GeneralMedium•13 November 2026•
1 min read
NBIM and AP7 Reach $224.5M Settlement with KPMG Over SVB Collapse
Key Facts
1Norges Bank Investment Management (NBIM) and AP7 have reached a $224.5 million settlement with KPMG regarding Silicon Valley Bank (SVB).
Norges Bank Investment Management (NBIM) and the Swedish pension fund AP7 have reached a $224.5 million settlement with KPMG. Markets Group reported that the agreement addresses legal claims regarding KPMG's role as the auditor for Silicon Valley Bank (SVB) prior to its collapse in 2023.
The settlement aims to resolve disputes raised by the major sovereign and pension funds concerning KPMG's oversight responsibilities. This recovery follows the failure of SVB, as institutional investors continue to pursue legal avenues against auditing firms to mitigate losses incurred during the bank's downfall.