CNMV imposes severe fines on Pescanova and its former president
Pescanova's former president Manuel Fernandez de Sousa. (Photo: Stock File)
The National Securities Market Commission (CNMV) has imposed two fines on Pescanova for a total amount of EUR 450,000 and further two on the executive former president of the company Manuel Fernandez de Sousa-Faro, totalling EUR 225,000, for violations of the Securities Market Law, as it was published on Saturday in the Official State Bulletin (BOE).
The stock supervisor imposed a fine of EUR 150,000 on Pescanova for committing "a serious breach by conducting market manipulation practices during the period between 29 January and 29 April 2009 in relation to its own shares".
Due to the same "serious infringement", a fine of EUR 75,000 was imposed to the president of Pescanova, Manuel Fernandez de Sousa-Faro.
Moreover, the firm ATL 12 Capital Inversiones, AV, SA, was fi...
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