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The stock market policeman imposes a fine of 100,000 euros on François Fornieri

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The Liège businessman declared late, erroneously, or forgot to declare various exchanges of Mithra shares for a cumulative amount of 25 million euros.


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NOTew glitch for the Liège businessman François Fornieri. The Financial Markets Constable (FSMA) announced on Tuesday that it had imposed an “administrative penalty” of 100,000 euros on the former CEO of Mithra, a listed company specializing in the women’s health sector.

As a director of this company, a position he held until June 20, 2022 before resigning, Mr. Fornieri had the obligation to declare to the regulator, within three working days, any significant transfer of Mithra shares. However, between March 26, 2021 and July 16, 2021, “Mr. Francesco Fornieri failed to declare, declared late or even declared erroneously sales and a transfer of shares issued by the company Mithra Pharmaceuticals. These operations represented a cumulative amount of more than 25 million euros, ”deplores the gendarme in a press release. “The FSMA considered that these actions constituted a breach of Article 19 of the Market Abuse Regulation on the part of Mr. Francesco Fornieri. The FSMA’s investigation resulted in a settlement, which provides in particular for the payment of a fine of 100,000 euros. The FSMA may propose such transactions to wipe the slate clean when the person under investigation has cooperated in the investigation.



For the record, François Fornieri is, in another case related to Mithra shares, suspected of insider trading. The Liège public prosecutor’s office recently completed its indictment and is calling for the businessman and four other people, including Luciano D’Onofrio, to be sent to corrections.