Regulatory Alerts2023-05-23
Regulations amending Finansinspektionen’s regulations regarding insurance distribution
Finansinspektionen issued regulations amending its insurance distribution rules to incorporate additional provisions for PEPP providers and distributors under EU Regulation 2019/1238. The amendment modifies Chapter 1, Section 1 of FFFS 2018:10 to clarify that such entities must also comply with the specific requirements set out in FFFS 2022:20. These changes were decided on 16 December 2022 and entered into force on 1 January 2023.
Finansinspektionen’s Regulatory Code Publisher: Chief Legal Counsel Eric Leijonram, Finansinspektionen, Sweden, www.fi.se ISSN 1102-7460 This translation is furnished solely for information purposes. Only the printed version of the regulation in Swedish applies for the application of the law. 1 Regulations amending Finansinspektionen’s regulations (FFFS 2018:10) regarding insurance distribution; decided 16 December 2022. Finansinspektionen prescribes pursuant to section 2, points 1 and 5 of the Supplemental Provisions for the EU Regulation on a pan-European Personal Pension Product (PEPP) Ordinance (2022:1765) that Chapter 1, section 1 of Finansinspektionen’s regulations (FFFS 2018:10) regarding insurance distribution business shall have the following wording. Chapter 1 Section 1 These regulations apply to natural and legal persons applying for authorisation to conduct business or that conduct business in accordance with the Insurance Distribution Act (2018:1219). For insurance distributors that are PEPP providers or PEPP distributors pursuant to Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP), there are additional provisions set out in Finansinspektionen’s regulations (FFFS 2022:20) regarding a pan-European personal pension product.
These regulations shall enter into force on 01 January 2023. SUSANNA GRUFMAN Maria Garnau FFFS 2022:27 Published on 27 December 2022