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Criminal liability for faulty registration -

November 2009 - Corporate & Commercial. Legal Developments by Delphi.

More articles by this firm.

- for faulty registration of management participation programmes in privately held companies

Not all shareholders, managing directors and board of directors are aware of the Swedish legal requirement according to the Swedish Companies Act (Sw. Aktiebolagslag (2005:551)), to register a director’s or managing director’s shareholding in a group company, such as a parent company, in the shareholders’ register of another group company, such as a subsidiary.

This could be a “ticking bomb”, and a hidden corporate governance risk in many privately held company groups in Sweden, such as private equity portfolio companies or other companies that have, or have had, management participation programmes.

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