The Nordic nations’ largest financial firm, Nordea Bank , is alleged to have handled $175m in suspicious transactions, according to a submission to Swedish and Norwegian authorities filed this week by the hedge-fund manager and human rights activist Bill Browder. The news broke after the Stockholm-listed shares had ended their trading day at 89.3 Swedish kroner (US$10), so investors will have to wait to see any effects on the $40bn stock market valuation of Nordea. In July, Browder’s Hermitage Capital Management asked Danish authorities to investigate money flows through that nation’s biggest institution, Danske Bank.