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
-
Bank of England trials AI to detect fraud in real-time payments
-
FCA leads global week of action against rogue finfluencers
-
UK financial watchdog to lift ban on crypto ETNs
-
Lloyds executive departs days after launching premier banking service
-
Visa hails EU Digital Identity Wallet as ‘gamechanger’ for payments and banking
-
Unicredit invests €10m in lending platform Banxware
.jpg)
.png)
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a four-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.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories