Reuters
Danske Bank faces preliminary charges related to market abuse
COPENHAGEN (Reuters) -Danske Bank said on Friday it had been charged with violating rules related to market abuse, after a criminal complaint filed by the Danish Financial Supervisory Authority (FSA) a year ago. The FSA had said Danske, which has been embroiled in a separate money-laundering scandal, had misinformed the market by facilitating “wash trades”, in which the same person sells and buys securities, between Aug. 12, 2016 and Feb. 22, 2019. Danske said the preliminary charges were “for two potential violations of the Market Abuse Regulation on the basis of inadequate monitoring of transactions in financial instruments and market manipulation as a result of certain self-matching trades”.
