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Home BUSINESSNBI, Fiva to discuss Nokian Tyres incident
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Sun, 06 Mar, 2016 12:01:02 AM
FTimes – STT Report, Mar 6
 
File Photo – Lehtikuva.
The National Bureau of Investigation (KRP) and Helsinki police economic crime investigators will have a joint meeting with the Financial Supervisory Authority (Fiva) soon regarding stock exchange transactions by the management of Nokian Tyres, reported a Finnish language daily Helsingin Sanomat.
 
According to the newspaper, the decision to initiate an investigation has not yet been made, but the police and Fiva will agree to a division of labour next week, or possibly the week after at the latest. 
 
The authorities are also considering opening an investigation into Nokian Tyres former and current management activities.
 
According to Fiva's market administrator Laila Hietalahti, suspicions of insider trading are almost always handled by the police. 
 
Hietalahti, however, refused to speculate whether Nokian Tyres would come under investigation.
 
“We cannot comment on individual cases. First, we always do a report, after which we will decide what happens,” Hietalahti told the newspaper.
 
Helsingin Sanomat reported on Friday that Nokian Tyres current management sold euro 600,000 in options before the publication of the company's tire test fraud. 
 
According to the newspaper, nine of the 12 members of the executive board sold op-tions.
 
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