Regulations amending Finansinspektionen’s Regulations regarding alternative investment fund managers

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. Regulations amending Finansinspektionen’s Regulations (FFFS 2013:10) regarding alternative investment fund managers; decided on 10 October 2016. Finansinspektionen prescribes pursuant to section 4, points 3 and 6 and section 5, point 6 of the Alternative Investment Fund Managers Ordinance (2013:587) that
Chapter 13, sections 6 and 11 and Appendices 1–4 of Finansinspektionen’s
regulations (FFFS 2013:10) regarding alternative investment fund managers shall have the following wording.
Chapter 13
Section 6 A prospectus for a non-UCITS fund also applies Chapter 29, section 1,
second paragraph, section 2, first and third paragraphs, and sections 6, 8, 10–14, 16–19 and 23 of Finansinspektionen’s regulations (FFFS 2013:9) regarding Swedish UCITS. The provisions stated there regarding Swedish UCITS applies to non-UCITS funds, and provisions regarding Swedish management companies shall apply to AIF managers.
Section 11 A prospectus that applies to an alternative investment fund that is
marketed to retail investors other than such a fund as referred to in sections 6– 10 shall also apply Chapter 29, section 1, second paragraph, section 2, first and third paragraphs, and sections 6, 8, 10, 14, 19 and 23 of Finansinspektionen’s regulations (FFFS 2013:9) regarding Swedish UCITS, where applicable. The provisions stated there regarding Swedish UCITS applies to alternative investment funds, and provisions regarding Swedish management companies shall apply to AIF managers. _______________ These regulations shall enter into force on 1 November 2016. ERIK THEDÉEN Johan Hemmar FFFS 2016:27 Published on 14 October 2016

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Appendix 1
Ownership assessment – natural person
A natural person who holds a qualifying holding in an AIF manager and is applying for authorisation pursuant to Chapter 3, section 1 of the Alternative Investment Fund Managers Act (2013:561) shall submit the information in this
appendix to Finansinspektionen. Target company in this point refers to the AIF
manager who is applying for authorisation to conduct business. Acquirer refers to the natural owner of the AIF manager applying for authorisation to conduct operations. The information in this appendix shall also be submitted to Finansinspektionen when submitting notification of changes in ownership in accordance with Chapter 3, section 10 of the Alternative Investment Fund Managers Act. As a part of the ownership assessment, Finansinspektionen collects information from e.g. The Swedish Police, the Swedish Companies Registration Office, the Swedish Tax Agency, the Swedish Enforcement Authority and firms that provide credit assessments. Application form Fill in the information in the form below. Some of the information must be submitted as a separate document. Review the Appendix Checklist on the last page of the application. Contact information Whom should Finansinspektionen contact about this application? First name: __________________________________________________ Surname: __________________________________________________ Title: __________________________________________________ Address: __________________________________________________ Telephone: __________________________________________________ Email: __________________________________________________ Fax: __________________________________________________ Name of the acquirer: _________________________________________________ Firm under acquisition (including comp. reg. no.)? _________________________________________ Exceptions from submitting certain information Are you citing Chapter 3, sections 7 or 8 of these regulations as a reason for being excepted from submitting certain information? Yes No

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If yes, please explain.
If you have previously submitted identical information to Finansinspektionen as
part of a separate matter, you can refer to this matter. State the reference number
and the information that was submitted.
1 Information about the acquirer
1.1 Personal information
If you are registered in Sweden

First name: ___________________________________________________ Surname: ___________________________________________________ Personal ID no.: ___________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________ If you are not registered in Sweden* First name: ___________________________________________________ Surname: ___________________________________________________ Personal ID no. or equivalent:__________________________________________ Date of birth: ___________________________________________________ Place of birth: ___________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________ Nationality: __________________________________________________ Passport number: ___________________________________________________ Previous nationalities (if any):_________________________________________ Previous name (if any):_______________________________________________

• If you are not registered in Sweden, append a certified copy of an identity
  document.

