Sweden Seeks to Crush Financial Crime with Increased Notifications and Analysis

The Swedish Financial Supervisory Authority, Finansinspektionen (FI), is taking a tough stance against financial crime in the country. To combat insider trading, market manipulation, and unlawful disclosure of insider information, FI is increasing its monitoring of market activity and analyzing reports of suspected financial crimes.

Obligations under Market Abuse Regulation (MAR)

According to MAR, exchanges, trading venues, and persons professionally executing transactions are required to report any observed trade orders or transactions that may be related to these types of financial crimes. This includes:

• Suspected insider crime
• Suspected improper market influence
• Suspected unlawful disclosure of insider information

Recent Statistics

In its latest update, FI reported a significant increase in suspected financial crimes:

• 138 suspected insider crime cases in the first four months of this year (compared to 420 last year)
• 48 suspected improper market influence cases this year (compared to 149 last year)

If FI determines that an infringement has occurred, it may issue an administrative fine or turn over the case to the prosecutors at the Swedish Economic Crime Authority.

Investigations and Enforcement

FI conducts its own investigations into trading on the securities market. To protect the integrity of its investigations, FI maintains confidentiality throughout the preliminary stages of criminal cases. This ensures that evidence is not compromised or destroyed, allowing investigators to gather all necessary information before making any public announcements.

Statistics on Notifications Received by FI

Here are the number of notifications received by FI regarding suspected market abuse:

*Through April 2024.