SEB's profit destroyed by FSA fine – AUM down by SEK 132bn since turn of the year

After a massive dive in March, SEB's AUM improved in the second quarter. Net operating profit at the division SEB IM & Group Function rebounded to a positive territory, only to be eradicated by an anti-money laundering fine from the Swedish FSA. (corrected)

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

(Headline corrected on July 15, 17.40 CET: In an earlier version of the article, the headline said: SEB IM's profit destroyed by FSA fine – AUM down ..." Following the publication of this article, SEB has drawn attention to the fact that the FSA fine is not linked to SEB IM.  In the half-year report, the fine appears in the Investment Management & Group Funktions division, but only Group Funktions is associated with the fine, SEB informs AMWatch)

Last month's SEK 1bn  (EUR 96.5m) fine from the Swedish FSA destroys an otherwise more robust second quarter at SEB Investment Management.

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