EBM drops investigation

The Swedish Economic Crime Authority (EBM) has dropped its investigation into suspected manipulation of Fingerprint Cards’ share price by five US hedge funds in 2016, saying that trading in the share was not unusual at the time.

However, prosecutor JanTibbling did say that a number of transactions named in the report submitted to EBM were subject to scrutiny in other investigations concerning Fingerprint Cards.

Authority will not appeal ruling

The Swedish Economic Crime Authority (Ekobrottsmyndigheten, EBM) says it will not appeal Stockholm City Court’s decision to acquit five bankers accused of involvement in the collapse of HQ Bank.

EBM has suffered a loss of prestige as a result of the court ruling, suggests DI, reporting that less than 50 per cent of senior management in Sweden has any confidence in the authority