 |
246 |
256 |
Police reports on market abuse*
| Year** |
2018 |
2019 |
2020 |
|
Insider dealing
|
1 |
3 |
3 |
|
Market manioulation
|
1 |
1 |
3 |
|
Police reports forwarded to the public prosecutor
|
2 |
4 |
6 |
Violation of disclosure obligations
|
Year
|
2018 |
2019 |
2020 |
|
Reported cases
|
|
|
|
|
Takeover bids
|
0 |
13 |
0 |
|
Major shareholder notifications
|
9 |
5 |
17 |
|
Disclosure of inside information etc
|
28 |
32 |
8 |
|
Notification of managers' transactions
|
39 |
25 |
20 |
|
Total
|
76 |
75 |
45 |
|
Reprimands and orders
|
|
|
|
|
Takeover bids
|
0 |
11 |
0 |
|
Major shareholder notifications
|
6 |
2 |
0 |
|
Disclosure of inside information etc
|
10 |
3 |
1 |
|
Notification of managers' transaction
|
33 |
15 |
13 |
|
Total
|
49 |
31 |
14 |
|
Pecuniary sanctions
|
|
|
|
|
Takeover bids
|
0 |
0 |
0 |
|
Major shareholder notifications
|
0 |
1 |
0 |
|
Disclosure of inside information etc
|
0 |
0 |
0 |
|
Notification of managers' transaction
|
0 |
0 |
0 |
|
Total
|
0 |
1 |
0 |
|
Police reports forwarded to the public prosecutor
|
|
|
|
|
Takeover bids
|
0 |
0 |
0 |
|
Major shareholder notifications
|
0 |
0 |
0 |
|
Disclosure of inside information etc
|
1 |
0 |
0 |
|
Notification of managers' transaction
|
0 |
0 |
0 |
|
Total
|
1 |
0 |
0 |
Violation of prospectus regulation
|
Year
|
2018 |
2019 |
2020 |
|
Reported cases
|
0 |
1 |
0 |
|
Reprimands and orders
|
0 |
0 |
0 |
|
Police reports forwarded to the public prosecutor*
|
0 |
1 |
0 |
Violation of transaction reporting regulation
|
Year
|
2018 |
2019 |
2020 |
|
Reported cases
|
13 |
18 |
38 |
|
Reprimands and orders
|
0 |
0 |
0 |
| Pecuniary sanctions |
0 |
0 |
0 |
|
Police reports forwarded to the public prosecutor*
|
0 |
0 |
0 |
Violation of reporting of net short positions
|
Year
|
2018 |
2019 |
2020 |
|
Reported cases
|
6 |
12 |
11 |
|
Reprimands and orders
|
3 |
5 |
6 |
|
Police reports forwarded to the public prosecutor*
|
0 |
0 |
0 |
* Several police reports may be included in one case
** Observations in the individual years are not necessarily directly comparable, as different calculation methods have been used in the period