On April 16, 2013, Financial Inspection of Sweden withdrew the authorisation of Key Equipment Finance Nordic AB to conduct financing business. Financial Inspection had found that Key Equipment was in violation of several central provisions of the Banking Act: Key Equipment did not have its head office in Sweden, and the Company did not have sufficient governance and control of its operations. These breaches had existed for a long period of time.
Deposits up to 950,000 SEK are covered by Swedish deposit guarantee scheme in KEY EQUIPMENT FINANCE NORDIC AB NORSK AVDELING AV UTENLANDSK FORETAK.
KEY EQUIPMENT FINANCE NORDIC AB NORSK AVDELING AV UTENLANDSK FORETAK protects deposits up to up to 950,000 SEK per depositor through Sweden's deposit guarantee scheme. The scheme applies to deposits in all types of accounts made by private individuals, legal entities. The bank participates in the Swedish National Debt Office (SNDO), making regular contributions into it.
KEY EQUIPMENT FINANCE NORDIC AB NORSK AVDELING AV UTENLANDSK FORETAK operated as a branch of Key Equipment Finance Nordic AB (Sweden).
KEY EQUIPMENT FINANCE NORDIC AB NORSK AVDELING AV UTENLANDSK FORETAK was located in OSLO.
KEY EQUIPMENT FINANCE NORDIC AB NORSK AVDELING AV UTENLANDSK FORETAK was authorized and supervised by the Financial Supervisory Authority of Norway.