Regulatory Alerts2024-02-08
Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2011:26) regarding special supervision of financial conglomerates (FFFS 2023:9)
Finansinspektionen issued FFFS 2023:9, amending its regulations and general guidelines (FFFS 2011:26) concerning special supervision of financial conglomerates. The amendments repeal Appendices 1 and 2, re-designate existing Appendices 3 and 4, and revise Chapter 2, Section 11 to mandate annual reporting of risk concentrations and intra-group transactions by December 31. Chapter 3, Section 11 is also updated to require annual reporting of own funds and capital requirements for financial conglomerates by December 31, submitted to Finansinspektionen by March 31 using specified forms.
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 2011:26) regarding special supervision of financial conglomerates; decided on 20 June 2023. Finansinspektionen prescribes pursuant to section 2, point 7 of the Special Supervision of Financial Conglomerates Ordinance (2006:627) in respect of Finansinspektionen’s regulations and general guidelines (FFFS 2011:26) regarding special supervision of financial conglomerates in part that Appendices 1 and 2 shall be repealed, in part that current Appendices 3 and 4 shall be designated Appendix 1 and Appendix 2, in part that Chapter 2, section 1 and Chapter 3, section 11 shall have the following wording. Chapter 2 Section 11 Risk concentrations and intra-group transactions, for which Finansinspektionen pursuant to Chapter 5, section 11 of the Special Supervision of Financial Conglomerates Act (2006:531) has made a decision regarding, shall be reported annually as per 31 December. Chapter 3 Section 11 Information about own funds and capital requirements for financial conglomerates shall be reported on an annual basis as per 31 December. When the deduction and aggregation method or the accounting consolidation method is used, the information shall be reported using the "Own funds and capital requirements for financial conglomerates" form, see Appendix 1. Instructions for the form are set out in Appendix 2. Finansinspektionen shall have received the information no later than 31 March.
These regulations shall enter into force on 5 July 2023. 1 The amendment entails that the second paragraph has been removed. FFFS 2023:9 Published on 27 June 2023
FFFS 2023:9 2 DANIEL BARR Matilda Strömberg