Nordnet appeals the sanction decision from the Swedish Financial Supervisory authority
The Swedish Financial Supervisory Authority (SFSA) decided on 25 May to issue a remark and an administrative fine of SEK 100 million to Nordnet. The background to the decision is that Nordnet, according to the SFSA, has not had a satisfactory level of internal governance and control in relation to EU’s short-selling regulation. Nordnet has now appealed the decision.In the middle of March 2021, the SFSA started an investigation about Nordnet’s internal routines and processes regarding intraday short-selling. The background is the intraday short-selling transactions carried out by customers