Published 18 June 2021 at 13.15
Domestic. Before the imminent monetary policy decision to buy bonds in Swedish companies, the Riksbank's own staff bought shares in the companies that benefited from the decisions. Now the employees risk “conversations” and “training initiatives” about ethics, the Riksbank writes in a press release.
Like the article p & aring; Facebook
“In connection with a routine inspection of employees' securities transactions, it has been established that a few employees of the Riksbank have made transactions that are not in line with the Riksbank's ethical rules”, the authority writes in the press release.
According to ch. § 1, first paragraph of the Act on Penalties for Market Abuse in the Securities Market, the act also constitutes an insider offense and can result in a maximum of two years' imprisonment. However, Swedish prosecutors often refrain from traditionally prosecuting people in banks and authorities when they commit crimes, which is why it is uncertain whether anyone will be prosecuted.
The Riksbank does not write how much the perpetrators have earned from the deals. The authority points out, however, that this is a “recurring saving and the employees themselves have reported the transactions on an ongoing basis in accordance with the internal guidelines that exist”.
The current events have concerned share transactions close to impending monetary policy decisions and share transactions buys corporate bonds for monetary policy purposes, according to the authority. The rules to increase clarity have also begun and will be completed in 2021 “, the Riksbank writes in the press release. >