The Administrative Court confirms the Financial Supervisory Authority's decision to impose a fine of 100 million kronor on Nordnet.
It was in May 2022 that the Financial Supervisory Authority decided to impose a fine of 100 million kronor on the online broker after so-called "naked short selling" of shares.
Nordnet appealed the decision at the time, but the appeal was according to the Administrative Court submitted too late. It has since gone through the Administrative Court of Appeal to now land at the Administrative Court.
Facts: Blankning
TT
Blankning: One sells a share that one does not own in order to make money on the share even if the share price falls. The seller has instead borrowed, or ensured that the share can be borrowed, before the blanking is carried out.
Naked blanking: The seller does not have the share at the time of blanking or have ensured that the share can be borrowed, which is prohibited. Source: Administrative Court
