Swedish Financial Supervisory Authority warns that Handelstorget and Skandova are offering investment services without authorisation

The Swedish Financial Supervisory Authority has issued a public warning about Handelstorget and Skandova, stating that they are targeting Swedish investors with offers to trade in securities despite lacking the necessary authorisation to provide investment services in Sweden. Neither entity is authorised to conduct securities business or other financial activities in Sweden and they are not under the authority’s supervision. No notification of cross-border activity has been submitted to the authority from any other European Economic Area country for either Handelstorget or Skandova, and the authority’s inquiries indicate that neither firm exists. The authority directed consumers to consult its warning list and to verify firms’ authorisation status via its company register before allowing anyone to handle their money.