Sweden's Financial Supervisory Authority hands out €9.5m fine to digital bank 

Mark Battersby
clock • 3 min read

Sweden's Financial Supervisory Authority has fined digital savings and investment bank Nordnet €9.5m for not having met requirements for intraday short-selling services. Issues with Nordnet's internal guidelines, procedures, risk management and risk assessment as well as in its duty of care to its customers, were highlighted by the Financial Supervisory Authority in a statement on 25 May.   "The investigation was initiated by the short-selling transactions of Nordnet's customers in shares of Moment Group AB on 19 February 2021 that resulted in a large number of shares being sold short...

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