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CV
1.2. Append a CV that contains relevant information about your education, work
experience and other assignments.
Financial situation
1.3. State your income for the previous and current calendar year (amounts,
sources), your current assets/liabilities and guarantees or other commitments. Also state if there are other factors that can affect your financial position. Describe the ownership chain
1.4 Append a description or chart of the ownership chain before and after the
acquisition.
Participations shall be stated as a percentage of the issued participations. If the voting rights differ from the participations, also state the number of votes as a percentage of the total number of votes. Also, list owners that in any other way have a significant influence over the undertaking subject to acquisition, the target company. List the nature of the business and the registered office for each undertaking in the ownership chain. Also, indicate which undertakings are under the supervision of Finansinspektionen or an equivalent foreign authority. Describe groups, if applicable
1.5 Append a description or a sketch of the consolidated situation in accordance
with Article 18 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms which will become relevant after the acquisition. The number of participations shall be stated as a percentage of the number of issued participations. If the number of voting rights differs from the number of participations, also state the number of votes as a percentage of the total number of voting rights. Also, list owners who in any other way have significant influence over the target company. Also, indicate which undertakings are under the supervision of Finansinspektionen or an equivalent foreign authority.

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For each undertaking that is part of such a group, state if it is – a financial holding undertaking, – a mixed financial holding undertaking, – under the supervision of Finansinspektionen or an equivalent foreign authority, or – not subject to such financial supervision. Board and senior management assignments
1.6. Name the undertakings in which you are an appointed board member,
managing director, deputy managing director or hold another equivalent senior management position. Name of firm (incl. comp. reg. no.) Type of business Registered office Position on board and role

Ownership involving control
1.7 Name the undertakings in which your ownership signifies control. The
definition of control is set out in section 4.
Name of firm (incl. comp. reg. no.)
Type of business Registered office Holding (per cent)

Close relations holding shares
1.8. Indicate if a close relation owns participations in the target firm, or in another
firm that in turn owns shares in the target firm.
Also, indicate if there are other financial relationships between the above parties. Close relation refers to a spouse, cohabitee, child, parent or other relation with whom you share living accommodations.

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Common interests
1.9 Describe any common interests you may share with the following persons that
can have an impact on the influence in the target firm:

– other shareholders,
– other parties entitled to vote,
– other persons or undertaking that although not shareholders have the ability to exercise similar influence over the target company, or – managing director, deputing managing director or board member or another equivalent senior management position. Common interests that can have an impact on the influence refer to e.g. shareholder agreements or other agreements concerning common ownership. Conflicts of interest
1.10 Identify any conflicts of interest that may arise as a result of the acquisition
and specify how these will be handled.
Reputation of the acquirer
1.11 Have you
a) during the past ten years been convicted by a Swedish or foreign court, or formally been charged as a suspect in an ongoing investigation, for a financial crime in respect of which imprisonment is included in the range of penalties? Yes No b) during the past ten years been sentenced to imprisonment by a Swedish or foreign court for a crime other than that specified in 1.11a? Yes No

FFFS 2016:27 c) during the past five years been a board member or managing director or deputy managing director of a commercial undertaking in which the board of directors was not granted a release from liability? Yes No d) during the past five years been dismissed from employment at a financial institution or as a senior manager or an assignment as a board member or auditor in another operating company? Yes No
1.12. To the best of your knowledge, have you or any undertaking in which you are
or have been a senior executive or a board member or have or have had control a) during the past five years been (or still are/is) party to arbitration proceedings or civil (excluding family-related matters) or management proceedings concerning tax or business? Yes No b) during the past five years been (or still are/is) subject to a debt restructuring, composition or company reconstruction or entered into bankruptcy or an equivalent process in another country? Yes No c) been sanctioned by either a Swedish or foreign supervisory authority? Yes No d) in the past ten years, either in Sweden or in another country, had an application rejected, been excluded from conducting business or in another way had limitations placed on your right to conduct business or a profession that requires a licence, registration or the equivalent? Yes No e) in the past ten years been the subject of a fit and proper assessment by a foreign competent supervisory authority? Yes No
1.13. If you have answered yes to any of the questions under 1.11 and 1.12, please
explain.

