Act (2004:297) On Banking And Finance Law

Original Language Title: Lag (2004:297) om bank- och finansieringsrörelse

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Chapter 1. Introductory provisions



The scope of the law



section 1 of this Bill provides for the banking and

financing business. The law does not apply to the activities of

Sveriges riksbank, or riksgäldskontoret.



section 2 of the foreign business activity in Sweden applies

the provisions of this Act apply mutatis mutandis. For branches

to foreign companies in force in other Act (1992:160) if

foreign branches, etc.



Definition of banking



3 § With banking refers to the movement which included



1. remittance via general payment systems, and



2. the receipt of funds upon termination is available for

the creditor within 30 days.



With the General payment systems means systems for the delivery of

payments from a large number of affiliated

payor intended to reach a large number of affiliated

final beneficiaries.



Definition of financing business



4 section With finance law refers to the movement which included

trade or business that has the objective to



1. to receive repayable funds from the public, and



2. provide credit, ask for credit guarantee or in

financing purpose of acquiring debt or lease movable

property to use (leasing). Law (2009:616).



Other definitions



§ 5/expires U: 2016-02-01-in this law means



1. affiliated companies: a Swedish or foreign company whose

main activity consists in owning or managing

property, managing data-processing services or pursue other

similar activity which is ancillary to the main

the activities of one or more credit institutions,

securities companies or equivalent foreign companies,



2. bank: banking companies, savings bank and Credit Union,



3. banking companies: a joint stock company which has been authorised to

banking,



4. competent authority: a foreign authority that has

to supervise foreign credit institutions,



5. EEA: European economic area,



6. branch "means a branch office with independent management,

also taking a foreign credit institution's establishment of several

establishments must be regarded as a single branch;



7. financial institution ' means an undertaking which is not

credit institutions, investment firms or equivalent foreign

companies whose main business is to



a) acquire or hold shares or units,



b) operate securities operations without being licensed

According to Chapter 2. section 1 of the Act (2007:528) on the securities market,

or



c) operate one or more of the activities referred to in Chapter 7.

1 section 2 – 10, 12 and 15 without being

licensed pursuant to Chapter 2. section 1,



8. country of origin: the country where an undertaking has been authorised to

movement as referred to in this Act,



9. capital base: same as referred to in article 72 of the

European Parliament and Council Regulation (EC) no 575/2013 of

on 26 June 2013 on prudential requirements for credit institutions and

investment firms and amending Regulation (EC) no

648/2012,



10. credit institutions: banks and credit market companies,



11. capital adequacy directive: European Parliament and Council

Directive of the EUROPEAN UNION for permission to

the activity of credit institutions and the prudential supervision of

credit institutions and investment firms, amending

Directive 2002/87/EC and repealing Directive 2006/48/EC

and 2006/49/EC,



12. credit market companies: a joint stock company which has a

permission to operate financing business,



13. credit markets compound: a business association that has

a licence to operate financing business,



14. credit market companies: credit market companies and

credit market Association,



15. qualifying holding shall mean a direct or indirect holding in

a company, holding calculated in the manner specified in

5 a § represents 10% or more of the capital or

of all of the votes or otherwise allows a significant

influence over the management of the company,



16. member bank: a cooperative society referred to in the law

(1995:1570) where the member banks,



17. Savings Bank: a company referred to in the Savings Bank Act are amended

(1987:619)



18. the initial capital: the capital of credit institutions referred to in

Article 4.51 of Regulation (EU) no 575/2013,



19. foreign bank companies: a foreign company in the

the home Member State is authorised to conduct banking,



20. foreign credit unions: a foreign company in the

the home Member State are authorized to drive the financing business, and



21. foreign credit institutions: a foreign banking companies and

a foreign credit unions. Law (2014:982).



§ 5/comes into force in: 2016-02-01-in this law means



1. affiliated companies: a Swedish or foreign company whose main activity consists in owning or managing property, managing data-processing services, or pursue any other similar activity which is ancillary to the principal activity of one or more credit institutions, investment firms or equivalent foreign companies,



2. bank: banking companies, savings bank and Credit Union,



3. banking company: a company that has a license to conduct banking,



4. competent authority: a foreign authority to supervise foreign credit institutions,



5. EEA: European economic area,



6. branch "means a branch office with independent management, whereby a foreign credit institution's establishment of several establishments should be regarded as a single branch;



7. financial institution ' means an undertaking other than a credit institution, investment firm or equivalent foreign company whose main business is to



a) acquire or hold shares or units,



b) operate securities operations without being licensed pursuant to Chapter 2. section 1 of the Act (2007:528) on the securities market, or



c) operate one or more of the activities referred to in Chapter 7.

1 section 2 – 10, 12 and 15 without being licensed pursuant to Chapter 2. section 1,



8. home country means the country where a company has a permit to the movement referred to in this Act,



9. capital base: same as in article 72 of the prudential regulation,



10. credit institutions: banks and credit market companies,



11. capital adequacy directive: European Parliament and Council directive of 26 June on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directive 2006/48/EC and 2006/49/EC in wording pursuant to European Parliament and Council Directive 2004/59/EC,



12. credit market companies: a joint stock company which has been authorised to drive the financing business,



13. credit markets compound: an economic association who has a permit to operate the finance law, 14. credit market companies: credit market company and the credit market Association, 15. qualifying holding shall mean a direct or indirect holding in an undertaking, if the holding, calculated in the manner set out in section 5 (a) represents 10% or more of the capital or of the voting rights or otherwise allows a significant influence over the management of the company,



16. member bank: a cooperative society referred to in the Act (1995:1570) where the member banks,



17. Savings Bank: a company referred to in the Savings Bank Act are amended (1987:619)



18. the initial capital: the capital of credit institutions referred to in article 4.51 in prudential regulation,



19. foreign bank companies: foreign companies in their home country are licensed to conduct banking,



20. foreign credit unions: a foreign company in the homeland has permission to operate financing business, 21. foreign credit institutions: a foreign banking companies and a foreign credit companies, 22. significant branch: branch which is significant according to article 51(1) of the solvency ratio directive,



23. mixed financial holding company "means a holding company within the meaning of article 4.1.21 in prudential regulation,



24. mixed financial holding company within the EEA: one within the EEA established mixed financial holding company which is not a subsidiary of a



(a)) credit institutions, investment firms or EEA institutions, or



(b)) other mixed financial holding company or a financial holding company set up in any country within the EEA,



25. The EEA institutions: a foreign credit institution or a foreign securities company which is resident in another country within the EEA than Sweden,



26. financial holding: a holding company within the meaning of article 4(1) of the prudential regulation, 27. financial holding company in the EEA: one within the EEA established financial holding company which is not a subsidiary of a a) credit institutions, securities companies or EEA institutions, or



(b)) other financial holding company or a mixed financial holding company set up in any country within the EEA,



28. mixed-activity: holding company within the meaning of article 4.1.22 prudential regulation,



29. Group: a) in 6 a, 6 b and chapter 15 b, the same as in Chapter 2. section 1 of the Act (2015:1016) concerning resolution, b) in other chapters, the same as in Chapter 1. 11 and 12 of the companies Act (2005:551), whereby the parent company also apply to other legal persons other than corporations



30. consolidated recovery plan "means a plan established by a parent company in the EEA in order to identify actions that the companies of a group covered by the supervision on a consolidated basis, intend to take in order to preserve or restore the group or a group of credit institutions, or


foreign credit institution's financial condition and viability after a significant deterioration of the financial situation,



31. crisis management directive: European Parliament and Council Directive 2004/59/EU of 15 may 2014, establishing a framework for the resolution of credit institutions and investment firms, and amending Council Directive 82/891/EEC and European Parliament and Council Directive 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/2013/30/EU 36/EU and European Parliament and Council Regulation (EU) no 1093/2010 and (EU) No 648/2012 in the original wording,



32. the parent company within the EEA: a parent institution within the EEA, a parent financial holding company in the EEA or a mixed financial holding company within the EEA,



33. the parent institutions within the EEA "means a credit institution, investment firm or EEA institution is a parent and that is not a subsidiary of a (a)) other credit institutions, investment firms or EEA institutions, or



b) financial holding company or a mixed financial holding company set up in any country within the EEA, 34. coordinating supervisory authority: a competent authority responsible for exercising supervision on a consolidated basis of parent institutions within the EEA and of institutions controlled by EU parent financial holding companies within the EEA or mixed financial holding company within the EEA,



35. prudential regulation: European Parliament and Council Regulation (EC) no 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms amending Regulation (EU) No 648/2012, in wording pursuant to European Parliament and Council Directive 2004/59/EC,



36. foreign investment firms: a foreign company in the homeland has permission to operate securities operations, and 37. recovery plan: a plan established by a credit institution in order to identify the measures to which the institution intends to take in order to preserve or restore their financial condition and viability after a significant deterioration of the financial situation. Law (2015:1029).



