Scandinavia’s biggest lender, Nordea Bank AB, has been summoned by the Swedish regulator to answer questions on assistance it allegedly provided to wealthy clients to help them evade taxes.
The allegations, which surfaced as part of a report based on documents leaked from a Panama law firm that creates shell companies, have been rejected by Nordea. The bank said it “follows all rules and regulations related to these issues,” in a statement on its website. “Our tax advice policy and ethical standards are clear; we shall not encourage or facilitate tax schemes of our customers that are regarded as tax evasion. We help our customers to pay the tax they should.”
The Swedish Financial Supervisory Authority will meet with Nordea’s management on Tuesday following the report by the International Consortium of Investigative Journalists. Christer Furustedt, head of the FSA’s supervision unit for large banks, told reporters in Stockholm that the regulator is taking the Panama report “seriously.”
The full original article can be found at bloomberg.com