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2026-02-18 17:37:22
[Swedish Financial Supervisory Authority Fines SBB 80 Million Kroner for Accounting Violations] ⑴ The Swedish Financial Supervisory Authority (SFA) announced on Wednesday that it has fined real estate group SBB 80 million Swedish kronor (approximately US$8.9 million) for violating accounting rules regarding the preparation of consolidated financial statements. ⑵ The regulator pointed out that SBB failed to report certain properties at fair value in its 2021 financial report and made errors in the treatment of two acquisition transactions. Due to these accounting errors, the group's reported profits for that year were overstated by 3.6 billion Swedish kronor, and its financial disclosures were inaccurate. ⑶ SBB responded in a statement that it is evaluating the decision and considering whether to appeal. The company is one of many real estate groups in Europe forced to restructure and reduce debt amid high interest rates and economic headwinds, facing particular pressure in the Swedish market. ⑷ The head of the regulator emphasized that consolidated accounts must provide a fair picture, otherwise it could jeopardize confidence in the stock and bond markets. Following this news, SBB's share price fell 2.4% on Wednesday.
