Regulatory Alerts2017-10-03
Regulations amending Finansinspektionen’s regulations and general guidelines regarding the management of operational risks
Finansinspektionen issued regulations amending its operational risk management guidelines to align definitions with existing governance and investment services rules. The amendment specifies that outsourcing agreement provisions must comply with Articles 30–32 of the MiFID 2 delegated regulation and Chapter 10 of the governance guidelines for credit institutions. These changes entered into force on 3 January 2018.
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 and general guidelines (FFFS 2014:4) regarding the management of operational risks; decided on 26 June 2017. Finansinspektionen prescribes pursuant to Chapter 5, section 2, point 5 of the Banking and Financing Business Ordinance (2004:329) that Chapter 1, section 5 and Chapter 2, section 3 of Finansinspektionen’s regulations and general guidelines (FFFS 2014:4) regarding the management of operational risks shall have the following wording. Chapter 1 Section 5 The same definitions are used in these regulations and general guidelines as in Chapter 1, section 3 of Finansinspektionen’s regulations and general guidelines (FFFS 2014:1) regarding governance, risk management and control at credit institutions and Finansinspektionen’s regulations (FFFS 2017:2) regarding investment services and activities, unless otherwise specified. Chapter 2 Section 3 Provisions regarding outsourcing agreements are set out in Articles 30– 32 of the delegated regulation for MiFID 2, and Chapter 10 of Finansinspektionen’s regulations and general guidelines (FFFS 2014:1) regarding governance, risk management and control at credit institutions.
These regulations shall enter into force on 3 January 2018. ERIK THEDÉEN Claudia Bäckström FFFS 2017:9 Published 30 June 2017