Regulations amending Finansinspektionen’s regulations regarding measures against money laundering and terrorist financing

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 v Regulations amending Finansinspektionen’s regulations (FFFS 2017:11) regarding measures against money laundering and terrorist financing; decided on 12 March 2024. Finansinspektionen prescribes pursuant to section 18 of the Ordinance on Measures against Money Laundering and Terrorist Financing (2009:92) with regard to Finansinspektionen’s regulations (FFFS 2017:11) regarding measures against money laundering and terrorist financing in part that Chapter 6, sections 1, 5 and 6 shall have the following wording, in part that two new sections shall be introduced, Chapter 6, sections 1a and 1b, with the following wording.
Chapter 6
Section 1 When an undertaking assesses whether it needs to appoint the functions
specified in Chapter 6, section 2, first paragraph of the Act on Measures against Money Laundering and Terrorist Financing (2017:630), particular account shall be given to

1. the undertaking’s turnover,
2. the number of employees,
3. the number of places of business,
4. the activities of the undertaking,
5. the products and services provided,
6. the complexity of the activities, and
7. the undertaking’s general risk assessment.
   The functions shall perform the tasks described in sections 2–5, 7 and 10.
   Section 1a An undertaking that does not appoint an anti-money-laundering
   compliance officer pursuant to Chapter 6, section 2, first paragraph, point 2 of the Act on Measures against Money Laundering and Terrorist Financing (2017:630) shall ensure that this information is presented in the undertaking’s internal control procedures and guidelines.

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Published on
18 March 2024

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1. which role is responsible for reporting to the Swedish Police according to
Chapter 4, section 3 or 6 of the Act on Measures against Money Laundering and
Terrorist Financing, and
2. how the responsibility for discharging the undertaking’s obligations pursuant to
the Act on Measures against Money Laundering and Terrorist Financing and these regulations is otherwise distributed within the undertaking.
Section 1b An undertaking shall ensure that the undertaking’s internal control
procedures and guidelines clearly specify which functions it has established pursuant to section 1.
Section 51
An anti-money laundering compliance officer pursuant to Chapter 6,
section 2, first paragraph, point 2 of the Act on Measures against Money Laundering
and Terrorist Financing (2017:630) shall
1. monitor and regularly control that the undertaking is complying with the Act on
Measures against Money Laundering and Terrorist Financing, these regulations and the undertaking’s procedures and guidelines,
2. provide advice and support to the undertaking’s employees, contractors and other
persons involved in its activities in a similar capacity on rules concerning money laundering and terrorist financing,
3. inform and train the relevant persons on rules concerning money laundering and
terrorist financing,
4. ensure that information is provided according to Chapter 4, section 6 of Act on
Measures against Money Laundering and Terrorist Financing in the manner stipulated by the Swedish Police,
5. control and regularly assess whether common internal procedures and guidelines
to prevent the business being used for money laundering or terrorist financing, as set out in Chapter 2, sections 8-12 of the Act on Measures against Money Laundering and Terrorist Financing and Chapter 2, section 2 of these regulations, are appropriate and effective,
6. provide recommendations to the people concerned, based on the observations
made by the function, and
7. regularly and at least annually prepare a report on the undertaking’s work to
combat money laundering and terrorism financing.
The anti-money laundering compliance officer may appoint one or more persons to assist for him/her and delegate powers under the first paragraph to these persons.
Section 6 An anti-money laundering compliance officer shall be placed within the
undertaking and shall be independent of the functions and areas to be monitored and verified. An undertaking may outsource to a third party the execution of such tasks as set out in section 5, first paragraph, points 1–3 and 5–7. However, the undertaking is always responsible for the outsourced tasks. _______________ 1 The change entails in part that the first paragraph has been removed.

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These regulations shall enter into force on 26 March 2024.
DANIEL BARR
Vidar Gothenby