AMWatch

Alpcot takes over customers after financial house loses permit

Swedish financial house Nord Fondkommission's authorization was withdrawn last week. Financial platform Alpcot will now take over its customers.

Björn Bringes, CEO of Alpcot | Photo: PR / Alpcot

Last week, the Swedish FSA pulled the plug on Nord Fondkommission after a long investigation the advisory practices, as well as those of its affiliated agents. This was reported on extensively by the Swedish media as well as AMWatch.

The firm has already found a solution for its customers. Swedish financial platform Alpcot, which offers several solutions for savings and investments, will pay Nord SEK 26m (EUR 2.6m) for the accounts, a statement from Alpcot explains.

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