5 a § in determining whether an investment is a

qualifying holding pursuant to § 15, the following provisions

in Chapter 4. Act (1991:980) financial instruments trading

instruments are applied:



(2) paragraph 1 of depositary receipts,



— paragraph 4, second subparagraph, 1-8, and the third and

fifth paragraphs, if the calculation of the holding,



– paragraph 5, second subparagraph, if the calculation of the number of shares or

votes,



– section 12 1 and 2 If the exception of shares held for

clearing and settlement or managed for someone else's

sheet,



– section 13 if the shares included in the trading book,



— section 14 if the shares held by market makers, as well as



– paragraphs 16 and 17 on the exemption of some parent companies.



The analysis must also apply rules



– If the shares held by the market makers, who have

issued under Chapter 7. section 1 of Act 3

financial instruments or Chapter 23. 15 § 1 Act (2007:528)

If the securities market, and



— exemption of certain parent company, which has been issued with

under Chapter 7. 1 § 4 financial trading act

instruments.



It provided for if shares in the provisions to be

applied under the first and second subparagraphs shall also

apply for the other shares in the company.



Shares or units as a securities firm or a

credit institutions that drive the financial movement holds to

as a result of activities under Chapter 2. 1 § 6 the law on

the securities market shall not, however, be taken into account in the assessment,

provided that the



1. voting rights are not exploited or used otherwise for

to intervene in the issuer's management, as well as



2. the shares or units are sold within one year from the

the acquisition.



It provided for in the fourth subparagraph shall also apply to

shares or units held in the corresponding

conditions of a foreign investment firm or of

a foreign credit institution which operates

financing business. Law (2015:184).



section 6 a credit institution or another company shall be presumed to have

close links, if



1. one company directly or indirectly through subsidiaries

owns at least 20 per cent of the capital or disposes of at least

20% of all votes in the other company,



2. one company directly or indirectly represents the parent company

to the other or there is another similar relationship

between undertakings, or



3. both companies are subsidiaries of or have a similar

relationship with the one and the same legal entity or a

the corresponding relation to one and the same natural person.



Close relations are also a natural person and a

credit institution, if



1. the natural person



a) owns at least 20 per cent of the capital of the credit institution,



b) disposes of at least 20 percent of all votes in

credit institution, or



c) otherwise has such influence over the credit institution

that the person's position is equivalent to that which a parent undertaking has

in relation to a subsidiary, or



2. There is another similar connection between this personal

and the credit institution.



Reception of repayable funds



section 7 Only a Swedish or foreign credit institutions may operate

trade or business that has the objective to receive

repayable funds from the public, unless otherwise

legally required.



The first subparagraph shall not apply to the activities for which it shall

the prospectus is drawn up according to the Act (1991:980) on trade in

financial instruments or equivalent foreign

provisions. Act (2005:932).



Rules should be applied to undertakings other than credit institutions



section 8, if a credit institution is subject to supervision on a consolidated basis in

accordance with articles 11 and 23 of Regulation (EC) no 575/2013,

the provisions of 6 to 9, 13 and 15. This law, and

the provisions of the Act (2014:968) if special supervision of

credit institutions and securities companies if an institution's operating

and if supervision over an institution, shall apply mutatis mutandis

for other companies in the group. The restrictions in question

If an institution's motion is directed to companies in the Group

in common.



If there are special reasons, an enterprise may be exempted from

the provisions of the first subparagraph. Questions about such exceptions

tested by the Swedish financial supervisory authority. Law (2014:982).



Bank in the firm, etc.



section 9 Only banks, Sveriges riksbank, and foreign credit institutions

get in their company or otherwise by letter of their

business use the word bank. A foreign credit institution

may carry on business under the firm name of Institute of Sweden

use in the country where it has its head office.



A corporation or other legal entity with close

affiliation with any referred to in the first subparagraph may, after

the permission of the financial supervision authority, using the word bank in their

firm.



What is said in this paragraph does not prevent a company

covered by deposit Bank Act (1995:1000) use the word pawnbroker

in their company or otherwise in their movement. Law (2011:460).



Professional secrecy



section 10 of the individuals ' conditions to credit institutions shall not

improperly disclosed. The same applies to a task in a notification

or a statement about a suspected violation of a

provision applicable to the credit institution's activities, if

the task can reveal the identity of the notifier.



In the public activities apply instead the provisions

in publicity and secrecy (2009:400).



Liability under Chapter 20. paragraph 3 of the criminal code should not follow the

that violates the prohibition referred to in the first subparagraph.



In 5 a of the credit information Act (1973:1173) contains provisions

that means that the rules on professional secrecy referred to in the first

the paragraph does not prevent the data in some cases are exchanged for

credit reference purposes. Law (2014:982).



Obligation to provide data



10 (a) of Chapter 16 of the. 10 a § parental code provides for

obligation for credit institutions to provide information to

the chief guardian. Law (2008:913).



section 11 of a credit institution is required to disclose information about

an individual's relationship to the institution, if, during a

investigation in accordance with the provisions of preliminary investigation in criminal cases

requested by the investigators or whether, in a case about the

legal assistance in criminal matters at the request of another State

or an International Court is requested by prosecutors.



Message ban



section 12 of The investigators or prosecutors request information

According to section 11, shall order that the credit institution and its

Directors and employees shall not disclose to the customer or

to any third party that the information has been provided in accordance with section 11 of the

or that there is an investigation or case if

legal assistance in criminal matters.



Such a ban may be communicated if required to a

investigation of crimes should not be compromised or to meet

an international agreement which is binding for Sweden.



This prohibition shall be limited in time, with the possibility of

extension, and may not be for longer than is

justified by the purpose of the ban. In a case if the

legal assistance in criminal matters may, however, the ban be limited

only if the State or international court applied for

legal assistance agrees to this.



If a prohibition is no longer justified with regard to the purpose of the

with the ban, the-patient basis or the Prosecutor

decide that the appointment shall terminate. Act (2005:497).



The liability provision



section 13 to a fine person who willfully or through gross

negligence violates a prohibition notice under section 12.


Act (2005:497).



Chapter 2. Licensed banking and finance law



Obtain a permit



section 1 of the banking or financial business may be driven only

After authorization, unless otherwise follows from this law.



Exemptions from the permit requirement for banking



section 2 of the banking Authorization is not needed for



1. the issuance of electronic money under the Act (2011:755) if

electronic money, or



2. the provision of payment services pursuant to lagen (2010:751)

on payment services. Law (2011:768).



Exemptions from the permit requirement for financing business



paragraph 3 of the Licence under this Act is not needed for

financing business run by



1. a bank,



2. a foreign banking companies authorized to operate

banking in Sweden according to Chapter 4. paragraph 4,



3. an insurance company, an investment firm, Swedish

skeppshypotekskassan or a pawnbroker pursuant to the deposit Bank Act

(1995:1000), to the extent permitted by the order

the legislation applicable to them,



4. a company that provides financing in connection with

provision of services provided or goods obtained

or sold by



(a)) the company, or



b) another company in the same group or equivalent

foreign business group, provided that



group or corporate group does not have as main

purpose to push financial activity, and



-the company that provides financing borrowing funds

from the public just by giving out such transferable

securities as referred to in Chapter 1. paragraph 4(1) (b) of the Act

(2007:528) securities with a maturity of at least one

years,



5. a corporation or a cooperative if



a) operations is to occasionally acquire

Receivables, and



b) funds for activities not running sourced from

the public,



6. a company only finances the other companies in the same

group or equivalent foreign company group, provided

to group or



the group does not have as its main purpose to drive

financial activities,



7. an economic association, the



a) members on each occasion has less than 1,000 physical

people,



(b)) that members assume only people included in a previously

identifiable limited circle that is also specified in the Association's

Bylaws,



c) receive repayable funds only from members

or from financial companies, and



(d)) has the objective just that with such means as referred to in (c)

meet the financing needs of the members.



The derogations referred to in the first subparagraph 5 and 7 for motion powered

of public limited liability companies or business association also applies to such

movement powered by foreign companies.



Permission to operate the finance law is needed nor

for the provision of payment services pursuant to lagen (2010:751)

on payment services. Law (2010:760).



Chapter 3. Permits for Swedish companies



Conditions for authorisation



section 1 Authorisation shall be given banking for Swedish

limited liability companies, savings banks and member banks.



Permission to operate financing business may be given for Swedish

limited liability companies and cooperative societies.



Provisions on the conditions for foreign companies to operate

banking or financing business in Sweden, see Chapter 4.



section 2 of a Swedish company is given permission to operate

banking or financial business where



1. the articles of Association, statutes or regulations is true

consistent with this Act and the regulations and in the other

contains the special provisions necessary with regard

to the scope and nature of the planned activities,



2. There is reason to believe that the planned movement will

to be operated in accordance with the provisions of this law and other

regulations governing the company's activities,



3. the person having or likely to have a

qualifying holding in the company is deemed appropriate to exercise a

significant influence over the management of a credit institution,



4. it should be included in the Board of Directors of the company or be

Executive Director of it, or be a substitute for any

of them, have the necessary insight and experience to participate in

the management of a credit institution and also in other respects is appropriate

for such a task, and



5. the Board of Directors as a whole has adequate knowledge and

experience to lead the company.



