Regulatory Alerts2023-11-01
Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2010:3) regarding payment institutions and registered payment service providers (FFFS 2023:14)
Finansinspektionen amends its regulations regarding payment institutions and registered payment service providers to align specific provisions with FFFS 2023:12. The changes require that applications for acquiring or increasing qualifying holdings in payment institutions be submitted according to the new ownership and management assessment rules. Additionally, payment institutions must immediately notify the regulator of changes to their board of directors or senior management, including newly appointed heads of payment service operations, under the same regulatory framework.
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 and general guidelines (FFFS 2010:3) regarding payment institutions and registered payment service providers; decided 20 June 2023. Finansinspektionen prescribes pursuant to section 5, points 17 and 19 of the Payment Services Ordinance (2010:1008) that Chapter 6, sections 2 and 4 of Finansinspektionen’s regulations (FFFS 2010:3) regarding payment institutions and registered payment service providers shall have the following wording. Chapter 6 Section 2 An application for permission to acquire or increase a qualifying holding in a payment institution shall be submitted in accordance with Finansinspektionen's regulations (FFFS 2023:12) governing ownership, ownership management and management assessment in certain financial undertakings. Section 4 A payment institution shall immediately notify Finansinspektionen about a change to its board of directors or senior management in accordance with Finansinspektionen's regulations (FFFS 2023:12) governing ownership, ownership management and management assessment in certain financial undertakings. When a new head of the payment service operations or deputy head is appointed, the corresponding information in accordance with the first paragraph shall be submitted for this person.
These regulations shall enter into force on 18 July 2023. DANIEL BARR Fredrik Sandström FFFS 2023:14 Published on 27 June 2023