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IM Skaugen fined by Norway’s financial supervisory authority

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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