No Probe Into Regulation Of Swedbank, EU Watchdog Says

Law360, London (May 5, 2020, 1:49 PM BST) -- Europe's top banking regulator has ruled out an investigation into whether any of the bloc's financial regulators breached European Union law by failing to properly supervise Swedbank after it was fined 4 billion Swedish kronor ($405,000) over money laundering risks.

Swedbank has been under investigation by Sweden's financial supervisory authority and other regulators since February 2019. (Getty) European Banking Authority Chairman Jose Campa said Monday there was "no substantial prospect" of the watchdog opening a probe into a possible breach of EU law by the Swedish financial regulator or any other authorities responsible for the supervision of the Stockholm-based lender....

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