⁍ Swedbank SWEDa.ST is being investigated for past suspected market abuse by the Financial Supervisory Authority.
⁍ Swedbank said it was assisting the watchdog.
⁍ Sweden’s FSA in March fined Swedbank a record 4 billion Swedish crowns for serious deficiencies in its anti-money-laundering work.
– Sweden’s Financial Supervisory Authority said Friday it is investigating “suspected money laundering within the company” at Swedbank, the country’s second-largest lender and the subject of a major money-laundering scandal last year. The FSA said in a statement that the investigation covers the period from September 2018 to February 2019, during which time Swedbank is suspected of disclosing “insider information and the obligation to establish an insider list … in connection with the disclosure of suspected money laundering within the company,” Reuters reports. Swedbank said it is assisting the watchdog. Sweden’s FSA in March fined Swedbank a record $456 million for serious deficiencies in its anti-money-laundering work and said the bank had withheld information from authorities. Its shares were down 3% at 1142 GMT.
Source: https://www.reuters.com/article/us-swedbank-investigation/swedbank-says-being-investigated-over-suspected-past-market-abuse-idUSKBN269292