The assessment referred to in the first subparagraph 3 of if a holder

is appropriate to their reputations and capital strength to be taken into account. The

should also be taken into account if there is reason to believe that



1. the holder will counter that the credit institution's

business is conducted in a manner consistent with the requirements of

This Act and the regulations governing the company's

activities, or



2. the holding in connection with, or may increase the risk of



a) money laundering as referred to in Chapter 1. paragraph 5 of the 6 teams (2009:62) if

measures against money laundering and the financing of terrorism,

or



b) offences under paragraph 2 of section 2, 3 or 4 § lagen (2002:444) if

punishment for the financing of particularly serious crime in

some cases, with respect to offences under section 2 of the Act (2003:148) if

the penalties for terrorist offences.



If the person who will have a qualifying holding in the company

is a financial holding company or a mixed

financial holding company, the assessment of

holder's reputation, especially if its management

meets the requirements for the management of such

company in accordance with Chapter 3. section 5 of the Act (2014:968) on special

supervision of credit institutions and securities companies and

Chapter 5. section 16 of the Act (2006:531) on special supervision of

financial conglomerates.



If your company has or likely to get near

relations with someone else, permission is granted only if the

relations does not hinder an effective supervision of

the company. Law (2014:982).



Approval of articles of incorporation, etc.



paragraph 3 of the articles of incorporation, bylaws or regulations for a company

to be accepted in connection with this licence to operate

banking or financing business.



4 of a credit institution which has decided to change its

articles of incorporation, its bylaws or regulations, shall apply to

on the approval of the change. The amendment shall be accepted if

the articles of Association, statutes or regulations in conformity with

This Act and regulations and otherwise contains the

Special provisions are needed to take account of the scope

and the nature of the activities of the Institute.



A decision on the amendment of the articles of Association, statutes, Charter or

regulations shall not be registered until it has been approved.



Start-up capital, etc.



§ 5, A banking company, when the movement begins to have a

initial capital as at the date of the decision authorising the

equivalent to at least EUR 5 million.



section 6, A savings bank, when the movement begins have initial capital

as at the date of the decision on authorisation corresponds to at least one

million euros.



section 7 A member bank and credit market undertakings shall, when

the movement starts have initial capital as at the date of

decision authorising equivalent to at least EUR 5 million.



If the balance sheet total of the planned movement can be calculated

amount to a maximum of one hundred million kroons or, if the institution

will have their accounts in euro, 12 million euro,

the Institute in the context of the examination of an application for authorisation

allowed to have a lower initial capital than that referred to in the first

paragraph, but not less than the equivalent of one million euros.



In Chapter 9. section 2 contains provisions on the size of the institution's

own funds in the event that total assets under operating

time exceeds one hundred million kroons or, if the institution

have their accounting in euros, twelve million euros. Act (2004:444).



The examination of the application



section 8, an application for authorisation to conduct banking or

financing business, as well as questions about approval of

articles of incorporation, bylaws or regulations under section 3 or 4

and if the consent referred to in article 7, second paragraph, be reviewed by the

The Swedish financial supervisory authority. Team (2013:455).



8 a of the financial supervision authority shall, before it decides on the licensing

consult with the equivalent foreign regulatory authority in a

other country within the EEA, if the company



1. is or can be expected to become subsidiaries of a

foreign credit institution, an insurance undertaking or

investment firms authorised in that country,



2. is or can be expected to become subsidiaries of

the parent of a foreign credit institution, a company

of electronic money, an insurance undertaking or

investment firms authorised in that country, or



3. controlled or can be expected to be controlled by

the same person, whether natural or legal, who controls

of a foreign credit institution, a company for

electronic money, an insurance undertaking or

investment firms authorised in the country.

Team (2013:455).



Application for permit



§ 9 a corporation and an economic association may apply for

State before the company registered in the companies Act,

the European company, association or European cooperative register.



If a corporation has filed for permits within six months of

stiftelseurkundens signature, counted the time specified in the 2

Cape. 22 of the Swedish companies Act (2005:551) from the permit decision.

If an economic association has applied for a permit within six

months from the decision to form the Coalition, count the time

as mentioned in Chapter 2. section 3(1) the law (1987:667) if

economic associations from the permit decision. Law (2006:612).



Chapter 4. Foreign business operations in Sweden



Credit institutions established in the EEA



(1) a foreign credit institution which belongs within the EEA and, where


power financial operating may begin to operate such a business

as indicated in Chapter 7. 1 section through a branch in Sweden,

two months after the financial supervision authority of a competent

authority of the home Member State has received a notification

containing



1. a plan of the intended operations in this country with

stating, among other things, the branch's organization,



2. indication of the address of the branch and responsible management, and



3. the credit institution's own funds and

capital adequacy ratio.



The financial supervision authority may allow operations commence earlier

than that specified in the first subparagraph. If necessary, the

The Swedish financial supervisory authority, before the foreign credit institution begins

pursuit of the business of the branch, inform the institution of the

rules applicable to the activities in this country.



section 2 of the foreign credit institution referred to in section 1 may offer

and provide such services as set out in Chapter 7. 1 section

paragraph in Sweden without setting up a branch here, as soon as

The Swedish financial supervisory authority from a competent authority in the Institute's

homeland has received a notification that specifies which

the Institute intends to provide services in Sweden.



by way of derogation from paragraph 3, 1 and 2 sections of a foreign credit institution

also applies to a financial institution that belongs within the EEA and

its subsidiaries, if the financial institution is

subsidiaries of such foreign credit institutions as

referred to in paragraph 1 or owned jointly by two or more such

foreign credit institutions, and meets all of the following

terms and conditions.



1. The foreign credit institution that owns the

financial institution (credit institution of ownership) shall be

authorised as credit institutions in the country whose law applies

for the financial institution.



2. The activities in question must be operated in the EEA country

the law applies to the financial institution.



3. Ownership, credit institutions shall hold at least 90% of

all the voices in the financial institution.



4. proprietary credit institution shall satisfy the competent authorities

requirements for the sound management of the financial institution and

must have declared, with the consent of the competent

authorities, that they jointly and severally guarantee the commitments entered into by the

financial institution has made.



5. The financial institution should be covered, especially with

respect to the activity in question, of consolidated supervision

that ownership credit institutions are subject to.



That the conditions laid down in the first subparagraph are met shall be shown by the

the notifications referred to in paragraphs 1 and 2.



Such a notification referred to in § 1 shall, as regards the

companies referred to in the first subparagraph include, even if

the consolidated capital adequacy ratio of ownership

credit institution or its parent company.



Other foreign credit institutions



4 of another foreign credit institutions than such referred to

to in paragraph 1 may be authorised to conduct banking or

financing business from branch in Sweden. Authorisation shall be given

If



1. the Institute is under adequate supervision by a competent

authority of the home Member State and the authority has admitted that

the company establishes itself in Sweden,



2. There is reason to believe that the planned activities

will be operated in a manner consistent with Chapter 3.

2 – 7 sections, and



3. deposits with the branch covered by warranty in accordance with the law

(1995:1571) on deposit guarantee or by a foreign guarantee

as



a) include deposits referred to in section 2 of the Act on

deposit guarantee and



(b)) has a level of compensation at least equal to 100 000

euro. Law (2010:1866).



paragraph 5 of the licence application to the branch establishment in accordance with paragraph 4 of

tested by the Swedish financial supervisory authority. Team (2013:455).



section 6 of the credit institutions established outside the EEA, after

notification to the financial supervision authority doing business as

mainly refers to representation and intermediation of banking and

financing services from Office or other fixed place of business

(representative offices) in Sweden.



Permitted activities



paragraph 7 of a foreign credit institution which operates the movement with the support of

1, 2 or 4 of getting this drive just such activities covered

of the Institute's business license in your home country.



A foreign company referred to in section 3, this drive just such

activities permitted under the company's articles of Association

or bylaws, and only to the extent the

foreign credit institutions that own the company or its

the parent company would have the right under the first subparagraph to drive

such activities.



In Chapter 4. 2 § 2 and 3 Act (2007:528) on securities market

provides for activities described in Chapter 2. 1 §

the same law, in certain circumstances, may be driven by foreign

credit institutions operating on the basis of paragraphs 1 and 2 and

of financial institutions and subsidiaries operating

pursuant to paragraph 3. Law (2007:563).



Chapter 5. Swedish business activities abroad



Branch operations in the EEA



§ 1 To a credit institution that operates with the

purpose to receive repayable funds from the

the general public and to lend, set the guarantee for the credit

or financing purpose acquire claims or grant

movable property to use to establish a branch within the EEA for

activities provided for in Chapter 7. paragraph 1, second subparagraph, shall

the institution shall inform the financial supervision authority before the business

begins. The notification shall contain



1. information about the Institute's plan for branch operations, with

indication of the branch's organization, and



2. indication of the country in which the branch is to be set up and if

the address of the branch and responsible management.



section 2 Considers the Swedish financial supervisory authority in the cases referred to in paragraph 1 to the

is no reason to question the institution's administrative

structure or the financial situation of, the supervisory authority within the

three months from the date the notification was received, hand over

it to the competent authority of the country in which the branch shall

set up. The inspection shall communicate the

the size of the institution's own funds and capital adequacy.



The financial supervision authority shall inform the credit institution when

the inspection leaves over the notification.



