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Jorma Ollila fined for concealing Luxembourg investments

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Screen Shot 2014-02-10 at 16.29.29Extract from an article published 26 March 2014 by

Jorma Ollila, who is now chairman of the board of both Royal Dutch Shell and steelmaker Outokumpu, has been fined 3,000 euros by Finland’s Financial Supervisory Authority (Fiva) for failing to make a timely disclosure that he owns an investment company called Kestrel SA. The company is based in Luxembourg and was worth 8.2 million euros at the end of 2012, reports the daily Helsingin Sanomat. The paper says he told Fiva that he “mistakenly” neglected to notify authorities of the firm…

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