The SWX Swiss Exchange has reprimanded Société Bancaire Privée for a violation of its listing rules concerning reporting deadlines for the disclosure of management transactions. A non-executive member of the board of directors of Société Bancaire Privée acquired 64,450 bearer shares of that bank for a total value of SFr10’995’842 in May 2006. This transaction was reported to the company correctly and prior to the reporting deadline but there was a delay in reporting the transaction to SWX. The SWX has assumed that the violation of the reporting rules occurred as a result of negligence, but given the unusual size of the transaction and the great significance it attaches to reporting it in a timely manner, the exchange decided to issue a reprimand that has now acquired legal force. Transactions of members of the boards of directors and management board of listed share issuer’s that exceed SFr100,000 per calendar month must be reported to the SWX by the issuer within two trading days of receiving the information.