Economy Nobel Prize-awarding Swedish Academy weighs reforms after controversy Updated : April 14, 2018 10:34 AM IST King Carl XVI Gustaf said this week that he may consider reforming the Swedish Academy, established in 1786 by his forebear Gustav III. The Academy confirmed to Reuters it hired a law firm to conduct an internal investigation whose findings haven't been made public. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.