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2017-09-28

Regulations amending Finansinspektionen’s regulations regarding remuneration systems in credit institutions and securities companies

Finansinspektionen issued regulations amending its previous rules on remuneration systems to exclude Swedish fund management companies authorized to manage discretionary portfolios. The revised text specifies that the regulations now apply exclusively to joint stock banks, savings banks, members’ banks, credit market companies, credit market associations, and securities companies. These amendments entered into force on 1 November 2016.

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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 (FFFS 2011:1) regarding remuneration systems in credit institutions, investment firms and fund management companies licensed to conduct discretionary portfolio management; decided on 10 October 2016. Finansinspektionen prescribes1 pursuant to section 18, point 10 of the Investment Funds Ordinance (2013:588) that the title of Finansinspektionen’s regulations (FFFS 2011:1) regarding remuneration systems in credit institutions, investment firms and fund management companies licensed to conduct discretionary portfolio management and Chapter 1, section 2 of the regulations shall have the following wording. Finansinspektionen's regulations regarding remuneration systems in credit institutions and securities companies; Chapter 1 Section 22 These regulations shall apply to

  1. joint stock banks,
  2. savings banks,
  3. members’ banks,
  4. credit market companies,
  5. credit market associations, and
  6. securities companies.

These regulations shall enter into force on 01 November 2016. ERIK THEDÉEN Johan Hemmar

1 Cf. Directive 2009/65/EC of the European Parliament and of the council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) in the wording pursuant to Directive 2014/91/EU of the European Parliament and of the Council. 2 The amendment entails that Swedish fund management companies authorised to manage discretionary portfolios, according to Chapter 1, section 4 of the Swedish UCITS Act (2004:46), have been removed. FFFS 2016:25 Published on 14 October 2016

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