The financial watchdog of Sweden has launched an investigation into whether the country’s stock exchange violated market regulations by not reporting suspected insider trading.
In a statement published Thursday, the Financial Supervisory Authority (FSA) said that it will investigate Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange, for possible breaches during several major corporate events in 2021 and 2022.
The FSA said: "There are strong reasons to initiate an investigation as Nasdaq is a very important player in the market.
“A non-functioning monitoring at the largest operator entails great risks,” it added.
The stock exchange was raided last week by Sweden’s Economic Crime Authority to gather evidence of suspected insider dealing, but added that Nasdaq itself was not under suspicion.
Nasdaq said that it was cooperating with both parties, and that it was conducting its own investigations.
Internal records at Nasdaq show the company had made referrals to the FSA “surrounding transactions in certain stocks that are included in the FSA's investigation.”
Latest News
-
BBVA to roll out genAI tools for 100,000 employees in partnership with Google
-
Qonto applies for banking license in France
-
FCA expands bullying and harassment rules beyond banks to 37,000 firms
-
Zopa opens Manchester office with plans for 500 jobs
-
Government plans new tools to help FinTechs navigate complex regulation
-
Paxos launches dollar stablecoin in the EU
.jpg)
.png)
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories