Regulatory Alerts2025-09-17
Regulations amending Finansinspektionen's regulations (FFFS 2024:5) regarding clearing and settlement of payments (FFFS 2024:34)
Finansinspektionen's Regulations (FFFS 2024:34) amend FFFS 2024:5 concerning clearing and settlement of payments, re-designating existing sections and inserting new ones to introduce updated requirements for clearing companies. Specifically, clearing companies must now apply certain provisions from FFFS 2014:1 and FFFS 2014:4, and establish a robust approval process for new or materially altered products, services, markets, processes, and IT systems, as well as significant operational or organizational changes. This process mandates risk management, internal rule documentation, verification of regulatory compliance, analysis of risk levels and capital needs, assessment of staffing and competence, and thorough documentation of approval decisions, with these regulations taking effect on January 17, 2025.