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IM Skaugen fined by Norway’s financial supervisory authority

IM Skaugen has been fined NOK 164,600 ($19,800) by Norway’s financial supervisory authority Finanstilsynet for “willfully or negligently” publishing its annual report after the required deadline.

Norway’s Securities Trading Act states that companies listed on the Oslo Børs must publish their annual report within four months of the end of the financial year.

IM Skaugen’s annual report for 2015 should have been made public by April 30 this year, but was in fact published on May 27, Finanstilsynet said in a statement.

The owner of LNG and LPG carriers may appeal Finanstilsynet’s decision within three weeks.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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