Regulatory Alerts2022-10-12
Regulations amending Finansinspektionen’s Regulations regarding alternative investment fund managers
Finansinspektionen issued regulations amending its rules for alternative investment fund managers to align with MiFID II standards. The amendment requires AIF managers providing specific investment advice to comply with designated articles of the MiFID II delegated regulation and relevant sections of Finansinspektionen’s investment services rules. These changes entered into force on 08 March 2022.
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 (FFFS 2013:10) regarding alternative investment fund managers; decided on 22 February 2022. Finansinspektionen prescribes pursuant to section 5, point 5 of the Alternative Investment Fund Managers Ordinance (2013:587) that Chapter 10, section 3 of Finansinspektionen’s regulations (FFFS 2013:10) regarding alternative investment fund managers shall have the following wording. Chapter 10 Section 3 An AIF manager that as part of its operations provides advice to customers regarding participations or holdings in alternative investment funds in cases other than that set out in Chapter 3, section 2, second paragraph, point 4 of the Alternative Investment Fund Managers Act (2013:561), when providing such services, shall fulfil the requirements set out in Articles 27, 33, 37, 52, 54 and 55 of the delegated regulation for MiFID II. An AIF manager, when providing such services in accordance with the first paragraph, shall also apply Chapter 4 and Chapter 7, sections 1–5 and 8–21 of Finansinspektionen’s regulations (FFFS 2017:2) regarding investment services and activities.
These regulations shall enter into force on 08 March 2022. ERIK THEDÉEN Peter Albrecht FFFS 2022:4 Published on 28 February 2022