If the financial supervision authority finds that there are no conditions

to give the notification referred to in the first

subparagraph, shall notify the supervision authority decision on it within three

months of the date on which the notification was received.



3 § If a credit institution referred to in paragraph 1 shall change any of

the conditions specified in the institution's notice to

The FSA after the branch is established, shall

the Institute shall notify the inspection at least one month

before implementing the change.



If the financial supervision authority finds that the change may not be made,

the inspection shall take a decision on it within one month from the

that notification came in for inspection. The competent

authority of the other country shall be informed immediately

the decision.



Cross-border activities within the EEA



paragraph 4 Would a credit institution as referred to in § 1 offer and

provide such services as set out in Chapter 7. 1 section

the paragraph in the EEA without the establishment of the branch there, the institution shall

notify the financial supervision authority before operations commence.

The notification shall indicate in which country

business must operate and what services to be

be offered.



The financial supervision authority shall, within one month from the

the notification was received, leaving it to the competent

authority of the country in which the business will operate.



Other cases of branch operations abroad



5 § in cases other than those referred to in paragraph 1 shall be a credit institution

planning to set up a branch abroad apply for

permission of the financial supervision authority. Such authorisation shall

be given if there is reason to believe that the planned movement

will be operated in accordance with the provisions of this law and other

regulations governing the Institute's activities.



Chapter 6. Overall provisions for credit institutions operating



Solvency and liquidity



§ 1 a credit institution's motion shall be operated in such a way

to the institution's capacity to comply with their obligations not

compromised.



Risk management



2 §/expires U: 2016-02-01/a credit institution shall identify, measure, control, internal

report and control the risks to which its motion is

associated with that regard. the institution shall ensure that it has a

adequate internal control.



A credit institution shall ensure that its

credit risk, market risk, operational risk and other risks

taken together, does not imply that the institution's ability to meet

their obligations. To meet this requirement shall

it at least have methods that make it possible to continuously

evaluate and maintain a capital as to the amount, kind and

allocation is sufficient to cover the nature and level of the

risks to which it is or might be exposed to.

The credit institution shall evaluate these methods to

ensure that they are comprehensive. Law (2006:1387).



2 section/entry into force: 2016-02-01/a credit institution shall identify, measure, control, internal reporting and control the risks associated with its business. the institution shall ensure that it has an adequate internal control. It should also draw up a recovery plan or group recovery plan according to 6 a kap.



A credit institution shall ensure in particular that its credit risk, market risk, operational risk and other risks combined do not lead to institution's ability to meet its obligations. To meet this


requirements, it should at least have methods that make it possible to continuously evaluate and maintain a capital to the amount, kind and allocation is sufficient to cover the nature and level of the risks it is or might be exposed to. The credit institution shall evaluate these methods to ensure that they are comprehensive.

Law (2015:1029).



2 a of a credit institution shall provide appropriate

reporting system for employees who want to make notifications

If the suspected breaches of regulations that apply to

the credit institution's activities.



Personal data Act (1998:204) applies to the processing of

personal data in the context of such a reporting system that

referred to in the first subparagraph. Law (2014:982).



Transmitted light



paragraph 3 of the motion of a credit institution shall be organized and operated in

such a way that the Institute's structure, relations with

other companies and position can be assessed. Law (2006:1387).



System for information on depositors and their deposits



3 a of a credit institution's system for handling data on

depositors and their deposits shall be such that

the credit institution shall, without delay, prepare a full

and reliable list of the institution's all

depositors and their respective deposits. Law (2011:830).



Soundness



paragraph 4 of the motion of a credit institution shall also in other respects than the

as stated in paragraphs 1-3 operated in a way that's healthy.



Proportionality



4 a of the provisions of paragraphs 1 to 3 shall apply in proportion to

the nature and extent of the credit institution's activities and

to their complexity. Law (2006:1387).



The responsibilities of the Board



4 b of the Management Board of a credit institution is responsible for ensuring that the requirements of

1-3 paragraphs are met. Law (2006:1387).



Variable remuneration



4 c § variable compensation to an employee whose function

or total replacement level means that he or she may have

a material impact on the risk profile of the credit institution,

not be larger than the fixed annual salary. Law (2014:982).



Guidelines and instructions



§ 5 the Board of Directors of a credit institution shall ensure that there is

written internal guidelines and instructions in the

extent necessary to meet the requirements of 1-3 and 4 (a) §§

and to otherwise control the movement. These guidelines and

instructions shall be evaluated and reviewed regularly.

Law (2006:1387).



Head Office in Sweden



section 6, every credit institution have its head office in Sweden.



Contract for work



section 7 If a credit institution to instruct someone else to perform

any of the services referred to in Chapter 7. paragraph 1, the institution shall

notify the financial supervision authority and submit the assignment agreement.

Such assignments may be given if the



1. the Institute shall be responsible for the activities entrusted to the

the customer,



2. the business operated by the contractor under controlled

and safely secure forms, and



3. the mission does not have such a scale that the Institute cannot

comply with the obligations provided for by this law or other

regulations governing the Institute's activities.



The first subparagraph shall not apply to assignments for someone else to drive

securities operations. In the case of securities operations comes in

rather than the provisions of Chapter 8. section 14 of the Act (2007:528)

securities market. Law (2007:563).



6 a kap. /Kapitlet entry into force: 2016-02-01/recovery plans



Establishing a recovery plan



(1) a credit institution shall draw up a recovery plan and update it if necessary.



Credit institution's Board of Directors will approve the recovery plan.

It should then, at the time the financial supervisory authority determines must be submitted to the supervision authority.



A credit institution which is subject to supervision on a consolidated basis, together with other group companies within the EEA are not subject to the obligation referred to in the first and second subparagraphs.

Law (2015:1029).



The establishment of a business recovery plan



section 2 of the credit institutions that are part of a group that is subject to supervision on a consolidated basis shall be covered by a consolidated recovery plan to be drawn up and updated by the parent company within the EEA. Such credit institutions shall draw up an individualized recovery plan if the FSA decides it. If the credit institution is a part of a cross-border group, should such a decision be taken in accordance with section 8 or 9.



A consolidated recovery plan should identify measures which may be necessary to adopt at the level of the parent company in the EEA and in an individual subsidiaries subject to supervision on a consolidated basis.



The parent company's Board of Directors will approve the plan. It should then, at the time the FSA decides, be submitted to the inspection. For a cross-border group, it shall instead be submitted to the consolidating supervisor. If the FSA is the consolidating supervisor, shall submit the plan to the competent inspection authorities and resolution authorities.



If a parent has failed to fulfil its obligations under this section, the financial supervision authority shall intervene according to chapter 15.

Law (2015:1029).



The requirements of a recovery plan



section 3 of the contents of a recovery plan and a consolidated recovery plan should state that 1. the measures identified could reasonably be expected to lead to a credit institution or group can preserve or restore their financial condition and viability, and



2. the plan and the measures identified in the can reasonably be accomplished quickly and efficiently in case of financial stress and without leading to a serious disruption of the financial system.



A recovery plan and a consolidated recovery plan should contain the additional information shown by regulations issued pursuant to Chapter 16. 1 § 5 or technical standards decided by the European Commission under article 5.10 of the crisis management directive.



The measures identified in a recovery plan and a consolidated recovery plan must not lead to producing significant impediments to restructuring or winding up a credit institution or, where applicable, other group companies covered by the plan. Law (2015:1029).



Material shortcomings or obstacles in a plan, paragraph 4 of the financial supervision authority shall review a recovery plan in order to assess whether it meets the requirements of paragraph 3. The audit shall be made after consultation with the competent authorities of the countries within the EEA where there is a significant branch.



The Swedish national debt Office will be given the opportunity to review the plan in order to identify possible actions in the plan that could have a negative impact on the credit institution's ability to resolution and make recommendations to the financial supervision authority.



How the audit of a consolidated recovery plan for a cross-border group to go to follows from 8 to 11 sections.

The provisions of sections 5 to 7 of the credit institutions shall also apply to parent undertakings within the EEA that are not credit institutions, if the review relates to a business recovery plan.

Law (2015:1029).



paragraph 5 of the financial supervision authority shall inform the credit institution of the outcome of the review.



If the FSA finds significant weaknesses in a recovery plan or significant barriers to implementing the measures contained in the recovery plan, the supervision authority shall inform the credit institution of which material shortcomings or obstacles the Agency identifies and give the institution the opportunity to comment on the assessment. If the credit institution's opinion does not lead to the inspection changes its assessment, inspection, submit to the institution within two months to submit an amended plan that addresses the shortcomings or obstacles that the inspection identified. On request, inspection of the credit institution may decide to extend this period by a further month. Law (2015:1029).



section 6, if a credit institution does not comply with the Authority's order or if the changes made by the credit institution does not obviate the essential flaws or barriers, financial supervisory authority 1. submit to the credit institution to make concrete changes in the recovery plan to eliminate the significant shortcomings or obstacles, or 2. If such changes are not adequately fix the shortcomings or obstacles, submit to the Institute to identify the changes to its business activities, to which the institution can do to eliminate the significant shortcomings or obstacles. Law (2015:1029).



section 7 If the FSA after a notice under section 6 considers that there is no longer significant weaknesses in a recovery plan or significant barriers to implementing the plan, the supervision authority shall inform the credit institution of this.



