On Wednesday, October 14 the Swedish FSA issued a press statement informing the public of its decision to withdraw all authorization for financial house Nord Fondkommission.
The FSA's motivation was that the securities firm Nord has "severe deficiencies in its advisory activities and other areas". Withdrawing its permit to operate as a securities firm means that Nord now has to cease all its regulated activities. It is no longer allowed to provide advice or sell financial products and it must divest by January 2022.
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