SEB may be fined for various forms of fund inconsistencies


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Friday, 20 May 2011
Giant bank, SEB may be fined Skr2 million for deficiencies in funds which had been stored at the bank. SEB will also receive a complaint, writes the Swedish Financial Supervisory Authority (FI) in a press release.

The lack of a depositary for over 400 funds has been around for a long time. Between 2006 and 2010, FI has found flaws and violations of both law and fund provisions of several funds that the bank kept.
SEB has recently made efforts to correct the deficiencies.
By Team

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