Stockholm Stock Exchange’s Disciplinary Committee warns stockbroker
A stockbroker and two clients reached an agreement to sell shares and then to immediately repurchase the same shares at a predetermined price. Since such a practice has no commercial meaning, it contravenes the Exchange’s trading rules. Moreover, the two transactions were not reported to the Exchange within the period of time applying to transactions agreed outside the Exchange. Accordingly, the Stockholm Stock Exchange’s Disciplinary Committee has decided to warn the stockbroker.On August 22, 2005, the stockbroker, who is employed by a member of the Stockholm Stock Exchange, had agreed