Financial Crime World

Last Updated: December 12, 2023

Swedish Financial Regulatory Landscape: A Comprehensive Overview

Finance plays a vital role in the Swedish economy, with numerous institutions contributing significantly. To effectively participate in the Swedish financial sector, it is essential to understand the intricacies of the Swedish financial regulatory landscape. This article outlines the Swedish financial regulatory landscape and key players, drawing on the expertise of Harvest Advokatbyrå — Scandinavia’s largest independent specialist law firm focusing on financial institutions.

Harvest Advokatbyrá: Your Partner in Swedish Financial Regulation

  • Established: 2016
  • Specialization: Advises various entities, including fintech start-ups, payment institutions, banks, fund managers, credit providers, and crypto-asset service providers
  • Banking and Finance Team: 20 lawyers equipped to handle complex legal and financial regulatory issues

Harvest Advokatbyrå’s banking and finance team boasts extensive experience and maintains close contact with the Swedish Financial Supervisory Authority (Finansinspektionen, SFSA), offering invaluable strategic guidance.

Legislative Framework: Key Swedish Laws and Regulations

Sweden’s financial regulatory framework is a combination of EU directives and regulations and domestic legislation. Key Swedish laws and regulations governing the banking sector include:

  1. Banking and Financing Business Act (SFS 2004:297)
  2. Capital Requirements Regulation (EU) 575/2013 (as amended)
  3. Credit Institutions and Securities Companies (Special Supervision) Act (SFS 2014:968)
  4. Capital Buffers Act (SFS 2014:966)

These regulations cover aspects like authorisation, governance, operations, corporate provisions, credit assessment, and supervision.

Supervision of Swedish Banks: Multiple Regulatory Bodies

Swedish banks fall under the jurisdiction of several regulatory bodies, each with unique responsibilities:

  1. Swedish Financial Supervisory Authority (SFSA): Provides micro and macro-level supervision, overseeing both the Swedish banking sector and conducting on-site inspections.
  2. Riksbanken: Focuses on maintaining financial stability.
  3. Swedish National Debt Office (Riksgälden): Manages banks in crisis and oversees the deposit insurance scheme.
  4. Ministry of Finance: Shapes the legal framework for the banking sector through formulating laws and regulations.

Conclusion

Navigating the complex and ever-evolving Swedish financial regulatory landscape necessitates staying informed and compliant. Partnering with Harvest Advokatbyrå allows financial institutions to overcome regulatory hurdles and thrive in the Swedish financial sector.