May 29, 2022

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Finansavisen: Investor Arne Fredly receives 1 million fees from Finanstilsynet for not reporting stock sales

Finansavisen: Investor Arne Fredly receives 1 million fees from Finanstilsynet for not reporting stock sales

This summer, Arne Fredly completed a major sale of shares in Axsis Geo Solutions, which is now Carbon Transition. With sales, Fredley ended up with less than five percent of ownership, resulting in a stalled liability. But Friedley did not mention the sale in time.

Finanstilsynet now gives him a fee of 1 million kroner, Finansavisen writes. Friedley himself believes that this is 10 times greater than is usual in the case of a violation of the duty of science, he told the newspaper.

Finanstilsynet will have access to a number of recordings between Friedley and ABG broker Sundal Collier who executed the deal. There, Friedley is said to have asked the broker to keep a close eye on the sale of shares to select other investors. As for Finansavisen, Friedley says he sees nothing wrong with that.

Friedley sold 100 million shares of Axxis stock for the first time on Thursday, June 17, bringing it below the five percent limit. Sell ​​more on Friday, June 18 and Monday, June 21. Only on Monday should Friedley realize that the first sale had led to a commitment to science. By that time, the deadline to report the sale had already passed.

According to Finansavisen, Friedley is said to have told the broker after realizing, “We have to report vettu, we have to report ***”.

Friedley is not happy with Finanstilsynet’s evaluation.

– That’s ridiculous, wanting to harass me. They imply that I had planned not to report while the opposite is mentioned in the losses. I had no reason not to report when two thirds of the position had already been sold. He also tells Finansavisen that he had no consequences for anyone.

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