The CNMV Fines Azora for Submitting Incomplete Financial Information

26 February 2020 – Cinco Días

Spain’s National Securities Market Commission (CNMV) has fined the fund manager Azora Gestión SGIIC €90,000 for committing a serious infraction after it submitted incomplete information about its company Lazora to the stock market regulator. The fine relates to information submitted in the annual accounts, statement of reserves and periodic reports between the years 2014 and 2017.  

On 25 February, the Official State Gazette (BOE) published details of the sanction, according to Efe. Sources at the company acknowledge that the fine was imposed due to a breach of its information obligations after it allegedly sent incomplete information to the CNMV.

Original Story: Cinco Días

Translation/Summary: Carmel Drake

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