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2 Information about the acquisition
2.1 Specify the size of the holding you intend to acquire in the target company. The
number of participations shall be stated as a percentage of the number of issued participations. State the number of participations before and after the acquisition (direct and indirect). If the voting rights differ from the number of participations, also state the number of votes as a percentage of the total number of votes.
2.2. State the expected date of acquisition.
2.3 State the purpose of the acquisition. Do not answer this question if the
information can be concluded from 4.1.1a.
3 Financing the acquisition
3.1 Specify how you intend to finance the acquisition. Describe the background of
all financing items (whether monetary or another type of asset), their value, to whom they belong and in which jurisdiction they are located. Append documentation that supports this information.
3.2 Specify if there is a co-operation with a natural or legal person with regard to
financing the acquisition and describe the conditions of this co-operation.

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4 Scheme of operations and detailed information about the acquisition Provide information about the acquisition in accordance with one of the following options:
– ownership involves control1
(4.1),
– ownership does not signify control, but amounts to 20 per cent or more and when ownership is qualifying but below 20 per cent (4.2). If Finansinspektionen requires additional information to assess the suitability of the acquirer, it can also request information in accordance with section 4.1 below.
4.1 Information when ownership signifies control
An acquirer has control over the target company if the acquirer directly or indirectly obtains the majority of the votes or participations. Furthermore, an acquirer has control over the target company if the acquirer is a shareholder, and – has the right to appoint or dismiss more than half of the members of the firm's board of directors or equivalent management body, or – via agreements with other owners in the target firm has access to more than half of the votes for all shares. Scheme of operations If your ownership signifies control, append a scheme of operations that includes the following:

1. A strategic development plan that includes a description of
   a) the purpose and objective of the acquisition and how these will be achieved, b) planned changes to the business of the target company, e.g. products, customers and any eventual reallocation of assets, c) the planned integration of the target company with the acquirer’s group, if any, and d) information about the acquirer's intent and ability to contribute capital to the target firm if needed.
2. Forecasts for the target firm for the coming three years.
   The following information shall be included in the forecasts:

Cf. Chapter 1, section 4 of the Annual Accounts Act (1995:1554).

FFFS 2016:27 a) balance sheet and profit and loss account, b) important key ratios, and c) capital adequacy calculation.
3. A description of how the acquisition will impact the governance and
organisation of the target company. In particular, specify if the acquisition will affect:
a) the composition of the board of directors and management, b) the organisation’s operational structure (append an organisational diagram), and c) outsourcing.
4.2 Information when ownership does not signify control
If the acquisition does not signify control of the target company, but the holding amounts to 20 per cent or more, the following information about the acquisition shall be appended:

1. if the acquirer intends in the foreseeable future to increase or decrease its
   holding in the target firm, and
2. whether the acquirer intends to actively attempt to exercise influence over the
   undertaking (and specify the circumstances related thereto), Information Submit any additional information to Finansinspektionen below. The undersigned hereby certifies that the information submitted in this application is correct and complete. Date:
   ………………..
   Signature
   ………………..
   Name in print

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Checklist – documents that must be appended to an application for ownership assessment for natural persons The following documents shall be appended to the application:
Appended If not appended, explain
If you are not registered in Sweden: a certified copy of an identity document in accordance with section 1.1

CV as set out in section
1.2.

A description or chart of the entire ownership chain, before and after the acquisition, as set out in section 1.4.

A description of the group (if relevant) as set out in section 1.5.

Documentation that supports the financing of the acquisition as set out in section 3.1.

