EU Shuts Probe Of Regulators' Handling Of Danske Bank Case

Law360, London (April 17, 2019, 4:13 PM BST) -- Europe’s top banking watchdog said Wednesday it has closed its investigation into whether Denmark and Estonia’s financial regulators failed in their obligations to properly supervise Danske Bank in relation to a money laundering scandal after finding they did not breach European Union law.

The European Banking Authority opened its probe into the Estonian Financial Services Authority and the Danish Financial Services Authority in February:  A marquee investigation into possible regulatory failures that allowed Danske Bank A/S to process some €200 billion ($226 billion) in suspicious transactions through its Estonian branch for more than a decade without facing scrutiny.

However, on Wednesday,...

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