March 8, 2017 / 9:00 AM / 8 months ago

Nordea says fined 1 mln euros by Finnish FSA

STOCKHOLM, March 8 (Reuters) - Nordic banking group Nordea said on Wednesday it had been issued with a warning and a one million euro fine by Finland’s watchdog for deficiencies in investment advice.

The FSA’s audit showed, for example, deficiencies in the recording of customer meetings and customer information in Nordea’s systems in a few cases, the bank said.

“In our view, the Financial Supervisory Authority has not sufficiently taken into consideration the improvements to investment advice already made and in progress at Nordea, or the fact that the deficiencies were not wilful,” Nordea said in a statement.

It said there were no cases where the advice given was not in the best interests of the customer.

Reporting by Stockholm Newsroom; Editing by Daniel Dickson

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