FSA takes control of stock exchange following money laundering claims
But can Danske Bank take control when it faces the press on Wednesday to disclose the findings of its investigation into the activities of its Estonian branch
The Financial Supervisory Authority (FSA) has taken control of the Copenhagen Stock Exchange (CSE) following claims of money laundering. It has removed the executive board, which will no longer be able to exercise power on behalf of the CSE’s shareholders. Instead, decisions will be made by the FSA, which has commented that the issues at hand “have no private solution”. The takeover follows a review that revealed there was insufficient customer knowledge, and that the equity funds’ own system for monitoring complex and unusual transactions was inadequate.