Swedbank Says SEC Has Closed Six-Year Probe Without Enforcement

Swedbank AB said the Securities and Exchange Commission has closed an investigation into the Swedish lender without enforcement, ending one of three probes in the US over possible money-laundering violations.

“We are placing another investigation of historical shortcomings behind us,” Swedbank Deputy Chief Executive Officer Tomas Hedberg said in a statement Saturday.

The SEC probe began in 2019 and concerned past failures related to anti-money laundering and counter-terrorism financing, as well as shortcomings in information disclosure at Swedbank’s Baltic branches.

Sweden’s second-largest bank by market value remains under investigation by the US Department of Justice and the New York Department ...