Norway watches as the Swedbank saga unfolds
The Norwegian business daily Dagens Näringsliv, reported on Monday on how the Swedbank saga unfolds, discussing with CredAbility founder Louise Brown how the board of directors and top management should take responsibility and action to re-establish its trust and credibility.
Brown argues that a very dangerous consequence may be that investors and the man on the street gradually lose faith in governing authorities if the issue is not properly dealt with. A passive stance and the rejection of independent, competent assessment to address the obvious challenges, sends a clear and very unfortunate signal that the failure to prevent economic crime is acceptable. Today, the extra general meeting today voted against an independent assessment, referring to a plan to conduct a review using internal resources.