Norwegian FSA ready to probe Nasdaq Oslo collapse

The Norwegian financial supervisory authority has opened an probe into Nasdaq Oslo concerning energy trader Einar Aas' recent market debacle, and the FSA will present the results of its inspection before the end of the year, writes Norwegian finance minister Siv Jensen.

Photo: Ritzau Scanpix/Hakon Mosveld Larsen

Before the end of the year, the Norwegian financial supervisory authority (FSA) will present the results of its probe into the case of Einar Aas' energy market blunder, which drained the majority of Nasdaq Commodities' collateral fund, sending the former tycoon onto the verge of personal bankruptcy, reports Norwegian media in reference to a response to the national parliament from finance minister Siv Jensen.

The FSA has opened an inspection case into Nasdaq Oslo aimed at the exchange's risk management and internal control, accuracy of member information, management of possible conflicts of interest as well as the securing of a well-ordered and confidence-instilling trading environment.

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