If, despite an injunction under section 6 are still significant shortcomings in a recovery plan or significant barriers to implementing the plan, the financial supervision authority shall submit to the credit institution to 1. reduce the risk profile of the institution, including liquidity risk,



2. enable the kapitaliseringsåtgärder on time,



3. review the institution's strategy and structure,



4. take the changes in funding strategy in order to strengthen the resilience of core business areas and the critical activities, or



5. take changes in the institution's governance structure.



In assessing what measures are necessary and proportionate, account shall be taken of the seriousness of the deficiencies and obstacles are and the impact that the measures would have on the credit institution's business activities. Law (2015:1029).



Agreements on a consolidated recovery plan for a


cross-border group



section 8 When the FSA is the consolidating supervisor, shall the inspection to ensure that consultation takes place with such competent authorities referred to in article 116 of the solvency directive and the authorities responsible for significant branches.



Within four months of the date on which the financial supervision authority or another coordinating supervisor for a cross-border group has submitted a consolidated recovery plan to the authorities referred to in paragraph 2 of the third paragraph, the Inspectorate to try to reach an agreement with the competent authorities included in the College for the group if



1. the review and assessment of the Group's recovery plan, 2. whether a recovery plan should be drawn up for individual credit institutions or a foreign credit institution included in the group, and 3. the application of the measures referred to in article 6(5) and in crisis management directive to address significant weaknesses in the plan or significant barriers to implementation.



If the authorities agree, the financial supervisory authority in accordance with the agreement take the decisions necessary.

Law (2015:1029).



section 9 If an agreement pursuant to section 8 have not been concluded within four months, the financial supervisory authority acting as coordinating authority decide if 1. the review and assessment of the Group's recovery plan, 2. whether a recovery plan should be drawn up for individual credit institutions in the group which is under the supervision and



3. measures taken by the parent company in the EEA or a credit institution which is subject to supervision must take in order to address significant weaknesses in the plan or significant barriers to implementation.



If the FSA is not coordinating authority, the supervisory authority take a decision pursuant to the first subparagraph 2 and 3 in the case of credit institutions in the group which is under supervision.



When the financial supervision authority makes a decision on consolidated the recovery plan referred to in the first subparagraph 1 and 3, the supervisory authority take into account the views and reservations of the other competent authorities. Law (2015:1029).



section 10 If any of the competent authorities, within four months from the financial supervision authority or another coordinating supervisory authority has forwarded the recovery plan referred to in section 8, first paragraph, has referred the matter to the European banking authority in accordance with article 19 of Regulation (EC) no 1093/2010 of 24 March 2010 establishing a European supervisory authority (European banking authority), amending Decision No 716/2009/EC and repealing Commission decision 2009/78/EC , in wording in accordance with European Parliament and Council regulation 806/2014/EU, Inspectorate defer their decision according to section 9 in a month and await the decision that the European banking authority may take under article 19(3) of that regulation. The FSA should follow a decision in the matter of the European banking authority. If the European banking authority has not taken a decision within one month, the Inspectorate decide according to section 9.



The financial supervision authority may refer a matter to the European banking authority only if it is 1. the assessment of the Group's recovery plan, or



2. the measures referred to in the second subparagraph of paragraph 7 1, 2 or 4.



The FSA may not refer a matter to the European banking authority in accordance with Chapter 13. 6 (b) § after the four-month deadline has expired or an agreement has been reached. Law (2015:1029).



section 11 a decision pursuant to section 8 of the foreign consolidating supervisor after an agreement with the competent authorities or due to the fact that the competent authorities have not agreed within the time periods specified in section 8 applies in Sweden. Law (2015:1029).



6 (b). /Kapitlet entry into force: 2016-02-01/contract for intercompany financial support



Definitions



section 1 of this chapter means



1. financial support: cash loans, the issue of guarantee, surety or a combination of these forms of support, and



2. intercompany financial support: financial support provided by one company to another in the same group as the recipient undertaking meets the conditions for intervention under Chapter 15. paragraph 2 (b). Law (2015:1029).



Who can enter into agreements on intercompany financial support



section 2 of an agreement on intercompany financial support may be concluded between, on the one hand, a parent institution in an EEA country, a parent institution within the EEA, a financial holding company or a mixed financial holding company or a mixed-activity holding company established in the EEA, and, on the other hand, a subsidiary.



A company referred to in the first subparagraph and which satisfy the conditions for intervention under Chapter 15. paragraph 2 (b), shall not enter into a contract for intercompany financial support.

Law (2015:1029).



Regulatory approval of the agreements on financial support



section 3, Before an agreement is concluded, the intercompany financial support, an application for approval of the agreement is made to the Swedish financial supervisory authority, if the inspection is the coordinating supervisor for the group to which the agreement applies.



The financial supervision authority shall promptly provide information on request to the competent authorities of each of the parties to the agreement.



The parent Institute within the EEA is responsible for ensuring that the application is made.

Law (2015:1029).



paragraph 4 of the financial supervision authority shall approve a contract for intercompany financial aid if the aid



1. in significant measure to remedy the financial difficulties of the company receiving it,



2. aims to preserve or restore the financial stability of the group as a whole or in any of the companies within the group, and



3. do not jeopardise the financial stability of one or more countries within the EEA, in particular not in the State where the sponsoring company is located.



In addition, the following requirements must be met with respect to the sponsoring company:



1. It can be assumed that the reimbursement of the aid will be paid and, if it relates to a loan, including principal amount is repaid. If the aid is granted in the form of a guarantee or other form of security, apply the same terms on the debt incurred if the guarantee or security is triggered.



2. The financial assistance given under such conditions that the sponsoring company's interests.



3. Liquidity or solvency of the sponsoring company is not compromised as a result of the provision of financial assistance.



4. The sponsoring company fulfils the requirements regarding own funds and liquidity in the capital adequacy directive as well as the other requirements laid down in article 104(2) of the directive at the time of the financial aid.



5. the aid-giving the company complies with the requirements relating to large exposures.



6. The financial aid does not lead to the requirements set out in 4 or 5 are not met.



7. The possibility of resolution of the sponsoring company is not compromised as a result of the financial assistance.



The financial supervision authority may grant exemptions from the requirements in the second subparagraph of paragraph 4 and 5. Law (2015:1029).



paragraph 5 of the financial supervision authority shall submit any agreement that the inspection is approved, and changes to such agreements, to the national debt. Law (2015:1029).



The approval of contracts for financial support



section 6 before deciding to enter into a contract for intercompany financial support, to the general meeting of shareholders or equivalent body in all undertakings that are parties to the agreement on the intercompany financial support to approve the agreement.

Law (2015:1029).



section 7 a decision under section 6, shall contain an authorization for the Board to decide whether to leave or receive intercompany financial support. Law (2015:1029).



section 8 a decision of the Board of Directors of the sponsoring company about to leave intercompany financial assistance shall contain the following information:



1. the considerations made, 2. the purpose for which the assistance is given, and



3. the aid complies with the requirements laid down in paragraph 4.

Law (2015:1029).



§ 9 the Board of Directors of the benefiting company shall decide on the acceptance of intercompany financial support.

Law (2015:1029).



section 10 of the Board of Directors of a company which is a party to a contract for intercompany financial support shall report annually to the general meeting of shareholders or equivalent bodies on the measures taken in response to the agreement if such support as the general meeting of shareholders or equivalent body.

Law (2015:1029).



Notification concerning the granting of assistance



section 11 Before any intercompany financial support provided to the Board of Directors of the sponsoring company make a notification to the financial supervision authority and the European banking authority.



If the financial supervision authority is not the competent authority of the recipient, to the Board of Directors of the sponsoring company even make a notification referred to in the first subparagraph to the competent authority of the recipient firm.



The notification referred to in the first subparagraph shall also be submitted to the coordinating authority, if the authority is not the competent authority for the aid-giving or for the recipient.



If the sponsoring company has breached its obligations under this section, the financial supervision authority shall intervene according to chapter 15. Law (2015:1029).



section 12 of a notification under section 11 shall include the Board's decision under section 8 and a detailed description of the contract for intercompany financial assistance in question, as well as a


copy of the contract. Law (2015:1029).



paragraph 13 of the financial supervision authority shall make a decision to prohibit, restrict, or authorize an intercompany financial assistance pursuant to a notification under section 11, if the inspection is the competent authority for the sponsoring company. Law (2015:1029).



section 14 of the decision by the Swedish financial supervisory authority to approve, prohibit or limit the financial assistance shall be notified immediately to the coordinating supervisory authority, the competent authority of the recipient firm and the European banking authority. Law (2015:1029).



section 15 Of the financial supervision authority within five working days of the date on which the inspection is received a full notification under section 11 has not taken a decision in accordance with section 13, the aid may be given in accordance with the terms of the notified agreement. Law (2015:1029).



Publication of the agreement



section 16 of the Board of Directors of each company that entered into a contract for intercompany financial support is required to disclose to the company entered into an agreement of this kind, and which are parties to the agreement. The Board shall also publish a general description of the contractual content.



