Nasdaq Stockholm Fined $9.6M For Compliance Breaches

Nasdaq Stockholm Fined $9.6M

The Swedish Financial Supervisory Authority, known as Finansinspektionen, announced Wednesday that it has fined Nasdaq Stockholm 100 million Swedish krona ($9.6 million). The penalty is due to the exchange’s failure to maintain adequate trade monitoring systems and initiating trading in financial instruments without the necessary approval.

Nasdaq Stockholm Fined $9.6M : Breaches of EU Regulations

Finansinspektionen stated that Nasdaq Stockholm failed to comply with the EU Market Abuse Regulation and the Securities Market Act. However, the breaches were not severe enough to warrant revoking the exchange’s authorization or issuing a formal warning.

“Finansinspektionen makes the assessment that the violations have been of such a nature that there are grounds on which to intervene against Nasdaq Stockholm,” the Swedish regulator said. “Finansinspektionen is therefore issuing Nasdaq Stockholm a remark and an administrative fine of 100 million Swedish krona.”

Failure to Prevent Insider Dealing

The Swedish regulator highlighted that Nasdaq Stockholm did not maintain effective arrangements and procedures to prevent and report suspected insider dealing during four major events in 2021 and 2022. Details on these events were not provided.