Nordea Managing Director Faces Insider Dealing Prosecution (1)

A Swedish prosecutor has charged a managing director within Nordea Bank Abp’s leveraged finance unit with suspicion of severe insider trading.

“The criminal activity can be considered as severe as it has taken place systematically over several years, and due to the special position of the bank employee,” Pontus Hamilton, a prosecutor at the Swedish Economic Crime Authority, said in a statement.

The long-time Nordea employee at the bank’s Stockholm office was arrested on Feb. 11 following allegations he had leaked information obtained through his work to a friend. That person’s family then traded on the information, it is ...