On 13 June 2025, SWE Courts announced Administrative Court upheld SWE FI decision to issue reprimand to Nordnet Bank AB, as well as imposition of SEK 100mn penalty.

• It found Nordnet's intraday shorting service has not met regulatory requirements.
• Nordnet has shortcomings in internal guidelines and procedures, risk management and risk assessment, and in its care for its customers is deficient.
• Offered certain active and well-capitalized customers service for intraday short selling.
• Bank did not check there were enough shares available before allowing customers to short shares, led to risk of short selling without coverage/naked short selling (banned).
• One large-scale naked short selling took place involving approximately 430,000 shares.
• Nordnet already noticed shortcomings in procedures in 2018 but continued to offer the service to its customers and the actions mean it failed to care for its own customers
• Customers risked committing rules' violations themselves by using a deficient service.