Regulatory Alerts2022-10-12
Regulations amending Finansinspektionen’s regulations governing operations on trading venues
Finansinspektionen issued regulations amending its rules on trading venues to update notification requirements for stock exchanges and clearing organisations. The amendments mandate that these entities inform the regulator of new appointments to key management positions, such as board members and managing directors, and notify any decrease in the number of board members. These changes, which also involve removing specific paragraphs from previous provisions, entered into force on 8 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 2007:17) governing operations on trading venues; decided 22 February 2022. Finansinspektionen prescribes pursuant to Chapter 6, section 1 of the Securities Market Ordinance (2007:572) that Chapter 1, section 1 and Chapter 2, sections 1 and 9 of Finansinspektionen’s regulations (FFFS 2007:17) shall have the following wording. Chapter 1 Section 1 These regulations apply to – exchanges, – clearing organisations, – securities institutions, – companies whose transferable securities are admitted to trading on a regulated market or trading facility and to issuers of such transferable securities, and – parties preparing prospectuses or other documents in accordance with Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC. Chapter 2 Section 11 This chapter contains provisions governing the information a stock exchange, a clearing organisation and their owners shall submit to Finansinspektionen in conjunction with an ownership or a management assessment pursuant to the Securities Market Act (2007:528). Section 92 A stock exchange and a clearing organisation shall inform Finansinspektionen when new individuals are appointed to the following positions at the undertaking: – chairman of the board, – board members, – alternate board members, and – managing director or deputy managing director, i.e. a person serving in the managing director’s stead. 1 The change entails that the second paragraph has been removed. 2 The change entails in part that the fourth paragraph has been removed. FFFS 2022:2 Published on 28 February 2022
FFFS 2022:2 2 Stock exchanges and clearing organisations shall also notify Finansinspektionen when the number of board members is decreased. When a new chair of the board, board member, alternate board member, managing director or deputy managing director is appointed at a stock exchange or a clearing organisation, the undertaking shall append the information set forth in Appendix 2.
These regulations shall enter into force on 08 March 2022. ERIK THEDÉEN Peter Albrecht