Swedbank in a statement Tuesday said it has been notified by the Swedish Financial Supervisory Authority (SFSA) that an investigation by the regulator concerning suspected market abuse by the bank has been closed “with no remark.”

The SFSA opened its investigation in September 2020 into suspected breaches of the Market Abuse Act by the bank. At the time, Swedbank said the probe concerned the period Sept. 20, 2018, to Feb. 20, 2019, and pertained “to disclosure of insider information and the obligation to establish an insider list (Articles 17 and 18) in connection with the disclosure of suspected money laundering within the company.”

Swedbank said Tuesday the SFSA closed its investigation after Nasdaq Stockholm’s disciplinary committee in May ordered the bank to pay a fine of 12 annual fees of 46.6 million Swedish kronor (U.S. $5.4 million) for shortcomings regarding the distribution of information between 2016-19. The SFSA confirmed this in a separate statement.

“One by one, we leave the historical issues behind to instead fully focus on our customers’ future,” said Swedbank President and CEO Jens Henriksson.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more.View full Profile

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