FI withdraws NGM's licence
Finansinspektionen is withdrawing NGM's permit to conduct exchange operations with immediate effect. Trading can continue in
all financial instruments during a winding-up period of six months.
NGM has obstructed FI's supervision of the operations in several ways. Major owners, board members and the CEO have all been i
nvolved. Furthermore, the company has not been able to maintain a functioning and independent market surveillance. It has given
special treatment to its own parent company, which is detrimental to the confidence in the securities market. Through its actions,
NGM has squandered FI's trust and confidence to operate an exchange.
NGM has six months to terminate its operations both as an exchange and MTF. Trading can continue in all financial instruments in
the meantime. During the winding-up period, the companies at NGM Equity shall be considered as listed companies until an alternative
solution has been found.
FI has decided to stop trading in shares in NGM Holding in order to provide the market with time to gather information on the
FI has also decided that Bo Lundevall, personally or through Investment Stångsundet and Contact Marketing, is no longer allowed
to exercise a significant influence over NGM Holding.
NGM offers listing and equity trading on the NGM Equity list of 47 companies and derivative trading on the Nordic Derivatives
Exchange. NGM Equity has 29 members who trade on the exchange.
NGM also operates Nordic MTF Stockholm and Nordic MTF Oslo which has 33 companies that are unregulated lists for companies that
are not listed on a stock exchange.
NGM is wholly owned by NGM Holding which is listed on NGM Equity. NGM Holding has just over 6,000 shareholders.
NGM has approximately 25 employees and in 2007 had a net turnover of SEK 45 million.