The Stockholm Stock Exchange has referred suspected insider trading of shares of insurance group Skandia, linked to a bid by Old Mutual, to the country's two main financial watchdogs.
Neither the Swedish Financial Supervisory Authority (Finansinspektionen) or the National Economic Crimes Bureau (Ekobrottsmyndigheten) will confirm details of the referral, apparently made towards the end of last week, according to local media, but only picked up in the UK when Skandia yesterday issued a release on the matter. According to a clarification from the Stockholm Stock Exchange's head of oversights Anders Ackebo - published by Skandia yesterday - there is no implied action on the part of either Skandia as a company or its management in the referral to authorities. "In its r...
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