Finance
Nordic Securities lose their license to operate investment services.
the Article is added to your reading list.
the Decision is given deferred effect.
the Decision will therefore not be implemented before klagefristens expired, informs the financial supervisory authority of norway.
the Authority, which has the task to watch that the banks, investment firms and other financial institutions comply with laws and regulations, conducted in December 2015 two-site supervision of Nordic Securities, and has since been in the process of the enterprise.
- Serious and systematic violations
In a letter sent Nordic Securities 5. January concludes the audit:
“Finanstilsynet finds that the conditions referred to in the foregoing, represents as serious and systematic violation of regulations in the securities trading act and associated regulations, that the conditions to revoke the company’s licences to provide investment services are present, cf. the securities trading act. Section 9-4 (1) no. 4. Financial supervisory authority of norway has in this assessment put particular emphasis on the fact that the infringement represents a serious weakening of the trust of market participants in general, and consumers in particular, should be able to have to the investment firms”.
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