Danish Regulator Reports Danske To Police Over Charges
Law360, London (September 2, 2019, 1:29 PM BST) -- Denmark’s financial regulator has reported Danske Bank to the police over allegations that the lender misled retail investors in what it has called a "very serious breach.”
Danske Bank A/S, which is already facing numerous criminal and regulatory investigations for its role in a massive money-laundering scandal in Estonia, is accused of keeping customers of its Flexinvest Fri investment product in the dark, the Danish Financial Supervisory Authority said Friday.
The regulator said Danske failed to inform customers that it expected the product to perform poorly and continued to sell it to new customers after raising fees associated with it in 2017....
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