A business plan and information as set out in sections 4.14.2.

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Appendix 2
Ownership assessment – legal person
A legal person who holds a qualifying holding in an AIF manager and is applying for authorisation pursuant to Chapter 3, section 1 of the Alternative Investment Fund Managers Act (2013:561) shall submit the information in this appendix to Finansinspektionen. Target company refers to the AIF manager who is applying for authorisation to conduct business. Acquirer refers to the legal owner of the AIF manager applying for authorisation to conduct operations. The information in this appendix shall also be submitted to Finansinspektionen when submitting notification of changes in ownership in accordance with Chapter 3, section 10 of the Alternative Investment Fund Managers Act. As a part of the ownership assessment, Finansinspektionen collects information from e.g. The Swedish Police, the Swedish Companies Registration Office, the Swedish Tax Agency, the Swedish Enforcement Authority and firms that provide credit assessments. Application form Fill in the information in the form below. Some of the information must be submitted as a separate document. Review the Appendix Checklist on the last page of the application. Contact information Whom should Finansinspektionen contact about this application? First name: __________________________________________________ Surname: __________________________________________________ Title: __________________________________________________ Address: __________________________________________________ Telephone: __________________________________________________ Email: __________________________________________________ Fax: __________________________________________________ Name of the acquirer: ________________________________________________ Firm under acquisition (including comp. reg. no.)? ___________________________________________________________________ Exceptions from submitting certain information Are you citing Chapter 3, sections 6, 7 or 8 of these regulations as a reason for being excepted from submitting certain information? Yes No

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If yes, please explain.
If the firm has previously submitted identical information to Finansinspektionen as
part of a separate matter, you can refer to that matter below. State the registration
number and the information that was submitted.
1 Information about the acquirer
Information about the undertaking
1.1 Full name of the firm: __________________________________________
Comp. reg. no./registration no.:________________________________________ Head office address: ___________________________________________ Telephone: ___________________________________________
1.2 State the business of the acquirer:
1.3 Append a registration certificate that is at the most two months old.
Financial situation
1.4 Append the most recently adopted annual report.
1.5 If possible, cite credit ratings and credit assessment companies.

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Board of directors and management
1.6. Name board members, alternate board members, the managing director, the
deputy managing director or other equivalent members of senior management. Name Personal ID number or date of birth Position on board and title

1.7 All persons mentioned in 1.6 must fill out and sign Appendix 3c.
Describe the ownership chain
1.8 Append a description or chart of the ownership chain before and after the
acquisition.
Participations shall be stated as a percentage of the issued participations. If the voting rights differ from the participations, also state the number of votes as a percentage of the total number of votes. Also, list owners who in any other way have a significant influence over the undertaking subject to acquisition, the target company. List the nature of the business and the registered office for each undertaking in the ownership chain. Also, indicate which undertakings are under the supervision of Finansinspektionen or an equivalent foreign authority. Describe groups, if applicable
1.9 Append a description or a sketch of the consolidated situation in accordance
with Article 18 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms which will become relevant after the acquisition. The number of participations shall be stated as a percentage of the number of issued participations. If the number of voting rights differs from the number of participations, also state the number of votes as a percentage of the total number of voting rights.

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Also, list owners that in any other way have significant influence over the target company. Also, indicate which undertakings are under the supervision of Finansinspektionen or an equivalent foreign authority. For each undertaking that is part of such a group, state if it is – a financial holding undertaking, – a mixed financial holding undertaking, – under the supervision of Finansinspektionen or an equivalent foreign authority, or – not subject to such financial supervision. Common interests
1.10 Describe any common interests the firm may share with the following persons
who could have an impact on the target firm:
– other shareholders,
– other parties entitled to vote,
– other persons or undertaking that although not shareholders have the ability to exercise similar influence over the target company, or – managing director, deputing managing director or board member or another equivalent senior management position. Common interests that can have an impact refer to e.g. shareholder agreements or other agreements concerning common ownership. Conflicts of interest
1.11 Identify any conflicts of interest that may arise as a result of the acquisition
and specify how these will be handled.
Reputation of the acquirer
1.12 State if the undertaking

