The massive penalty imposed by Swedish supervisory authority Finansinspektionen, on Nasdaq Clearing AB in the aftermath of a Norwegian trader’s default in 2018, was correct. This is view of the Stockholm administrative court, where the clearing house had challenged the decision, according to a verdict published Wednesday morning.
The news was picked up by Swedish-language legal news site Dagens Juridik.
We noted the details of Finansinspektionens decision to punish Nasdaq Clearing as it was issued in January 2021. The fine of 300 million kronor corresponds to about €30 million by today’s exchange rate.