(Finance) – The Finansinspektionen, the Swedish financial supervisory authority, has decided to impose Nasdaq Stockholm a administrative fine of 100 million SEK (almost 9 million euros).
Finansinspektionen investigated whether Nasdaq Stockholm, in conjunction with four major corporate events in 2021 and 2022, fulfilled its obligations to maintain effective arrangements, systems and procedures in monitoring trading and report suspected abuse of inside information to authority. Furthermore, it investigated whether Nasdaq Stockholm, on two occasions in 2022 and 2023, initiated trading in financial instruments on the regulated market of Nasdaq Stockholm in violation, since Finansinspektionen had not approved and registered the prospectuses for the tools.
Investigations show that “there have been shortcomings” in the operations of Nasdaq Stockholm. The Finansinspektionen assesses that the violations were of such a nature as to justify action against Nasdaq Stockholm. However, the violations are not so serious as to justify a revocation of the stock exchange’s authorization.