The Board shall at least once a year to update the information published. Law (2015:1029).



Chapter 7. Activities and possession of property



Financial activities



(1) a credit institution may operate only financial activity

and activities that have a natural connection with it.



A credit institution may, in its activities, including



1. borrow funds, for example by receiving deposits

from the public or issuing bonds or other

comparable receivables,



2. leave and pass credit, for example, in the form of

consumer credit and credit against mortgages on real property or

Receivables,



3. participate in funding, for example by acquiring

receivables and leasing of movable property to use (leasing),



4. provide payment services under the Act (2010:751) if

payment services,



5. provide a means of payment,



6. assume the guarantees and make similar commitments,



7. participation in securities issues,



8. provide financial advice,



9. keep the securities,



10. drive letter of credit activity;



11. provide value-Chamber services



12. drive currency trading,



13. operate securities operations under the conditions

provisions of the Act (2007:528) on the securities market,



14. provide credit report under the conditions

provided for in the credit information Act (1973:1173)



15. issue electronic money under the Act (2011:755) if

electronic money, and



16. provide investment services and operate

investment activities relating to such allowances

are not financial instruments and auctioned in accordance

with Commission Regulation (EU) no 1031/2010 of

12 november 2010 on timing, administration and other

aspects of the auctioning of greenhouse gas emission allowances in

accordance with Directive 2003/87/EC

establishing a scheme for greenhouse gas emission allowance trading

within the community. Law (2012:374).



Possession of property in General



section 2 a credit institution may hold only



1. property that is needed to pursue such activities as

referred to in paragraph 1,



2. property acquired to claim protection under

3-8 sections, and



3. investments with the limitations specified in

prudential regulation. Law (2014:982).



Ownership of property in order to protect a claim



3 § to protect a claim, a credit institution



1. at public auction, at a regulated market or a

the corresponding market outside the EEA, on a trading facility as

Chapter 1. 5 § 12 Act (2007:528) securities market or

in case of compulsory sale to buy property that is seized or is

Security for the claim, and



2. If there are grounds to believe that the Institute would otherwise suffer

significant loss, as payment for a claim to take over property

securing of claim or other property.

Law (2007:563).



as stated in paragraph 4 of section 3 does not apply to private equity or share in

parent company. For the acquisition of such shares are provisions in

19. Swedish companies Act (2005:551). What is said in paragraph 3 of the terms of

nor proof of share or supplements to the member bank

or Credit Union. In the case of a savings bank acquisition

of evidence about the contribution to the guarantee fund or Foundation Fund in

the savings bank, the provisions of Chapter 5. first subparagraph of paragraph 7

Savings Bank Act are amended (1987:619). Act (2005:932).



paragraph 5 of in Exchange for property that has been purchased or acquired pursuant to

paragraph 3, a credit institution may acquire shares or interests in a

company formed to manage property or to

continue a business that is run with this.



Have shares acquired under section 3 or under

the first subparagraph, the credit institution may acquire additional

shares in the same company if there is an obvious

risk that the Institute would otherwise suffer loss.



Has shares in a company acquired under section 3

or under the first or second subparagraph, credit institution,

If the company transfers its assets to another company,

Exchange those shares into shares or participations in

the other company.



section 6 of the property that a credit institution has acquired under 3

or § 5 shall be disposed of when it is appropriate to

market conditions. However, the property shall be disposed of at the latest when

It can be done without loss of the Institute. If the property does not

have been sold within three years of the acquisition, the institution may

continue to hold the property only if the financial supervision authority gives

permission for it.



7 § Acquisition of property in order to protect a claim shall be notified

Swedish financial supervisory authority (finansinspektionen).



section 8, a credit institution shall submit to the financial supervision authority each year

provide a separate accounting of property acquired for

protect a claim.



Holdings of shares and participations



9 repealed by law (2014:982).



10 repealed by law (2014:982).



repealed by law 11 (2014:982).



Authorization for acquisition of property in some cases



section 12 of a credit institution may only with the permission of the

The Swedish financial supervisory authority to acquire property for the Institute's

in return represents more than 25 percent of its capital base.

A permit must be obtained prior to the acquisition.



Authorisation shall be granted unless it can be assumed that the acquisition leads

violation of this law or regulations.



Chapter 8. Management of credits and other involvement



Credit check



section 1 Before a credit institution decides to grant a credit to

It examined the possibility that the obligations arising from the

the credit agreement cannot be fulfilled. The institution may grant a

credit only if the obligations are reasonably expected to

be completed. Law (2010:1853).



Information for decision-making



section 2 of a credit institution's credit assessment shall be organised

so that anyone who makes a decision in a case is sufficiently

basis for assessing risk in granting credit.



Documentation



paragraph 3, a credit institution's credit decisions should be documented so that

basis are reported and to credit the management

otherwise can be followed.



Kreditliknande engagement



paragraph 4 by way of derogation from paragraphs 1 to 3 of credit assessment, decision support

and documentation shall also apply to kreditliknande

commitment.



The provision of services to the bias circuit



§ 5, a credit institution may not enter into contracts for the services of other

conditions than those to which the institution would normally or be part

other agreements on terms that are not commercially motivated with

or for the benefit of



1. Member of the Board of Directors,



2. delegate managerial responsibilities which alone or in combination with

someone else can determine credit matter otherwise shall be decided

of the Board,



3. an employee who holds a senior position within the Institute;



4. other share owners than the State with a holding as

equivalent to at least three per cent of the total capital,



5. spouse or partner of person referred to under 1-4, or



6. legal person in which the person referred to under 1-5

has a substantial economic interest as a shareholder

or member.



A member bank must not enter into such agreements as referred to in

the first paragraph with or for the benefit of the lay auditor in

the Bank.



The FSA considers whether a delegate or an employee has

such a leadership position referred to in the first subparagraph 2 and 3.



section 6 of the institution's Board of Directors shall examine the matters referred to in

§ 5. It must be on a list to record data about the

agreement has been reached.



Chapter 9. Own funds size, minors, shipwrecks and medium



paragraph 1 of the rules on capital adequacy and large exposures

see European Parliament and Council Regulation (EC) no

575/2013, the law (2014:968) if special supervision of

credit institutions and securities companies and the law (2014:966) on

capital buffers. Law (2014:982).



section 2 of A member bank or a credit market company as under 3

Cape. the second subparagraph of paragraph 7 has been granted to begin their movement with

a lower initial capital than equivalent of EUR 5 million,

during the operating time have a capital base that is less than the

amount but equal to at least



a) two million euro for the balance sheet total exceeds one hundred

but not two hundred million kroons or, where the institution has its

accounting in euros, twelve but not twenty-four million,



b) three million euros if the balance sheet total exceeding two hundred

but not three hundred million kroons or, where the institution has its

accounting in euros, twenty-four but not thirty-six million

euro,



c) four million euros on the balance sheet total exceeds


three hundred but not four hundred million kroons or, if

the Institute has its accounts in euros, thirty-six but not

forty-eight million euros.



If the balance sheet total exceeds four hundred million

or, if the institution has its accounts in euro, sixty

million euros, the institution shall have own funds equivalent

at least five million euros.



The size of own funds referred to in the first and second subparagraphs shall

calculated according to the exchange rate prevailing at the decision authorising the

According to Chapter 3.



3 repealed by law (2014:982).



Bratt system



section 4 of the Bratt system or other evidence, that a bank will issue about

credit on account, shall be addressed to the specific person and

indicate that the transfer may be made only to certain

person and to transfer should be notified by the Bank.



The Bank may not meet with reservations on the right of the Bank to rely on

payment to anyone other than right holders of shipwrecks.



In terms of the search warrant and the killing of a lost Bratt system applies

Special provisions. Act (2004:444).



Minors, medium



§ 5 If the proof referred to in Chapter 9. the second subparagraph of paragraph 8

parental code has been submitted shall be recorded in a manner

that makes the relationship known within the Bank or

credit market company. Note of the corresponding kind shall

be made if restrictions on the



1. the right of parents to dispose of deposited funds resulting from the

Chapter 13. 8 § parental code or of decisions taken

under Chapter 13. 19 § parental code and



2. your guardians, trustees and good men's right to dispose of

funds resulting from the decisions taken pursuant to chapter 14. section 21

parental code. Law (2008:913).



10 Cape. Special corporate law provisions for

banking companies



section 1 of the regulations of the banking company in terms of stock company

generally, unless otherwise provided for by this law or is

legally required. References in the Swedish companies act

(2005:551) to provisions of that law shall

cases relate to the provisions of this Act that apply instead

of or in addition to the provisions of the companies act.



In the case of banking companies, as provided for

The Swedish companies registration office in the following provisions shall apply instead

The financial supervision authority:



1. Chapter 8. 9 and 30 § § and § 37, second subparagraph of the Swedish companies Act,

and



2. Chapter 23. 21 a of the companies act. Law (2014:557).



Share capital



section 2 of The banking companies share capital shall be determined taking into account

to the planned operating scale and nature. Act (2005:932).



The subscription of shares



§ 3 If the subscription of shares means that someone who has not

tested in accordance with Chapter 3. 2 paragraph 3 as well as others and

third paragraphs will have a qualifying holding in the

the banking company, the company may not be formed without such a

review of share the Subscriber is made. If he is at the trial

not considered appropriate, the company may also not be formed.

