NFU News

Swedish HQ bank’s failure affects whole sector

The failure of Swedish bank HQ Bank affects the whole of the financial sector in the form of weakended confidence and bad reputation for the financial industry, says Lillemor Smedenvall, President of the Financial Sector Union of Sweden and responsible for EU/UNI issues in the NFU Steering Committee.

– It is sad that it had to happen. Those employees who see their employment security threatened are hit hard, but all employees in the financial sector may now have to defend an industry which is sound and well-functioning, not least in an international perspective,Lillemor Smedenvall says.

– It is crucial that the supervisory authority is given adequate funds and means to be able to continuously carry out correct assessments of those companies who are under its auspicies, Lillemor concludes.
For more information, please contact the Financial Sector Union of Sweden: +46 704 130 320.
Read more about HQ Bank

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