Regulatory Alerts2022-02-23
General guidelines repealing Finansinspektionen’s general guidelines (FFFS 1993:6) regarding the limitation on mutual benefit society's activities in relation to commercial insurance business (FFFS 2020:16)
Finansinspektionen issued these general guidelines to repeal its previous 1993 regulations concerning the limitations on mutual benefit societies engaging in commercial insurance business. The repeal takes effect on 1 November 2020, although existing guidelines continue to apply to societies permitted under the Insurance Business (Implementation) Act until the end of 2020. This regulatory update formally replaces the older framework while allowing for a transitional period for specific entities.
Finansinspektionen’s Regulatory Code Publisher: 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 General guidelines repealing Finansinspektionen’s general guidelines (FFFS 1993:6) regarding the limitation on mutual benefit society's activities in relation to commercial insurance business; decided on 13 October 2020. These general guidelines repeal as of 1 November 2020 Finansinspektionen’s general guidelines (1993:6) regarding the limitation on mutual benefit society’s activities in relation to commercial insurance business. However, older general guidelines apply to mutual benefit societies, which, according to the Insurance Business (Implementation) Act (2010:2044), may continue to conduct their operations until the end of 2020.
ERIK THEDÉEN Nanny Hiort FFFS 2020:16 Published on 19 October 2020