Posts by Isaf-Mgmt

A U.S. judge’s decision to dismiss a securities fraud class action against Danske Bank A/S related to a large-scale money-laundering scandal may be a relief for Denmark’s largest lender, but it does not reduce the risk of a fine from U.S. or European authorities, according to legal experts. Nor is the decision likely to impact…

Denmark’s financial watchdog has reported Danske Bank A/S to police for violating regulations designed to protect investors from market manipulation. Denmark’s biggest bank routinely entered into agreements to buy or sell financial instruments without any change in ownership of the securities, the Financial Supervisory Authority in Copenhagen said on Wednesday. “Danske Bank has clearly had insufficient oversight…

Swedish rival rejected Danske Bank’s “pile of dirty customers”. Linked to drug dealing and arms smuggling Swedish money laundering report shows completely new and bleak details about Danske Bank’s money laundering case. Customers in the Estonian branch could be linked to harsh crime and were so suspicious that not even the competitor Swedbank, which has…

Norway’s Kommunal landspensjonskasse (KLP) has confirmed it has joined one of the many investor lawsuits now underway to seek compensation from Denmark’s biggest bank after a huge money-laundering scandal halved the value of its shares in two years. KLP is one of 63 plaintiffs in a writ submitted on 27 December 2019 in the Copenhagen…

A group of international investors managing trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The writ, which was filed on Friday in the District Court of Copenhagen by law firm Nemeth Sigetty Advokatpartnerselskab,…

COPENHAGEN — About 60 investors have sued Danske Bank for 1.5 billion crowns (£171.46 million) over alleged money laundering, their lawyers said on Friday, the third such case to hit Denmark’s biggest lender. Danske Bank said it would defend itself against the lawsuit and that it had no information about the timing of the case.…

COPENHAGEN (Reuters) – Danish prosecutors have charged 10 former Danske Bank managers over their suspected involvement in one of the world’s biggest money laundering scandals, newspaper Berlingske reported on Wednesday, citing unidentified sources. The charges relate to a case involving some 200 billion euros ($224 billion) of suspicious transactions that passed through Danske Bank’s Estonian…

Danske Bank A/S has built up enough extra capital to commit to dividends and, at the end of this year, will look into the option of resuming share buybacks. Christian Baltzer, who started as chief financial officer at Denmark’s biggest bank in October, pointed to capital buffers that exceed both regulatory requirements and the bank’s own…