HALISTER1: Swedbank: Any Potential FSA Penalty May Be Non-Significant: DI

Swedbank: Any Potential FSA Penalty May Be Non-Significant: DI

(Bloomberg) -- Swedbank acting CEO Birgitte Bonnesen says any potential penalty from FSA, which is looking at bank’s handling of possible conflicts of interest, “would not end up being significant,” Dagens Industri reports, citing Bonnesen.
  • What’s happened at Swedbank doesn’t affect customers and therefore doesn’t carry as big a penalty as, for example, breaches of money laundering rules, Bonnesen says
  • Says she has confidence in CFO Goeran Bronner
  • NOTE: Feb. 9: Swedbank CEO Ousted by Board as Permanent Replacement Sought
  • NOTE: Swedbank was focus of series of articles last year by DI, which reported that CFO Bronner and Magnus Gagner Geeber, then head of large corporates and institutions, had made real estate investments that could be considered a conflict of interest given their leadership positions
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SWEDA SS (Swedbank AB)

People
Birgitte Bonnesen (Swedbank AS/Estonia)
Goeran Bronner (Swedbank AB)
Magnus Gagner-Geeber (Swedbank AB)

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