The Securities Market Commission (CMVM) has decided to suspend, with immediate effect, Artur Trindade from the presidency of OMIP, an entity operating in the Iberian energy market, and from the vice-presidency of OMIP Clear, an entity operating in the renewables market.
At issue is the EDP trial, in which the former secretary of state of Passos Coelho is accused of the crime of passive corruption. According to the CMVM “Following the analysis of the facts presented in the five rulings received during the hearing of the interested parties and the elements already determined by the CMVM, as well as the risks underlying the continuation in office”, the stock exchange police suspension of functions has an immediate effect.
It is recalled that Artur Trindade was one of the last defendants to be heard by Judge Carlos Alexandre, during the investigation phase of the EDP trial, and the enforcement measures applied are still unknown.
Read the statement:
The Securities Market Commission today notified Artur Álvaro Laureano Homem da Trindade, OMIP – Pólo Português, SGMR, SA, OMIClear CCSA and the remaining managers of each of these entities, the issue of a precautionary measure requiring Artur Álvaro Laureano Homem from Trindade the immediate suspension of the exercise of the functions of chairman of the board of directors of OMIP – Pólo Português, SGMR, SA and vice chairman of the board of directors of OMIClear CCSA
Following the analysis of the facts presented in the five rulings received during the hearing of the interested parties and of the elements already determined by the CMVM, as well as the risks underlying the continuation in office, the CMVM has decided to take the decision to suspend the projected functions in the notification of 21 September.
This provisional and precautionary measure aims to ensure, for reasons of public interest, the preventive abstention of Artur Álvaro Laureano Homem da Trindade from exercising his administrative functions in such entities until a decision is taken in the process of re-evaluation of the Administrative eligibility includes eligibility – for the exercise of these functions, which also began on 21 September.
The CMVM believes that there is a doubt based on the suitability of Artur Álvaro Laureano Homem da Trindade for the performance of the regulated positions it holds, undermining the necessary confidence of investors and other economic agents in the efficient functioning of the markets and constituting a risk for the stability of the financial system, even more relevant with a regulated market management company, a clearing house and a central counterparty, which are fundamental structures for the smooth functioning of capital markets.