Stockholm, May 5, 2021 - The Disciplinary Committee of Nasdaq Stockholm has
found that Swedbank AB ("Swedbank" or the "Company") has breached the rules of
Nasdaq Stockholm (the "Rulebook") and therefore ordered the Company to pay a
fine of twelve annual fees, corresponding to an amount of SEK 46,575,000.
The Disciplinary Committee concludes that Swedbank has breached item 3.1 of the
Rulebook by not having handled well-known shortcomings in the Company's
processes and routines for anti-money laundering as inside information in
accordance with the EU Market Abuse Regulation.
The Disciplinary Committee also concludes that Swedbank has breached item 3.1
of the Rulebook by not having handled information relating to a television
program by Sveriges Television's Uppdrag granskning in February 2019, on
suspected money laundering in the Company's Baltic operations, as inside
information.
Taking into account the abovementioned breaches, and the findings in relation
to Swedbank's systems and procedures for handling of inside information, the
Disciplinary Committee concludes that the Company has not had adequate capacity
for providing information to the market as required under the Rulebook.
The Disciplinary Committee takes a serious view of the Company's violations,
which have risked damaging the public's confidence in the exchange and the
Swedish securities markets in general, and consequently orders the Company to
pay a fine of twelve annual fees.
The Disciplinary Committee's decision is available at:
https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2021
About the Disciplinary Committee
The role of Nasdaq Stockholm's Disciplinary Committee is to consider suspicions
regarding whether Exchange Members or listed companies have breached the rules
and regulations applying on the Exchange. If the Exchange suspects that a
member or company has acted in breach of the rules, the matter is referred to
the Disciplinary Committee. Nasdaq Stockholm investigates the suspicions and
pursues the matter and the Disciplinary Committee issues a ruling regarding
possible sanctions. The sanctions possible for listed companies are a warning,
a fine or delisting. The fines that may be imposed range from one to 15 annual
fees. The sanctions possible for Exchange Members are a warning, a fine or
debarment. Fines paid are not included in the Exchange's business but are
attributed to a foundation supporting research in the securities market. The
Disciplinary Committee's Chairman and Deputy Chairman must be lawyers with
experience of serving as judges. At least two of the other members of the
Committee must have in-depth insight into the workings of the securities
market.
Members: Former Supreme Court Justice Marianne Lundius (Chairman), Supreme
Court Justice Ann-Christine Lindeblad (Deputy Chairman), Company Director
Joakim Strid, Company Director Anders Oscarsson, Lawyer Wilhelm Lüning, Company
Director Jack Junel, MBA Ragnar Boman, MBA Carl Johan Högbom, Lawyer Patrik
Marcelius, Authorized Public Accountant Magnus Svensson Henryson, Former
Authorized Public Accountant Svante Forsberg, Lawyer Erik Sjöman and Supreme
Court Justice Petter Asp.
About Nasdaq
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and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
Nasdaq Media Contact
David Augustsson
+46 (8) 4056135
david.augustsson@nasdaq.com© 2021 GlobeNewswire
