Regulations amending Finansinspektionen’s regulations and general guidelines regarding annual reports at credit institutions and securities companies

Finansinspektionen’s Regulatory Code
Publisher: 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 and general guidelines (FFFS 2008:25) regarding annual reports at credit institutions and securities companies; decided on 15 September 2020. Finansinspektionen prescribes pursuant to section 4, point 1 of the Annual Reports at Credit Institutions, Securities Companies and Insurance Undertakings Ordinance (1995:1600) and section 19b of the Foreign Branch Offices Ordinance (1992:308) that Chapter 1, section 2 and Chapter 5, section 24 of Finansinspektionen’s regulations and general guidelines (FFFS 2008:25) regarding annual reports at credit institutions and securities companies shall have the following wording.
Chapter 1
Section 2 In these regulations and general guidelines, the terms and expressions
shall have the following meaning:

1. Approved international financial reporting standards: international financial
   reporting standards as adopted by the European Commission in accordance with
   Article 3 of Regulation (EC) no. 1606/2002 of the European Parliament and of the
   Council of 19 July 2002 on the Application of International Accounting Standards (the IAS Regulation).
2. Institutions: unless otherwise indicated,
   a) credit institutions and securities companies, b) financial holding companies when they apply these rules for consolidated accounts, and c) branch offices when they apply the rules for annual reports or annual accounts.
3. Institutions with an international connection: an institution that either conducts
   cross-border operations, has one or several branch offices abroad, or is part of the same group as at least one foreign financial undertaking, i.e. a foreign undertaking that is the equivalent of a credit institution, securities company or insurance undertaking pursuant to Chapter 1, section 1 of the Annual Accounts at Insurance Undertaking Act.
4. International accounting standards: International Accounting Standards (IAS),
   International Financial Reporting Standards (IFRS), interpretations from Standing Interpretations Committee (SIC), and interpretations from IFRS Interpretations Committee (IFRIC). FFFS 2020:10 Published 21 September 2020

FFFS 2020:10
2
5. Listed institutions: institutions whose securities are admitted to trading on a
regulated market within the European Economic Area (EEA), i.e. institutions covered by Article 4 of the IAS Regulation.
6. Unlisted institutions: institutions that are not listed institutions.
7. Taken-over property: property that an institution acquired to protect a claim in
accordance with Chapter 7, sections 3 and 5 of the Banking and Financing Business Act (2004:297) or Chapter 7, section 10 of the Securities Market Act (2007:528).
Chapter 5
Section 24 Branches of a foreign undertaking that are the equivalent of a credit
institution or a securities company do not need to provide disclosures in accordance with approved international financial reporting standards or RFR 2 Accounting for Legal Entities. _______________ These regulations and general guidelines shall enter into force on 01 October 2020. ERIK THEDÉEN Eva Sterner