FFFS 2016:27 a) during the past five years has been (or still is) party to arbitration proceedings or civil or management proceedings concerning tax or business? Yes No b) in the past five years been (or still is) the object of a composition or company reconstruction or an equivalent process in another country? Yes No c) been sanctioned by either a Swedish or foreign supervisory authority? Yes No d) during the past ten years, either in Sweden or in another country, had an application rejected, been excluded from conducting business or in another way had limitations placed on its right to conduct business that requires a licence, registration or the equivalent? Yes No e) in the past ten years been the subject of a fit and proper assessment by a foreign competent supervisory authority? Yes No
1.13. If you have answered yes to any of the questions under 1.12, please explain:
2 Information about the acquisition
2.1 Specify the size of the holding the firm intends to acquire in the target firm.
The number of participations shall be stated as a percentage of the number of issued participations. State the number of participations before and after the acquisition (direct and indirect). If the voting rights differ from the number of participations, also state the number of votes as a percentage of the total number of votes.
2.2. State the expected date of acquisition.

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2.3 State the purpose of the acquisition. Do not answer this question if the
information can be concluded from 4.1.1a.
3 Financing the acquisition
3.1 Specify how the firm intends to finance the acquisition. Describe the
background of all financing items (whether monetary or another type of asset), their value, to whom they belong and in which jurisdiction they are located. Append documentation that supports this information.
3.2. Specify if there is a co-operation with a natural or legal person with regard to
financing the acquisition and describe the conditions of this co-operation. 4 Scheme of operations and detailed information about the acquisition Provide information about the acquisition according to one of the following options:

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– ownership involves control2
(4.1),
– ownership does not signify control, but totals 20 per cent or more (4.2), or – ownership is qualifying but below 20 per cent (4.3). If Finansinspektionen requires additional information to assess the suitability of the acquirer, the authority can also request information in accordance with section 4.1 or 4.2 below.
4.1 Information when ownership signifies control
An acquirer has control over the target company if the acquirer directly or indirectly obtains the majority of the votes or participations. Furthermore, an acquirer has control over the target company if the acquirer is a shareholder, and – has the right to appoint or dismiss more than half of the members of the firm's board of directors or equivalent management body, or – via agreements with other owners in the target firm has access to more than half of the votes for all shares.

Cf. Chapter 1, section 4 of the Annual Accounts Act (1995:1554).

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Scheme of operations
If the undertaking’s ownership signifies control, append a business plan that includes the following:

1. A strategic development plan that includes a description of
   a) the purpose and objective of the acquisition and how these will be achieved, b) planned changes to the business of the target company, e.g. products, customers and any eventual reallocation of assets, c) planned integration of the target company with the acquiring undertaking’s group, and d) information about the acquirer’s intention and ability to contribute capital to the target company if needed.
2. A capital adequacy calculation at the time of the acquisition or at the time of the
   most recently adopted figures before the acquisition, if the acquisition entails that the target company and the acquirer will become part of a consolidated situation in accordance with Article 18 Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms.
3. A specified list of the large exposures held by the acquirer at the time of
   acquisition if the acquirer is a financial institution.
4. Forecasts for the target company for the coming three years. If the acquisition
   entails that the target company and the acquirer will become part of a consolidated situation in accordance with Article 18 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms, forecasts shall also be submitted for the group. The following information shall be included in the forecasts:
   a) balance sheet and profit and loss account, b) important key ratios, and c) capital adequacy calculation.
5. A description of how the acquisition will impact the governance and
   organisation of the target company. In particular, specify if the acquisition will affect:
   a) the composition of the board of directors and management, b) the organisation’s operational structure (append an organisational diagram), and c) outsourcing.

