SEB receives a remark and must pay an administrative fine of SEK 1 billion for deficiencies in its work to prevent money laundering risks.
Finansinspektionen is issuing JAK Medlemsbank (516401-9969) a remark. JAK Medlemsbank must also pay an administrative fine of SEK 1.6 million.
Finansinspektion (FI) immediately withdraws the authorisation for Exceed Capital Sverige AB. Under FI’s decision, the company loses all its authorisations and may no longer conduct regulated business. The decision will be presented by FI Director General Erik Thedéen and Chief Legal Counsel Eric Leijonram at a press conference today, Tuesday, 2 June, at 2:00 PM.
Finansinspektionen withdraws all Exceed Capital Sverige AB’s (Exceed) authorisations to conduct securities business and its authorisation for ancillary services, authorisation to conduct insurance distribution, and authorisation to be registered as a manager of fund units.
Finansinspektionen intervens when issuers subject to Chapter 16, section 1, first paragraph of the Securities Market Act (2007:528) do not prepare their financial statements in accordance with current regulations. We issue a caution and an order of correction. We can also decide on an administrative fine and can combine the order with a fine.
JM has been in violation of the international financial reporting standard IFRS 10 in its consolidated financial statements for 2017 by not including – consolidating – tenant-owners associations during the so-called production phase. FI is issuing JM a caution and ordering the company to take corrective action in future financial statements. The correction shall be implemented no later than in the company’s half-yearly report for 2020.
Skandia Liv has not calculated its capital need and commitments to its customers realistically or correctly for several years. This has entailed that the company’s customer protection and the company’s solvency have not been fairly assessed. Skandia Liv is therefore receiving a warning and an administrative fine of SEK 35 million.
Skandia, ömsesidigt (Skandia Liv ) receives a warning and must pay an administrative fine of SEK 35 million.
Swedbank AB receives a warning and must pay an administrative fine of SEK 4 billion for serious deficiencies in its work to combat money laundering.