Economic Crimes Bureau match five former senior people in HQ Bank and HQ for aggravated accounting offenses, aggravated scam or abetting such. Ultimately the goal the HQ Bank reported its own trading options, the one who in 2010 led to the bank lost its license. Followed to the international accounting standard that is applicable laws in Sweden or not?
Still, it’s good to the debt issue before the courts. The international financial market is evolving at a dizzying pace and no other way than constantly testing the legal limits do not exist.
Mats Qviberg is self- symbol of change. When he started doing business in the late-1970s financial market was small, personal and not very transparent. When HQ fell had it had become globalized, robotic and so fast and complex that the 2009, the entire global economy to its knees.
Nowadays implemented an escalating and internationalized struggle between those doing business on the one hand and the politicians and authorities who are trying to control them on the other. The risk capitalists tax business is one example, where the tax has finally been give.
HQ Bank by clapping is another. What is possible in terms of accounting of securities whose price depends on expectations about the future? And how much responsibility can be board members are expected to take, a highly topical issue because the government now is making a reality of the EU’s controversial proposal to members of bank boards should be forced to pay up to € 5 million in fines if they do wrong.
HQ trial comes, how twisty that is, lead to more knowledge about all this. And finally, a judgment, once it becomes final, hopefully mean the end of the HQ history. Those involved need to be able to move on.
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