Regulatory Alerts2016-09-02
Regulations amending governance, risk management and control rules for credit institutions (FFFS 2016:8)
Finansinspektionen amends its governance, risk management, and control regulations for credit institutions by repealing Chapter 5, section 12 of FFFS 2014:1. The update removes a preceding heading, renumbers sections 13 through 16 to 12 through 15, and repositions the corresponding heading to preserve document structure. These structural revisions to the prudential framework take effect on 1 February 2016 to maintain compliance with European Union banking directives.
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. 1 Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2014:1) regarding governance, risk management and control at credit institutions; decided on 25 January 2016. Finansinspektionen prescribes1 pursuant to Chapter 5, section 2, point 5 of the Banking and Financing Business Ordinance (2004:329) in respect of Finansinspektionen’s regulations and general guidelines (FFFS 2014:1) regarding capital adequacy and large exposures in credit institutions in part that Chapter 5, section 12 shall be repealed, in part that the heading immediately preceding Chapter 5, section 12 shall be removed, in part that current Chapter 5, sections 13–16 shall be designated Chapter 5, sections 12–15, and in part that the heading immediately preceding Chapter 5, section 13 shall be placed immediately before the new Chapter 5, section 12.
These regulations shall enter into force on 1 February 2016. ERIK THEDÉEN Erik Kärrlander
1 Cf. Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (EUT L 176, 27.6.2013, p. 338, Celex 32013L0036). FFFS 2016:8 Published on 29 January 2016