The bank has reported all transactions but part of the information has been erroneous. The error should have been detected in IT test performed but unfortunately it was not. The matter has not had any negative effects for the bank’s customers.
SEB has enhanced the controls in this area to detect similar errors quicker. The bank has also clarified roles and responsibilities in relation to regulatory reporting. The bank currently puts a lot of effort into the transaction reporting area not least due to the new rules under MiFID II.