Sanctions

The trading surveillance department Surveillance & Enforcement may, in the event of a violation of the regulatory provisions, impose sanctions on traders or apply to the Sanctions Commission to impose sanctions on participants.

If the rules laid down in the Rule Books or directives of SIX Swiss Exchange Ltd, SIX Structured Products Exchange Ltd and/or SIX Corporate Bonds AG are breached, Surveillance & Enforcement may impose sanctions against trader and/or the Sanctions Commission may impose sanctions against the participant.

Pursuant to Section 19 of the Rule Book of SIX Swiss Exchange Ltd, Section 18 of the Rule Book of SIX Structured Products Exchange Ltd and Section 19 of the Rule Book of SIX Corporate Bonds AG, the following sanctions may be imposed:

I. On participants

  • reprimand 
  • suspension
  • exclusion 
  • fines and/or contractual penalties of up to CHF 10 million

II. On traders

  • reprimand 
  • suspension 
  • revocation of registration 

Sanction notice of Surveillance & Enforcement in its function as sanctioning body

Year                            Reprimand
trader
Suspension
trader
Revoking of trader
registration 
2015 - - -
2014 - - -
2013 - - -
2012 1 - -
2011 1 - -
2010 1 - -
2009 - - -
2008 1 1 -
2007 - - -
2006 - - -
2005 2 1 -

Sanction Decisions of the Sanctions Commission / Disciplinary Commission against participants

Year                                                                     Reprimand participant
Suspension participant
Expulsion participant
Fine participant
2015 - - - 2
2014 - - - -
2013 - - - -
2012 - - - -
2011 1 - - 2
2010 2 - - -
2009 3 - - 2
2008 3 - - 2
2007 5 - - 1
2006 2 - - -
2005 2 - - -

Sanction Decisions of the Sanctions Commission / Disciplinary Commission against traders

Year                                               Reprimand 
trader
Suspension trader Expulsion trader Fine participant
2012 - 2 - -
Decision of Description Sanction Body
11.09.2015 Violation of duty to register for utilisation of the Exchange System Fine SC
19.02.2015 Violation of duty to register for utilisation of the Exchange System Fine SC
30.11.2012 Unfair trading practices and posing a risk to market integrity Reprimand SVE
08.11.2012 Violation of the provisions governing the audit of participants - SC
28.08.2012 Violation of market conduct rules Suspension SC
28.08.2012 Violation of market conduct rules Suspension SC
03.11.2011 Violation of market integrity Fine SC
04.08.2011 Market manipulation Reprimand SVE
04.07.2011 Violation of the provisions governing the audit of participants Fine SC
10.06.2011 Violation of duty to register for utilisation of the Exchange System Reprimand SC
13.10.2010 Market manipulation Reprimand SVE
19.04.2010 Responsibility of the participant for the order-routing System Reprimand SC
08.03.2010 Violation of duty to register for utilisation of the Exchange System Reprimand SC
03.07.2009 Violation of duty to register for utilisation of the Exchange System Fine SC
13.03.2009 Prohibited agent-agent crosses Reprimand SC
06.02.2009 Violation of Rules concerning the reporting obligation Reprimand SC
06.02.2009 Waiving of sanction - SC
06.02.2009 Violation of Rules concerning pre-arranged trades Reprimand SC
06.02.2009 Violation of Rules concerning the duty to trade on the exchange Fine SC
30.12.2008 Violation of Rules concerning reporting of off order book transactions Fine SC
03.11.2008 Year-end price manipulation Suspension SVE
23.05.2008 Responsibility of the participant for the order-routing System Reprimand SC
23.05.2008 Not keeping a log-book Reprimand SC
24.04.2008 Year-end price manipulation Reprimand SVE
31.01.2008 Violation of duty to register for utilisation of the Exchange System (I) Fine SC
31.01.2008 Violation of duty to register for utilisation of the Exchange System (II) Reprimand SC
04.01.2008 Incorrect report of the agreed time Reprimand SC
20.09.2007 Violation of duty to register for utilisation of the Exchange System Reprimand SC
19.09.2007 Violation of duty to register for utilisation of the Exchange System Fine SC
09.02.2007 Violation of the duty to trade on order book Reprimand SC
17.11.2006 Violation of duty to register for utilisation of the Exchange System Reprimand DC
30.01.2006 Violation of duty to register for utilisation of the Exchange System Reprimand DC
08.11.2005 Unfair trading practices Reprimand, Suspension SVE
30.09.2005 Violation of duty to register for utilisation of the Exchange System Reprimand DC
13.07.2005 Violation of duty to register for utilisation of the Exchange System Reprimand DC
06.05.2005 Year-end price manipulation Reprimand SVE

Legend

SC = Sanctions Commission
SVE =  Surveillance & Enforcement
DC = Disciplinary Commission (replaced by Sanctions Commission)