Danske Bank A/S has been preliminarily charged by the Danish State Prosecutor for Serious Economic and International Crime (SØIK) 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. SØIK’s decision to press preliminary charges against Danske Bank follows the criminal complaint filed by the Danish Financial Supervisory Authority to SØIK as communicated by Danske Bank on 10 June 2020.

Philippe Vollot, Chief Compliance Officer, comments:

“We will of course cooperate with SØIK and share relevant knowledge and materials in relation to the case, which we take very seriously. The bank did not have adequate market monitoring in place, and we have therefore since 2019 made significant investments to strengthen our trade surveillance, our systems and controls and have also implemented strengthened pre-trade controls. We have not seen any indication of intentional wrongdoing or any harm to customers or market participants.”

Danske Bank cooperates fully with the authorities and has no further comments to the ongoing investigation.

Danske Bank