Law (2009:361).



General meeting of shareholders



4 § in addition to the provisions on disclosure and transparency in 7

Cape. 32 and 36 of the Swedish companies Act (2005:551),

information may be disclosed only if it can be done without significant

inconvenience to any individual person.



The provisions of Chapter 7. 34 and 35 of the companies act shall

apply also when the Board has determined that a piece of information that

has been requested in accordance with Chapter 7. 32 of the Swedish companies act cannot be provided

to shareholders without significant inconvenience to any individual

person. Act (2005:932).



The company's management



paragraph 5 of A banking company shall have a Board of Directors with at least three

members. The majority of the members shall be persons

are not employees of the Bank or in undertakings in an

Group where the Bank is the parent company. Act (2005:932).



5 a § the obligation under Chapter 8. 46 (a) of the Swedish companies act

(2005:551) of the Board of Directors of a public company to annually

establish written rules of procedure for its work concerns

also for the Board of Directors of a banking company that is a private

joint-stock company. The same applies to the obligation in accordance with Chapter 8. 46 (b) §

the same law for the Board of Directors of a public company that in

written instructions specifying the Division of labour between

corporate bodies.



The Chairman of the Board shall see to it that the Board fulfils the

information listed in this section. Law (2014:557).



clause 6 of a banking company, the Management Board shall appoint an Executive

Director. The company's Managing Director shall not be

Chairman of the Board. Act (2005:932).



section 7 an authorization to represent the company and to take out its

company in accordance with Chapter 8. paragraph 37 of the Swedish companies act

(2005:551) may only be submitted to two or more persons in

compound. No other restriction may be registered.

Act (2005:932).



section 8 the President of the general meeting shall be held before the Board elections

in a banking company to leave the task to the AGM on the

Mission the elections case holds in other companies.

Act (2005:932).



8 a of The who is a member of the Board of Directors for a banking company

or is its Chief Executive Officer, in addition to this mission

have the number of assignments as a Director or Executive

Director of other companies that are deemed appropriate to

the circumstances of the case, as well as to the nature,

scale and complexity of the company's operations.



If a banking companies are significant in terms of size, internal

organisation and the nature, scope and

complexity, a Board member or the managing

Director only hold one of the following combinations of

Mission:



1. an assignment as Executive Director and two missions

Member of the Board, or



2. four missions as a Board member.

Law (2014:982).



8 (b) for the purposes of section 8 a of the second paragraph, the



1. missions within the same group of companies or in companies where

the banking company has a qualifying holding is counted as a

only mission, and



2. Mission in activities and organizations that do not

mainly has a commercial purpose shall not be taken into account.



If the Board Member representing the Swedish Government does not apply

8 a of the second paragraph.



A member of the Board of directors or Chief Executive of a

banking companies that are significant may, with the permission of the

The Swedish financial supervisory authority, have another mission that

Member of the Board of Directors in addition to those specified in paragraph 8 (a) (1)

or 2. Law (2014:982).



8 (c) § It is member of the Board of directors or Executive Director

in a banking company shall allocate sufficient time to

able to carry out its mission. Law (2014:982).



Revision



§ 9 A banking company shall have at least one auditor. At least one

auditor appointed by the general meeting of the shareholders shall be authorized

Auditor.



If the general meeting has not designated a chartered accountant, is

the provisions relating to the appointment of the auditor of the Company Administration's 9

Cape. 25 and 27 § of the Swedish companies Act (2005:551).

Team (2013:743).



section 10 in addition to the provisions on disclosure in relation to

the general meeting of shareholders in Chapter 9. 45 § and 10 Cape. paragraphs 17 and 22

Swedish companies Act (2005:551), information may be provided

only if it can be done without significant inconvenience to any individual

person. Act (2005:932).



section 11 of Chapter 13. section 10 provides for the audit and special

Reviewer's reporting obligations to the financial supervision authority.

Act (2005:932).



Own stock as collateral



section 12 of The banking companies may receive shares or shares in

its parent company as a pawn, if those shares represent a minor portion

of the shares given as collateral for a loan.

Act (2005:932).



12 a of for the purposes of Chapter 9. section 17 and 10. 10 §

Swedish companies Act (2005:551) on conflict of interest for Auditors and

lay auditor shall be deemed banking company limited liability company

referred to in Chapter 9. 13 or 14 of the same law. Law (2006:405).



Reduction of the share capital, etc.



paragraph 13 of the reduction amount Shall be used wholly or partly for

purposes of Chapter 20. Article 1, first paragraph (2) or (3)

Swedish companies Act (2005:551), the banking company not

enforce the reduction decision without permission from the General

Court.



The financial supervision authority may allow the reduction of the share capital

may be made without the permission of the Court, if the banking company

at the same time as the reduction measures mean that neither the

the company restricted shareholders ' equity or its share capital decreases

as a result of the decision on the reduction. Act (2005:932).



section 14 instead of the provisions of Chapter 20. 24-29 § §

Swedish companies Act (2005:551), the provisions of this

paragraph shall apply.



Permit referred to in section 13 shall be submitted not later than two months after the

that reduction decision has been registered. A proof of

registration shall accompany the application.



The Court shall, without delay, obtain FSA

opinion if and to what extent this reduction can

impact on depositors ' right. If the Court is given

the utterance content finds that the reduction should not be

executed, the application was immediately rejected. In other cases,

the Court call the company's creditors and submit to those who want to

oppose the application to a specific day in writing notify

This in court. The Court shall not, however, call

creditors whose claims relating to a claim for wages, salaries, pensions

or other compensation covered by the wage guarantee pursuant to

the wage guarantee Act (1992:497). In the notice shall specify

to anyone who has not made a notification under this section

shall be deemed to have accepted the application. In the notice, a

brief summary of the opinion of the inspection shall be entered.

The Court shall ensure that notice promptly announced in Post-

and home Magazines.

Authorisation shall be given, if none of the creditors who have been called

oppose the application, or if it is shown that the creditors who

has opposed the application has received payment in full or has


adequate security for their claims. To a depositor

oppose the application does not preclude, if

Inspectorate's opinion provides a basis to give permission.

Act (2005:932).



section 15 instead of 20. 30 of the Swedish companies Act (2005:551)

the provisions of this paragraph shall apply.



During the three years following the registration of the decision on the reduction of

share capital for loss compensation, profits do not

be decided without the permission of the Court. Permit needed

unless the share capital after or in conjunction with

reduction decision has been increased by at least the reduction amount. In

ask if the permission of the Court applies section 14 apply mutatis mutandis.

Act (2005:932).



section 16 rather than 20. 35 of the Swedish companies Act (2005:551)

the provisions of this paragraph shall apply.



Reduction of the reserve fund may be made for



1. coverage of the loss, if there is no unrestricted equity

corresponding to loss,



2. increase of the share capital through a bonus issue or share issue

of the shares, and



3. repayment to the shareholders or other purposes, if

General courts pursuant to section 14 of the authorising

the reduction. Act (2005:932).



Loans from the company to the shareholders and others.



section 17 in place of the provisions in chapter 21. the companies act

(2005:551), the provisions of this section and in Chapter 8.

§ 5.



A banking company shall give advance, leaving the loan or ask

Security for loans in order to debtor to acquire shares in

company or the parent company in the same group, only if the

then there is full coverage of the equity. At

the calculation of whether there is full coverage for the own

capital shall cash advances and loans referred to in the first sentence

be treated as receivables without value as well as collateral under

the first sentence is treated as the company's debt.

Even if there is no impediment pursuant to the second subparagraph,

advances, loans or collateral is provided only to the extent that it

appears to be justifiable with regard to



1. the requirements of the nature, scope and risks

on the size of the equity, and



2. the company's need for consolidation, liquidity and position in

otherwise. Act (2005:932).



Fusion



section 18 of The banking companies may be transferring company at a

Fusion only about another banking company, or an equivalent

legal resident of another State within the EEA than

Sweden is the acquiring company. Law (2009:711).



§ 19 At fusion with a banking company shall not apply Chapter 23.

19-21, 22-24 and 45 of the Swedish companies Act (2005:551). Instead

apply 20 to 22 of this chapter. In paragraphs 24 and 25 are

specific provisions relating to the merger by absorption of wholly owned

subsidiary. Law (2009:711).



section 20 when the merger has taken effect in all companies,

should both devolution as takeover companies apply for

permission to execute the plan. In a cross-border

Fusion, the application shall be made by the Swedish company

participating in the merger. The application shall be made in

The Swedish financial supervisory authority.

At the merger by combination, companies

In addition, apply for a licence pursuant to Chapter 3. section 2 and

approval of the articles of Association in accordance with Chapter 3. section 3 of the

acquiring company. At the cross-border merger terms

This only if the acquiring company shall be domiciled in

Sweden.



The application referred to in the first subparagraph shall be submitted within one month after

the merger plan has taken effect in all companies

and, if the merger plan has been registered in accordance with Chapter 23. section 14 of the

the first subparagraph the Swedish companies Act (2005:551), the last two years

After the merger plan published pursuant to Chapter 27. paragraph 3 of the

the companies act.



