HELSINKI, March 7 Finland's financial industry
watchdog issued a warning to the Finnish subsidiary of Nordea
, the biggest bank in the Nordic region, for repeated
delays in transmitting bank payments.
The Financial Supervisory Authority said in a statement
Nordea Bank Finland breached the Finnish payment services act
and failed to fix its systems during 2011-2013.
"In many cases, the disruptions involved tens of thousands
of payments," the authority said.
Other Finnish banks had only individual payment delays
during the period and thus did not breach the law, it said.
Finnish law requires that salaries and pensions must show in
customers' accounts during the due date.
The watchdog said Nordea had since partly corrected the
problems and no delays in breach of the law had occurred since
Nordea said in a statement it would make further system
improvements to prevent any delays in the future.
(Reporting By Jussi Rosendahl. Editing by Jane Merriman)