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4.2 Information when ownership does not signify control, but totals 20 per
cent or more
If the acquisition does not signify control of the target company, but the holding amounts to 20 per cent or more, the following information about the acquisition shall be appended:

1. information about whether the acquirer intends within the foreseeable future to
   increase or reduce its holding in the target company,
2. whether the acquirer intends to actively attempt to exercise influence over the
   undertaking (and specify the circumstances related thereto),
3. a capital adequacy calculation at the time of the acquisition or at the time of the
   most recently adopted figures before the acquisition, if the acquisition entails that the target company and the acquirer will become part of a consolidated situation in accordance with Article 18 Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms, and
4. a specified list of the large exposures held by the acquirer at the time of
   acquisition if the acquirer is a financial institution.
   4.3 Information when ownership is qualifying but below 20 per cent
   If the acquisition entails that the ownership is less than 20 per cent but is still a qualifying holding, the following information about the acquisition shall be appended:
5. whether the acquirer intends in the foreseeable future to increase or decrease its
   holding in the target company, and
6. whether the acquirer intends to actively attempt to exercise influence over the
   undertaking (and specify the circumstances related thereto), Information Submit any additional information to Finansinspektionen below. The undersigned hereby certifies that the information submitted in this application is correct and complete. Date:

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………………..
Signature
………………..
Name in print
Checklist – documents that must be appended to an application for ownership assessment for legal persons The following documents shall be appended to the application:
Appended If not appended, explain
A certificate of registration that is at the most two months old as set out in
section 1.3.

Adopted annual report for the most recent financial year as set out in section 1.4.

Appendix 3 for all persons
as set out in section 1.6.

A description or chart of the entire ownership chain, before and after the acquisition, as set out in
section 1.8.

A description of the group
(if relevant) as set out in
section 1.9.

Documentation that supports the financing of the acquisition as set out in
section 3.1.

A business plan and information as set out in sections 4.1–4.3.

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Appendix 3
Application/notification for senior management in a firm which owns an AIF manager If a legal person shall undergo an ownership assessment, the board members, alternate board members, managing director, deputy managing director or other equivalent members of senior management of the legal person shall submit the information in this appendix to Finansinspektionen. This assessment is part of the ownership assessment that is conducted for a legal person in accordance with
Appendix 2. An assessment shall be conducted if the legal person has a qualifying
holding in an AIF manager applying for authorisation in accordance with Chapter 3, section 1 of the Alternative Investment Fund Manager Act (2013:561). Information in this appendix shall also be submitted to Finansinspektionen

1. when submitting notification of changes in ownership in accordance with
   Chapter 3, section 10 of the Alternative Investment Fund Managers Act, and
2. when submitting notification of changes in senior management in the owner in
   accordance with Chapter 3, section 10 of the Alternative Investment Fund Managers Act. As a part of the ownership assessment, Finansinspektionen collects information from e.g. The Swedish Police, the Swedish Companies Registration Office, the Swedish Tax Agency, the Swedish Enforcement Authority and firms that provide credit assessments. Application form Fill in the information in the form below. Some of the information must be submitted as a separate document. Review the Appendix Checklist on the last page of the application. Contact information Whom should Finansinspektionen contact about this assessment? First name: __________________________________________________ Surname: _________________________________________________ Title: __________________________________________________ Address: __________________________________________________ Telephone: __________________________________________________ Email: __________________________________________________ Fax: __________________________________________________ Financial institution under assessment (including comp. reg. no.)?

