Brief: Sparebank 1 Ostlandet Notifies Of Administrative Fine From FSA
07/06/2024 14:33
June 7 (Reuters) - Sparebank 1 Ostlandet SPOLS.OL :
* NOTIFICATION OF ADMINISTRATIVE FINE FROM FSA
* CONSIDERING IMPOSING A PENALTY OF NOK 30 MILLION ON BANK
* THIS CORRESPONDS TO APPROXIMATELY 0.6 PERCENT OF BANK'S
TURNOVER
IN 2023 AND THUS CONSTITUTES AROUND 6 PERCENT OF MAXIMUM AMOUNT
FSA CAN IMPOSE
* POTENTIAL PENALTY DUE TO INADEQUATE COMPLIANCE WITH
ANTI-MONEY
LAUNDERING REGULATIONS
* FSA HAS NOT COMPLETED CASE WITH A FINAL CONCLUSION, WHICH
MEANS
THAT BANK CANNOT YET COMMENT ON CONTENT OF PRELIMINARY REPORT
Source text for Eikon: ID:nObiX2wSWa
Further company coverage: SPOLS.OL
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