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Aker Solutions accused of insider trading

The Norwegian Financial Supervisory Authority has reported major offshore supplier Aker Solutions to the country's police authority for financial crimes.

Aker ASA Handel, part of Norwegian offshore supplier Aker Solutions, has - along with its parent company - been reported by the Financial Supervisory Authority (FSA) for insider trading, according to several Norwegian news outlets, and the company confirms this fact in a press release.

In short, Aker ASA Handel is suspected of having possessed insider knowledge about Aker Solutions during the fall of last year, pertaining to a so-called total return swap agreement, where the trading company acquired 1.5 million shares in Aker Solutions. The company then subsequently made a profit on these shares as the Aker Solutions share increased.

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