A war of words has erupted between the chairman of D Carnegie & Co and the Swedish financial regulator, which seized control of the Swedish bank last month, with chairman Anders Fällman today confirming intent to sue the National Debt Office.

Anders Fällman, chairman of D Carnegie & Co, the holding company that remains following the Swedish government's seizure of Carnegie's investment bank and pension broker Max Matthiessen, said today he believes the regulator unlawfully took control of the bank.