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Saxo bank gets notice from Danish FSA for reporting violations

Saxo bank gets notice from Danish FSA for reporting violations

The reports of transactions with tools offered by the bank have had errors since 2018.

The Danish financial markets regulator has ordered Saxo Bank A/S to ensure the submission of complete and accurate information on transaction reporting as the company had many ‘deficiencies’ in previous reports.

“Since the beginning of 2018, Saxo Bank A / S’s reports of transactions have been associated with a number of deficiencies,” the Financial Supervisory Authority, known as FSA, stated in Friday’s announcement.

The regulator detailed that the shortcomings in reporting include errors in the information.

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