Brief: Watchdog Imposes EUR 60,000 Fine On Ålandsbanken

Alandsbanken Abp

28/02/2023 12:51

Feb 28 (Reuters) - Alandsbanken Abp  ALBAV.HE :
    * FINANCIAL SUPERVISORY AUTHORITY IMPOSES ADMINISTRATIVE
FINE ON
ÅLANDSBANKEN FOR INADEQUATE REPORTING ON DERIVATIVE CONTRACTS
    * ACCORDING TO FINANCIAL SUPERVISORY AUTHORITY (FIN-FSA),
BANK OF
ÅLAND DID NOT VERIFY PERFORMANCE OF ITS REPORTING RELATED TO
DERIVATIVES CONTRACTS WITH ADEQUATE CARE IN ACCORDANCE WITH
APPLICABLE LAW
    * FIN-FSA HAS IMPOSED AN ADMINISTRATIVE FINE OF EUR 60 000
ON
ÅLANDSBANKEN
    * REASON FOR FINE IS INADEQUACIES IN BANK OF ÅLAND'S
REPORTING ON
DERIVATIVE CONTRACTS IT HAD ENTERED INTO DURING 2016-2021

Source text for Eikon:  ID:nGNE7VWhLw 
Further company coverage:  ALBAV.HE 

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