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Information about the owner company
In which owner firm are you a board member, alternate board member, managing director or deputy managing director or other equivalent senior executive (including CIN)? _____________________________________ Position on board and title Which position on the board and role within the owner company will be assessed? ___ chairman of the board ___ board member ___ alternate board member ___ managing director ___ deputy managing director ___ other equivalent senior management If you have previously submitted identical information to Finansinspektionen as
part of a separate matter, you can refer to that matter below. State the reference
number and the information that was submitted.
Personal information

1. If you are registered in Sweden
   First name: ___________________________________________________ Surname: ___________________________________________________ Personal ID no.: ___________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________

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If you are not registered in Sweden*
First name: ___________________________________________________ Surname: ___________________________________________________ Personal ID no. or equivalent: __________________________________________ Date of birth: ___________________________________________________ Place of birth: ___________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________ Nationality: _________________________________________________ Passport number: ___________________________________________________ Previous nationalities (if any):_________________________________________ Previous name (if any):______________________________________________

• If you are not registered in Sweden, append a certified copy of an identity
  document.
  CV

2. Append a CV that contains relevant information about your education, work
   experience and other assignments.
   Reputation of management
3. Have you
   a) in the past ten years been convicted by a Swedish or foreign court, or formally been charged as a suspect in an ongoing investigation, for a financial crime in respect of which imprisonment is included in the range of penalties? Yes No b) in the past ten years been sentenced to imprisonment by a Swedish or foreign court for a crime other than that specified in 3a? Yes No c) in the past five years been a board member or managing director or deputy managing director of a commercial undertaking in which the board of directors was not discharged from liability? Yes No d) during the past five years been dismissed from employment at a financial institution or as a senior manager or an assignment as a board member or auditor in another operating company? Yes No

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4. To the best of your knowledge, have you or any firm in which you are or have
been part of senior management or a board member or have or have had control:
a) during the past five years been (or still are/is) party to arbitration proceedings or civil (excluding family-related matters) or management proceedings concerning tax or business? Yes No b) in the past five years been (or still are/is) subject to a debt restructuring, composition or company reconstruction or entered into bankruptcy or an equivalent process in another country? Yes No c) been sanctioned by either a Swedish or foreign supervisory authority? Yes No d) in the past ten years, either in Sweden or in another country, had an application rejected, been excluded from conducting business or in another way had limitations placed on your right to conduct business or a profession that requires a licence, registration or the equivalent? Yes No e) in the past ten years been the subject of a fit and proper assessment by a foreign competent supervisory authority? Yes No
5. If you have answered yes to any of the questions under 3 and 4, please explain.
Information
Submit any additional information to Finansinspektionen below.

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The undersigned hereby certifies that the information submitted in this application is correct and complete. Date:
………………..
Signature
………………..
Name in print
Checklist – documents that must be appended to the application/notification The following documents shall be appended to the application/notification:
Appended If not appended, explain
If you are not registered in
Sweden: a certified copy of an identity document referred to in section 1.

CV as set out in section 2.

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Appendix 4
Application/notification - management assessment A board member, alternate board member, managing director, deputy managing director or other equivalent senior management of an AIF manager shall submit information in accordance with this appendix when the AIF manager applies for authorisation from Finansinspektionen. The management assessment is part of an application for authorisation. The information in this appendix shall also be submitted to Finansinspektionen when submitting notification of changes in management in accordance with
Chapter 3, section 10 of the Alternative Investment Fund Managers Act
(2013:561).
As a part of the suitability assessment, Finansinspektionen collects information from e.g. The Swedish Police, the Swedish Companies Registration Office, the Swedish Tax Agency, the Swedish Enforcement Authority and firms that provide credit assessments. Application form Fill in the information in the form below. Some of the information must be submitted as a separate document. Review the Appendix Checklist on the last page of the management assessment. Contact information Whom should Finansinspektionen contact about this application/notification? First name: __________________________________________________ Surname: __________________________________________________ Title: __________________________________________________ Address: __________________________________________________ Telephone: __________________________________________________ Email: __________________________________________________ Fax: __________________________________________________ The financial undertaking under management assessment (including comp. reg. no.)?

