Five banks to answer to the Danish FSA following Flexinvest Fri scandal

The five largest banks in Denmark have been obliged to answer the FSA as to whether they comply with current regulation when investing customers' assets. Finans have accessed documents to confirm.

Photo: Olivia Loftlund

Jyske Bank, Nykredit Bank, Nordea, Spar Nord and Sydbank have to provide the Danish FSA with an answer as to whether their investments of customers' assets are in compliance with current regulation, writes Finans that has accessed documents related to the scandal, according to which the banks must answer by August 19.

The demand is a direct consequence of the Flexinvest Fri scandal of Danske Bank investing customers' assets despite expectations of a negative yield return, Finans writes. According to Aalborg University Senior Adviser Lars Krull, the FSA is right in carrying out these investigations.

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