The Swedish Financial Supervisory Authority’s investigation into Alecta’s internal control and risk management in asset management has concluded, with the case to be written off.

The authority’s investigation was conducted between the years of 2020 and 2022.

In its decision, the authority wrote that Alecta had taken a number of measures during that period to improve internal control and risk management in asset management.

The investigation did not reveal any remaining deficiencies of any kind other than those which, in a final assessment, are to be judged as minor or excusable.

In such circumstances, there is “no reason to take further action in connection with the investigation” and, therefore, the case has been written off.

Alecta head of asset management, Hans Sterte, commented: "Alecta's operations are based on a large number of regulations as well as on a high level of trust from our customers. It is therefore welcome and useful that the Swedish Financial Supervisory Authority conducts an investigation.

“The fact that the case is now being written off is thanks to the ongoing work that we do together with our central functions, to strengthen our internal control and risk management in asset management.

“We will continue to focus on this work to ensure that we maintain a strong risk culture and regulatory compliance in the business going forward."

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