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2019-02-21

Regulations amending Finansinspektionen’s regulations regarding measures against money laundering and financing of terrorism

Finansinspektionen issued regulations amending its previous rules on anti-money laundering and terrorist financing prevention to restructure Chapter 4 and update Chapter 3. The amendments require undertakings to maintain specific procedures for customer due diligence, ongoing business relationship follow-up, document preservation, and internal review obligations. Additionally, the rules mandate training programs, employee protection measures, and internal control guidelines tailored to the undertaking's risk assessment and operations.

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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. 1 Regulations amending Finansinspektionen’s regulations and general guidelines (FFFS 2009:1) regarding measures against money laundering and financing of terrorism; decided on 17 July 2015. Finansinspektionen prescribes pursuant to section 18 of the Money Laundering and Terrorist Financing (Prevention) Ordinance (2009:92) in part that Chapter 4, sections 14–17 shall be repealed, in part that the heading immediately preceding Chapter 4, section 14 shall be removed, in part that current Chapter 4, sections 18–20 shall be designated sections 14–16, and in part that Chapter 3, section 2 shall have the following wording. Chapter 3 Section 2 An undertaking shall maintain the following procedures, etc.:

  1. procedures for: – basic customer due diligence measures according to Chapter 2, section 3 of the Money Laundering and Terrorist Financing (Prevention) Act, – exemptions from basic customer due diligence measures according to Chapter 2, section 5 of the Money Laundering and Terrorist Financing (Prevention) Act, and – more extensive measures to attain basic customer due diligence measures according to Chapter 2, section 6 of the Money Laundering and Terrorist Financing (Prevention) Act,
  2. systems or procedures for ongoing follow-up of business relationships in accordance with Chapter 2, section 10 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 4, sections 14 and 15 of these regulations,
  3. procedures for preserving documents submitted or measures taken to achieve customer due diligence in accordance with Chapter 2, section 13 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 4, section 16 of these regulations,
  4. systems or procedures for the review obligation in accordance with Chapter 3, section 1 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 5, section 1 of these regulations,
  5. procedures for the obligation to provide information to the Swedish National Police Board in accordance with Chapter 3, section 1 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 5, section 2 of these regulations,
  6. training programmes in accordance with Chapter 5, section 1 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 7, section 1 of these regulations, FFFS 2015:6 Published 24 July 2015

FFFS 2015:6 2 7. procedures to protect employees from threats or hostile measures pursuant to Chapter 5, section 1 of the Money Laundering and Terrorist Financing (Prevention) Act and Chapter 7, section 2 of these regulations, and 8. guidelines for internal control, compliance and internal information pursuant to Chapter 8 of these regulations. The undertaking’s procedures, etc. shall be based on its operations and risk assessment.

These regulations shall enter into force on 1 August 2015. ÅSA LARSON Puck Rogeman

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