Swedish Cabinet Calls in Watchdog to Explain Swedbank Crisis
Photographer: Johan Jeppsson/Bloomberg
This article is for subscribers only.
Sweden’s Finance Ministry is calling in its banking regulator to explain what went wrong after money laundering allegations exploded at one of the nation’s largest banks.
After briefing parliament’s finance committee on Thursday, a top official at the ministry said it was taking the allegations against Swedbank AB “very seriously” and will also meet the director general at the Financial Supervisory Authority so he can “explain the latest events.”