The resolutions mark the closure of the investigations into the bank by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and the Danish Serious Crime Unit. The clarity this provides for our colleagues, our customers and our investors is of course significant. We have made considerable investments in building systems and upgraded our compliance, risk and control capabilities, and we are actively nurturing a culture where employees can speak up if they see actions that may not meet our standards. This transformative change, both at an operational and a cultural level has moved us to a much stronger position today, and will strengthen our defenses against these deeply regrettable failures, and enable us to deliver on our longer term strategic objectives with expert advisory, strong digital solutions and sustainable finance at our core.
The plea agreement reached with DoJ has been approved by the U.S. District Court. Sentencing will take place on a later date.