Norway's Wealth Fund Severs Ties with Turkish Finance Firm

Norway's $2.1 trillion sovereign wealth fund has ended its association with a Turkish financial company following a regulatory fine imposed on one of its senior managers for improper trading activities. Bloomberg posted on X that the decision to cut ties was influenced by the manager's involvement in trading practices that violated established norms. The wealth fund, known for its rigorous ethical standards, regularly reviews its investments to ensure compliance with its guidelines. This move underscores the fund's commitment to maintaining integrity in its investment portfolio. The Turkish firm, which has not been named, is reportedly reassessing its internal controls in response to the incident. The wealth fund's decision highlights the importance of ethical conduct in financial markets and the potential consequences of regulatory breaches.