Norwegian watchdog rules against DnB Nor


The complaints board for bank customers in Norway, Bankklagenemnda, has ruled against DnB Nor bank in a case involving the sale of leveraged structured products to a retail investor. The products, which were financed by loans, are alleged to have resulted in losses of around NKr1 billion ($141 million) for investors, according to local bankers. Bankklagenemnda has recommended that DnB Nor should compensate the investor in full.

"The council concluded, by three votes against two, that DnB Nor sold

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