Alecta Cleared by Swedish FSA After Probe on Failed US Banks

Alecta AB has been cleared of wrongdoing over its losses tied to three failed US regional banks, after Sweden’s Financial Supervisory Authority found no breaches in how the pension fund measured or valued risks in its listed-equities portfolio.

The watchdog had been examining whether the losses in Silicon Valley Bank, First Republic Bank and Signature Bank warranted sanctions. It announced Friday in a statement that the probe is now closed.