---

Position on board and title
Which position on the board or role will be assessed?
___ chairman of the board
___ board member

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___ alternate board member
___ managing director
___ deputy managing director
___ other equivalent senior management
If you have previously submitted identical information to Finansinspektionen as
part of a separate matter, you can refer to that matter below. State the reference
number and the information that was submitted.
Personal information

1. If you are registered in Sweden
   First name: ___________________________________________________ Surname: ___________________________________________________ Personal ID no.: __________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________ If you are not registered in Sweden* First name: ___________________________________________________ Surname: ___________________________________________________ Personal identity number or equivalent:___________________________________ Date of birth: ___________________________________________________ Place of birth: ___________________________________________________ Address: ___________________________________________________ Telephone: ___________________________________________________ Nationality: __________________________________________________ Passport number: ___________________________________________________ Previous nationalities (if any):_________________________________________ Previous name (if any):_______________________________________________

• If you are not registered in Sweden, append a certified copy of an identity
  document.

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CV
2. Append a CV that contains relevant information about your education, work
experience and other assignments.
Employment, board assignments or management
3. Specify the undertaking in which you are employed, receive consistent
assignments, are an appointed board member or hold another equivalent senior management position. Also, indicate if you hold several roles within the same undertaking:
Name of undertaking
(including corporate identity no.)
Type of business Registered office Position on board and role

Qualifying ownership
4. Specify if you either directly or indirectly have a qualifying holding in the firm
that is under management assessment or if you in any other way have a significant influence:
5. Specify any other undertakings in which you hold a direct or indirect qualifying
holding or in any other way have significant influence:
Name of undertaking
(including corporate identity no.)
Type of business
Registered office
Holding (per cent)

Close relations holding shares
6. Indicate if a close relation owns shares in the undertaking under management
assessment, or in another undertaking that in turn owns shares in the undertaking.

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Also, indicate if there are other financial relationships between the above parties. Close relation refers to a spouse, cohabitee, child, parent or other relation with whom you share living accommodations. Conflicts of interest
7. State your position in the firm that is under management assessment and any
other engagements that you may have that can potentially result in conflicts of interest and describe how these will be handled. Reputation of management
8. Have you
a) during the past ten years been convicted by a Swedish or foreign court, or formally been charged as a suspect in an ongoing investigation, for a financial crime in respect of which imprisonment is included in the range of penalties? Yes No b) during the past ten years been sentenced to imprisonment by a Swedish or foreign court for a crime other than that specified in 8 a? Yes No c) in the past five years been a board member or managing director or deputy managing director of a commercial undertaking in which the board of directors was not discharged from liability? Yes No d) during the past five years been dismissed from employment at a financial institution or as a senior manager or from an assignment as a board member or auditor in another operating company? Yes No

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9. To the best of your knowledge, have you or any firm in which you are or have
been part of senior management or a board member or have or have had control:
a) during the past five years been (or still are/is) party to arbitration proceedings or civil (excluding family-related matters) or management proceedings concerning tax or business? Yes No b) during the past five years been (or still are/is) subject to a debt restructuring, composition or company reconstruction or entered into bankruptcy or an equivalent process in another country? Yes No c) been sanctioned by either a Swedish or foreign supervisory authority? Yes No d) in the past ten years, either in Sweden or in another country, had an application rejected, been excluded from conducting business or in another way had limitations placed on your right to conduct business or a profession that requires a licence, registration or the equivalent? Yes No e) in the past ten years been the subject of a fit and proper assessment by a foreign competent supervisory authority? Yes No
10. If you have answered yes to any of the questions under 8 and 9, please explain.
Information
Submit any additional information to Finansinspektionen below. The undersigned hereby certifies that the information submitted in this application is correct and complete.

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Date:
………………..
Signature
………………..
Name in print

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Checklist – documents that must be appended to the management assessment The following documents shall be appended to the application/notification:
Appended If not appended, explain
If you are not registered in
Sweden: a certified copy of an identity document referred to in section 1.

CV as set out in section 2.