18.12.2009 Hoiatusteade ABB Ltd. tegevuse kohta (Šveits)

Agreement reached between SIX Exchange Regulation and ABB Ltd.

SIX Exchange Regulation has reached an agreement with ABB Ltd. in connection with a violation of the Listing Rules regarding interim financial reporting. As determined by SIX Exchange Regulation, ABB Ltd. violated the disclosure provisions under US GAAP in the company?s 30 June 2009 interim financial statements.

Agreements to date in connection with financial reporting can be found at:
http://www.six-exchange-regulation.com/enforcement/media_releases/agreements/financial_reporting_en.html

Should you have any questions, please feel free to contact Werner Vogt, Head Media Relations. Phone: +41(0)58 854 26 75
Fax: +41(0)58 854 27 10
E-mail: pressoffice at six-swiss-exchange dot com

SIX Exchange Regulation
SIX Exchange Regulation performs the functions assigned under Swiss federal law and enforces and monitors compliance with the rules laid down by the Regulatory Board. SIX Exchange Regulation imposes sanctions in so far as it is authorised to do so by the regulations, or submits sanction requests to SIX Swiss Exchange's Sanction Commission.
SIX Exchange Regulation's independence from SIX Swiss Exchange's operating business is guaranteed by its direct subordination to the Chairman of the Board of Directors of SIX Group. SIX Exchange Regulation consists of the divisions Listing & Enforcement, responsible for regulating issuers, and Surveillance & Enforcement monitoring trading.

ABB Ltd., which is listed according to the Main Standard on the SIX Swiss Exchange Ltd., violated the provisions of US GAAP accounting standards in its 30 June 2009 interim financial statements by either failing to disclose or insufficiently disclosing the required information on business segments, financial instruments, contingent liabilities and pension costs.

In the agreement with SIX Exchange Regulation, the company has committed to taking measures that in future will ensure the completeness of the information included in the notes to its interim financial reports as prescribed under US GAAP. Furthermore, ABB Ltd. had decided during the investigation of SIX Exchange Regulation to already add the required disclosures to its 30 September 2009 interim financial statements.

The SIX Swiss Exchange Rules of Procedure permit investigations to be concluded with an agreement if this would allow the public to be informed more rapidly or more fully than would be the case with sanction proceedings concluded in the regular manner.

Periodic financial reporting is part of the information that contributes to a properly functioning market, as required by the Swiss Stock Exchange Act and the Listing Rules. For this system to work, issuers must comply with the applicable financial reporting requirements. One of the tasks of SIX Exchange Regulation is to ensure that the transparency rules imposed on issuers by the Regulatory Board are enforced.

Information on financial reporting regulations can be found at:
http://www.six-exchange-regulation.com/obligations/financial_reporting_en.html