Team (2013:287) With Additional Provisions Applicable To The Eu's Regulation Of Otc Derivatives, Central Counterparties And Trade Repositories

Original Language Title: Lag (2013:287) med kompletterande bestämmelser till EU:s förordning om OTC-derivat, centrala motparter och transaktionsregister

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2013:287

Chapter 1. Introductory provisions



section 1 of this Act is complementary to the European Parliament and of the Council

Regulation (EU) No 648/2012 on OTC derivatives, Central

counterparties and trade repositories.



Terms and expressions in this Act have the same meaning as in

Regulation (EU) No 648/2012.



Competent authority



section 2 of the financial supervisory authority is the competent authority in accordance with regulation

(EU) No 648/2012.



Chapter 2. Clearingskyldighet, reporting requirements and

risk reduction for OTC derivatives



Special fee



section 1 of the financial supervision authority shall decide that the special levy shall

taken out of it to override their obligations under

Regulation (EU) No 648/2012 by



1. do not hand over OTC derivatives clearing in central

counterparty (article 4),



2. do not ensure that data on derivatives contracts be reported

to transactional registry (article 9),



3. do not notify the European Securities and

markets authority and the financial supervision authority if the positions of the

OTC derivatives when these positions exceeds the relevant

thresholds (article 10), or



4. do not introduce appropriate procedures and systems to measure,

monitor and mitigate operational risks and credit risks

(article 11).



The special levy shall amount to not less than 5 000 kroons and

a maximum of 50 million.



A special fee to the State.



section 2 of the special fee may only be withdrawn if the fee

applies, within two years from the time the infringement took place, has

notification of a statement that the issue of the special fee has

raised by the FSA.



§ 3 If the infringement is minor or excusable or the

otherwise, there is a special reason, a specific fee remitted

in whole or in part.



4 section a special fee is payable to the financial supervisory authority

within thirty days after the decision to take out

levy has become final or the longer time specified

in the decision.



section 5 Of the special fee has not been paid within the time

as indicated in paragraph 4 of the financial supervision authority shall submit the unpaid

the fee for the recovery.



Provisions of the Recovery Act (1993:891) if

recovery of State assets, etc.



paragraph 6 of The decision on the special levy shall be enforced under

the enforcement code, if the fee has not been paid within the time

as specified in section 4.



section 7 a specific charge falls away to the extent

enforcement has not been made within five years from the

the decision to withdraw the charge became final.



Chapter 3. Transaction records



Executive assistance



section 1 of the financial supervision authority may request the assistance of the

Enforcement authority for an on-the-spot check in accordance with

Article 63 of Regulation (EC) No 648/2012 shall be

implemented.



For assistance in enforcement of the provisions of the code

enforcement of obligations that do not relate to

payment obligation or eviction. About Finansinspektionen

request it, the bailiff does not notify in advance

most of the checks to be carried out.



Enforcement



section 2 of the Swedish enforcement authority is the authority responsible for

authenticity according to article 68 of Regulation (EU) no

648/2012.



Decision on the charges or penalties referred to in the regulation,

enforced under the enforcement code in the same way as a

Swedish judgment which has become final, unless otherwise

comply with the regulation.



Chapter 4. Common provisions



Supervision



Article 1 of that Regulation (EU) No 648/2012 is followed

the Swedish financial supervisory authority may submit to the



1. a company or another to provide

information, documents, or other things, and



2. are expected to be able to provide information on the matter to

to appear for interrogation at the time and place that the inspection

determines.



The first subparagraph shall not apply to the extent

provision would be contrary to the law regulated

confidentiality for lawyers.



section 2 of the financial supervision authority shall also order the person who has

failed to fulfil its obligations under Regulation (EC) no

648/2012 to within some time take a particular action to be

to correct the situation or cease a particular

actions.



section 3 of an order under this Act may be subject to a penalty.



Fees to the FSA



paragraph 4 of the financial supervision authority may charge fees for the examination of

applications and notifications according to Regulation (EU) no

648/2012.



For FSA supervision according to this law

institutions under supervision pay an annual

fee.



The Government may provide for fees referred to in the first

and second subparagraphs.



Appeal



paragraph 5 of the decision of the financial supervisory authority in accordance with this law and in accordance with

Regulation (EU) No 648/2012 may be appealed to the General

Administrative Court.



Leave to appeal is required for an appeal to

the administrative court.



paragraph 6 of the financial supervision authority may decide that a

the decision will apply immediately, subject to the

Regulation (EU) No 648/2012.



Transitional provisions



2013:287



1. this law shall enter into force on 1 June 2013.



2. Special fee may be imposed only for offences

have taken place after the entry into force.