The National Securities Market Commission (CNMV) has imposed a fine of 190,000 euros on Soltec Power Holdings for a violation classified as serious, for having conveyed inaccurate information to the market regarding the company's results for the fiscal year 2023.
As reported this Monday by the Official State Bulletin (BOE), the fine from the stock market supervisor is based on the breach of regulations concerning market abuse, as erroneous data was sent through a communication of "Other Relevant Information" "of Soltec's results for the fiscal year 2023 with incorrect information".
The sanctioned conduct falls under the provisions of article 297.1.e), in relation to 297.2.d), of the Securities Market and Investment Services Law, for failing to comply with the provisions of article 17, in connection with article 7, both of Regulation (EU) No. 596/2014 of the European Parliament and of the Council, of April 16, 2014, regarding market abuse.
The supervisory body has publicly disseminated this sanction, agreed upon by Resolution of the CNMV Council dated July 17, after the company has withdrawn from filing appeals in the administrative route, which has resulted in the fine being final through that channel.
However, the resolution approved by the CNMV has only become final in the administrative sphere, so it can still be challenged before the contentious-administrative jurisdiction, specifically before the Contentious-Administrative Chamber of the National Court.