Sweden’s financial watchdog is investigating Alecta’s risk management after the pension giant lost $1.92 billion from investments in three recently collapsed US niche banks. The investigation will focus on Alecta’s measurement of investment risks, as well as compliance with internal and external regulations. In April, the largest pension fund provider in Sweden fired its CEO due to the losses. The financial supervisory authority will review Alecta’s risk management and ensure it complies with regulations.
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Article Name
Swedish watchdog probes Alecta after losses at US niche bank
Description
Sweden's financial watchdog is investigating Alecta's risk management after the pension giant lost $1.92 billion from investments in three recently collapsed US niche banks.
Author
Susan Jane
Publisher Name
Reuters
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