Authorities to investigate seven investment banks
The Swedish Financial Supervisory Authority, Finansinspektionen (FI), said it will investigate seven other Swedish financial services companies in the wake of the valuation scandal at Carnegie, the newspaper Dagens Industri reported.
"We have chosen to investigate those companies which have similar trading activities to Carnegie. We are talking about the valuation of complex securities. The same valuation problems Carnegie had, these other companies have as well," Ingrid Bonde, head of FI said.
"We are also looking a bit extra at the connection between increased risk volumes and levels, and the bonus environment," she added.
The banks and investment banks to be investigated are HQ Bank, Kaupthing,
Nordea, Erik Penser Fondkommission, SEB, Swedbank, and Öhmans.
Comments
See Also
"We have chosen to investigate those companies which have similar trading activities to Carnegie. We are talking about the valuation of complex securities. The same valuation problems Carnegie had, these other companies have as well," Ingrid Bonde, head of FI said.
"We are also looking a bit extra at the connection between increased risk volumes and levels, and the bonus environment," she added.
The banks and investment banks to be investigated are HQ Bank, Kaupthing,
Nordea, Erik Penser Fondkommission, SEB, Swedbank, and Öhmans.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.