Gernandt & Danielsson has represented Carnegie Investment Bank against the Swedish Financial Supervisory Authority in a case concerning the Market Abuse Regulation (MAR)

Gernandt & Danielsson has represented Carnegie Investment Bank in a case against the Swedish Financial Supervisory Authority (Finansinspektionen) concerning the interpretation and application of the Market Abuse Regulation (MAR). The case is pending in the Supreme Court, which has requested a preliminary ruling by the European Court of Justice.

The case concerns whether information about an individual being listed in an insider register can in itself constitute insider information. This raises questions about, inter alia, how banks are able to act when pledged shares need to be sold to reduce credit exposure – and if incorrect or incomplete insider information can create particular problems or advantages in the financial market.

Gernandt & Danielsson’s team consists of partners Niclas Rockborn and Daniel Waerme, together with senior associate Rickard Tinglöf and associate Fredrik Lagergren. Carnegie Investment Bank was represented by Niclas Rockborn and Daniel Waerme at the oral hearing before the European Court of Justice.

We are proud to contribute with our expertise in this important matter for the financial market.