Aggregated News From Investment Management Regulators

Sweden

Postponed maintenance of the TRS 2 system

TRS 2 will be closed for maintenance on Monday the 31 January. It will still be possible to submit TR files, but feedback will not be sent until the maintenance has been completed (noon the 1 February). The reason for this postponement is that the European Securities and Markets Authority (ESMA) has posponed a deployment operation for a new release of the Financial Instruments Reference Data System (FIRDS). This also means that TRS 2 will be in operation Monday the 24 January. This news item was originally published by the Swedish Financial Supervisory Authority (FI SE). For more information, please see the Source...

Management team expands

As of 1 March, HR will become its own office and report directly to FI’s director general. Following this change, HR Director Karolina Lirón Källåker will become an executive director and join FI’s management team. Karolina Lirón Källåker has been the director of the HR department since 2019. This news item was originally published by the Swedish Financial Supervisory Authority (FI SE). For more information, please see the Source Link.

Susanna Grufman new executive director of Markets

On 1 February, Susanna Grufman will become the executive director of FI’s Markets section. She will continue to serve as the deputy director general and maintain responsibility for consumer protection matters. Susanna Grufman has worked at FI since 2016 and is currently FI's deputy director general and the executive director of the Administration and Operational Support section. She previously worked at the Riksbank and the central securities depository Euroclear Sweden. FI's Organisation This news item was originally published by the Swedish Financial Supervisory Authority (FI SE). For more information, please see the Source Link.

Application for administrator authorisation – STIBOR may continue to be used while FI evaluates the application

Swedish Financial Benchmark Facility AB (SFBF) submitted an application to Finansinspektionen (FI) on 27 December 2021 to become an authorised administrator in accordance with the EU’s Benchmark Regulation (BMR). SFBF provides the benchmark STIBOR (Stockholm Interbank Offered Rate), which is a critical reference rate according to the BMR. Under the transitional provisions set out in the BMR, STIBOR may continue to be used while FI evaluates the application. Regulation (EU) 2016/1011 (BMR) (EUR-Lex) Q&A on the Benchmarks Regulation (BMR) (ESMA) Benchmarks administrators - ESMA’s public register of administrators pursuant to the BMR This news item was originally published by the Swedish...

Recommended actions in the event STIBOR is no longer provided

The Swedish Bankers’ Association published a recommendation yesterday on the actions users of the STIBOR reference rate should take if STIBOR were no longer provided. Finansinspektionen (FI) would therefore like to clarify how we will issue statements, if necessary, in the event STIBOR ceases to be provided. Most firms in the financial sector that use benchmarks are required to maintain written plans setting out the actions they would take in the event a benchmark materially changes or ceases to be provided. The provision is set out in the EU's Benchmark Regulation (BMR). On 16th of December 2021, the Swedish Bankers' Association...

Updates in reporting AML

New reporting questions in 2022 We have updated the information on these pages on fi.se: Banking/Money Laundering/Reporting to FI Insurance/Money Laundering/Reporting to FI Markets/Money Laundering/Reporting to FI This news item was originally published by the Swedish Financial Supervisory Authority (FI SE). For more information, please see the Source Link.

Capital requirements of Swedish banks as of Q3 2021

Finansinspektionen publishes the capital requirements of the largest Swedish banks and credit institutions that belong to supervisory categories 1 and 2 as of the end of Q3 2021. The capital requirements are published in order to illustrate the effect of Finansinspektionen's total capital requirement, including Pillar 2. Pillar 2 is a collective term for the rules that govern the firms' internal capital assessments and Finansinspektionen's supervisory review and evaluation process, of which Finansinspektionen's capital assessment forms an integral part. Finansinspektionen decided to change the application of capital requirements for Swedish banks in October 2020 in order to adapt to the...

Resilience is needed as the risks in the commercial real estate sector increase

The economic recovery has been stronger than expected this year, in part due to strong support measures during the pandemic. At the same time, risks are building up, writes Finansinspektionen (FI) in its second stability report of the year. The report is being presented today by Director General Erik Thedéen and Chief Economist Henrik Braconier at a press conference. The global economic recovery has been stronger than expected, in part as a result of powerful support measures. This also applies to the Swedish economy. The support measures contributed to limiting bankruptcies and credit losses, but they also encouraged high risk-taking...

Continued problems with credit assessments of consumer credits

Borrowers of consumer credits have higher incomes and pay less for their loans in relation to their income compared to previous years. But we are seeing deficiencies in the credit assessment, and many borrowers are still receiving collection notices. Young borrowers are still overrepresented among those that experience early repayment problems. These are the conclusions from this year’s consumer credit survey. The conclusions of the survey will be presented at a press conference today at 10:00 AM by FI's Deputy Director General Susanna Grufman and Analyst Lars Olausson from FI's Economic Analysis Office. This is the fourth time FI has conducted...

IMF to assess financial stability in Sweden

The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022. FSAPs are conducted regularly for countries with systemically important financial markets. In its report, the IMF will highlight any flaws and risks in the system and propose measures to deal with them. The IMF has assessed the financial sector in over 150 member countries since the first FSAP in 1999 and interest in being assessed has grown since the financial crisis. Sweden's most recent FSAP was conducted in 2016. Sweden's...

TRS 2 closed for maintenance 18 November

TRS 2 will be closed for maintenance the 18 November. It will still be possible to submit TR files, but feedback will not be sent until the maintenance has been completed. This news item was originally published by the Swedish Financial Supervisory Authority (FI SE). For more information, please see the Source Link.

Erik Thedéen talks about sustainability reporting at COP26

A global standard for sustainability reporting will make it possible for the finance sector to steer investments from harmful activities to activities that contribute to the climate transition. Finansinspektionen’s (FI) Director General Erik Thedéen will be at the UN’s climate conference (COP26) in Glasgow to talk about this work. Erik Thedéen is heading the work for the global standard for the International Organization of Securities Commissions (IOSCO). He will be in Glasgow 3–4 November to discuss the positive effects the standard will have on future investments that contribute to the climate transition. "Emissions and climate changes know no borders. The solutions...

Regulator Information

Abbreviation: FI
Jurisdiction: Sweden

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This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

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