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Saxo Bank fined DKr 2m for inadequate transaction reports

Saxo Bank HQ in Denmark.
Photo: Saxo Bank

Martina Lindberg

1 min read
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The bank made over 80 million incomplete or inaccurate reports to the Danish Financial Supervisory Authority.

The District Court in Denmark has convicted and fined Saxo Bank DKr 2m ($309,470) for failing to report transactions in financial instruments to Finanstilsynet, the Danish Financial Supervisory Authority. The failures include having inadequate controls to ensure reports were correct, complete, and sent on time.

The FSA reported the issues to

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