It has been announced by the Financial Supervision Authority of Norway (FSA) that Danske Bank has been fined $4.42 million (50 million Norwegian Krone) for manipulating the market.
Speaking in a statement, Finanstilsynet, Norway’s financial watchdog, explained that the fine was in connection with the issuance of a government bond from February 2023.
Finanstilsynet explained that it “believes that the swap rate was driven up by Danske Bank to an abnormal or artificial level at the time of pricing.”
It was noted that Danske Bank had informed the Danish FSA that the bank had seen some internal goings-on that could lead to suspicion of market manipulation, with the case being transferred to Norway.
Danske Bank claimed that it “acknowledges that the bank’s handling of its role in the bond issue did not sufficiently balance its interests in relation to the bond issuer.”
Image: https://danskebank.com
The post Danske Bank fined over $4 million by Norway FSA over manipulation of market first appeared on IceNews – Daily News.
Source link : https://www.icenews.is/2025/01/22/danske-bank-fined-over-4-million-by-norway-fsa-over-manipulation-of-market/?utm_source=rss&utm_medium=rss&utm_campaign=danske-bank-fined-over-4-million-by-norway-fsa-over-manipulation-of-market
Author : Jonathan Baker
Publish date : 2025-01-22 10:03:20
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