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2011-10-04

Regulations amending Finansinspektionen’s regulations and general guidelines regarding financial advice to consumers

Finansinspektionen issued regulations amending its previous guidelines on financial advice to consumers to ensure adaptation to the size and scope of advising activities. These rules apply to supervised undertakings providing financial advice, while explicitly excluding Swedish management companies, insurance intermediaries, and securities institutions. The amended regulations entered into force on 1 November 2007.

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Finansinspektionen’s Regulatory Code Publisher: Finansinspektionen, Sweden, www.fi.se ISSN 1102-7460 This translation is furnished for information purposes only and is not itself a legal document. FFFS 2007:20 Published on 19 July 2007 Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2004:4) regarding financial advice to consumers; decided on 6 July 2007. Finansinspektionen prescribes pursuant to the Financial Advice to Consumers Ordinance (2003:17) that Section 2 These regulations and general guidelines shall be applied by undertakings under the supervision of Finansinspektionen and who provide such financial advice as referred to in the Financial Advice to Consumers Act (SFS 2003:862). However, these regulations and general guidelines do not apply to financial advice provided by

  1. Swedish management companies pursuant to Chapter 7, section 1, first paragraph, point 3 of the Investment Funds Act (2004:46),
  2. insurance intermediaries pursuant to Chapter 5, section 1, first paragraph of the Insurance Mediation Act (2005:405), or
  3. securities institutions and foreign securities institutions pursuant to the Securities Market Act (2007:528). The advising activities of undertakings vary in size and character, and undertakings provide different types of financial advice. These regulations and general guidelines are intended to allow for adaptation on the basis of the size and focus of the individual undertaking as well as the focus, scope and degree of difficulty of the advising activities.

These regulations shall enter into force on 1 November 2007. GENT JANSSON Marcus Hjorth 1

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