The financial supervision authority shall inform the registration office and

The Swedish tax authorities concerning the application of the first subparagraph.

The financial supervision authority shall also inform the Office if

final decision has been announced on the occasion of the

such applications. Team (2013:455).



section 21 during the processing of an application for authorisation to effect

a merger plan should be examined to the companies ' creditors

ensured by collateral, if such protection

necessary, having regard to the merging companies financial

conditions and if the creditors do not already have such a

Security. Act (2005:932).



section 22 of an application under section 20 shall be rejected if the



1. merger not approved properly or

whose content is contrary to law or regulation

or to the articles of Association,



2. the merger has been prohibited under the Competition Act (2008:579)

or pursuant to Council Regulation (EC) No 139/2004 of 20

January 2004 on the control of concentrations between undertakings or

review of the merger is in progress under the competition act or the

the said regulation,



3. in combination, revisorsyttrandena according to Chapter 23. section 11 of the

Swedish companies Act (2005:551) does not indicate that the transferor

the companies ' total fair value for the acquiring

the company is not less than the share capital thereof;



4. companies ' creditors have not secured such

by collateral referred to in section 21 or the merging

the companies ' financial conditions in general are such that

the merger cannot be regarded as compatible with the depositors ' or other

the interests of creditors, or



5. it is justified in the public interest.



If the application is rejected on the ground that the trial

under the competition act or the Council Regulation (EC) no

139/2004 and the trial is likely to be completed within a short period of time,

must state the question in abeyance for a maximum period of six

months. Law (2009:711).



section 23 instead of the prescribed in Chapter 23. section 25 of the other

subparagraph the Swedish companies Act (2005:551) on the date of notification

of merger for registration, an application shall be made within two

months after the FSA's authorisation to

the effect of merger became final.

Team (2013:455).



section 24 of the merger by absorption of a subsidiary may be

even if the subsidiary is property which the banking company

not acquire under this Act. Such property must

disposed of within one year from registration. If there is

specific reasons, the FSA prolong this period.

Act (2005:932).



section 25 by the absorption of a subsidiary shall not apply

Chapter 23. 32 and 33 § § the Swedish companies Act (2005:551). Instead

to what is said in this paragraph.



The parent company shall apply for an authorisation to effect

the merger plan. The application must be filed within one month after the

the merger plan has taken effect in the parent company and, if

the merger plan has been registered in accordance with Chapter 23. section 30

Companies Act, no later than two years after the statement that

the plan has been registered has been published. Questions about such

condition is tested by the Swedish financial supervisory authority.



In the case of such a case, the provisions of 21 and

22 sections in applicable parts. What about transferring company

to refer to subsidiaries and to what is being said about the takeover company

refers to the parent company.



The financial supervision authority shall inform the registration office on applications

According to the second paragraph, and if the final decision

issued in response to such requests. The Swedish companies Registration Office

should after such notification register state

According to Chapter 23. 34 of the Swedish companies act. Team (2013:455).



25 a paragraph instead of Chapter 23. 50 section

Swedish companies Act (2005:551), the following applies. The Special

the financial statement shall include a balance sheet and a

profit and loss account. When these documents are drawn up shall

the provisions of the Act (1995:1559) on the annual accounts of

credit institutions and securities companies shall apply. The Special

financial statements must also include some additional information and

specifications. Thereby concerning Chapter 6. 5 and 8 sections

the accounting Act (1999:1078) mutatis mutandis. Financial statements must

signed and filed with the Registrar within a

month from the end of the period to which the accounts relate.

Law (2010:1530).



25 (b) § instead of regulations in Chapter 23. 52 § third

subparagraph the Swedish companies Act (2005:551) about bringing a case

the following. In addition to that provided for in Chapter 7. paragraph 51

subparagraph, the companies act and chapter 23. paragraph 52

the same Act may not be brought after the

The financial supervision authority by a decision which has become final

has given permission to execute the merger plan under

20-22 sections. Team (2013:455).



Sharing



26 § When a banking companies involved in a division shall apply

§§ 27-30.



A banking company shall not through sharing transfer operations

that may only be operated after a permit or registration as a

companies that are not authorized or is not registered.

Act (2005:932).



section 27 A banking companies do not need to notify its known

creditors under Chapter 24. 21 of the Swedish companies Act (2005:551).

Act (2005:932).



section 28 of the companies registration office shall not call a bank companies

creditors under Chapter 24. 24 of the Swedish companies Act (2005:551). In

Instead, the Agency obtain an opinion from

The Swedish financial supervisory authority. The opinion shall state whether



1. bank creditors in providing a satisfactory

security, if such protection is needed with regard to the

participating companies ' financial conditions and the creditors

do not already have such security, and



2. the participating companies ' financial conditions in general are

such that the split may be regarded as compatible with the depositor, or

the interests of other creditors. Act (2005:932).



section 29 When the FSA come in with its opinion and the

period within which the creditors may object to the application pursuant to 24

Cape. section 25 of the companies Act (2005:551) has expired, the

Bolagsverket refer the case to the District Court of the place where the


the Board of the merged company has its registered office.

Act (2005:932).



section 30 instead of the rule in Chapter 24. section 26 of the companies act

(2005:551) apply to an ordinary court shall reject an application for

permission to execute the draft terms of Division if



1. it is not the opinion of the financial supervision authority, it can be shown that



(a) the secured bank creditors) in such

by collateral referred to in section 28 (1);



(b)) the participating companies ' financial conditions in general are

such that the split may be regarded as compatible with the depositor, or

the interests of other creditors, and



2. it does not appear that the creditors who have opposed the application

has a full payment or have adequate security for their

receivables.



To any of the bank in creditors opposes the application

does not imply that the application shall be refused, if the FSA

opinion provides a basis to give permission.



If the Court considers it necessary, it may request that

The FSA will complement its opinion. Act (2005:932).



Liquidation



section 31/expires U: 2016-02-01-Except in the cases referred to in chapter 25. section 11 of the

Swedish companies Act (2005:551), the Swedish companies registration office may decide that a

banking company to go into liquidation if the licence to operate

banking has been revoked, but that the company, rather than a

permission to operate other licensed financial

movement. The decision shall be taken as soon as practically

possible, but not later than the day following that on which the application for

the liquidation came in to Bolagsverket. The decision on liquidation

effective immediately.



In proceedings relating to the winding-up of companies whose authorisation to

banking has been revoked, but that the company instead

a licence to operate other licensed financial

the motion, to 25. section 24 of the companies act shall not apply.

Team (2013:165).



the entry into force of section 31/in: 2016-02-01-Except in the cases referred to in chapter 25. 11 of the Swedish companies Act (2005:551), the Swedish companies registration office may decide that a banking company shall go into liquidation on the State banking has been revoked but the company instead obtained permission to drive other licensed financial movement. The decision shall be taken as soon as practicable, but not later than the day following that on which the application for liquidation came in to Bolagsverket. The decision on liquidation effective immediately.



In proceedings relating to the winding-up of companies whose licences have been revoked banking without the company instead to push other licensed financial movement, 25. section 24 of the companies act shall not apply.



The provisions of chapter 25. 10 a of the companies act shall apply to the General Board's decision pursuant to the first subparagraph.

Law (2015:1029).



section 32 for the purposes of chapter 25. section 11 of the companies act

(2005:551), what it says in the first paragraph 2 of Chapter 8.

section 3(1) and paragraph 16 of the annual accounts Act (1995:1554)

rather than refer to Chapter 8. 5 and 8 of the Act (1995:1559) if

annual accounts for credit institutions and securities companies.

Act (2005:932).



section 33 application for a winding-up of a banking company under section 31

This chapter or chapter 25. 11 or 17 of the Swedish companies act

(2005:551) may also be made by the financial supervision authority.

Act (2005:932).



34 § in addition to what is provided in chapter 25. 45 of the Swedish companies act

(2005:551) comes to a decision about liquidation shall

stop and bank in activity resumed may not

is taken, if the company's licence to operate banking business has

been revoked. Act (2005:932).



Firma



35 § A banking companies trade shall contain the word bank.

Act (2005:932).



36 § A banking company that has taken over a savings bank operating

upon conversion in accordance with Chapter 8. Savings Bank Act are amended (1987:619) may,

with the permission of the financial supervision authority, using the word savings bank in

his firm. The same applies to a banking company which later

has assumed such a movement. Act (2005:932).



Damages



37 § what in chapter 29. 1-3 of the Swedish companies Act (2005:551)

provides for liability for breach of the

provisions applicable to banking companies even in the event of a breach

by this Act, Regulation (EC) no 575/2013, the law (2014:968)

If the special supervision of credit institutions and securities companies

and the law (2014:966) on capital buffers. Law (2014:982).



Special provisions for a European company



38 § companies registration office shall issue the certificate referred to in

Article 25(2) of Council Regulation (EC) No 2157/2001 of 8

October 2001 on the Statute for a European company (SE), when

a decision has been issued in accordance with paragraphs 20 to 22 or section 25 and

the decision has become final. Law (2009:711).



section 39 When a European company authorized to operate

banking intends to move its headquarters from Sweden to a

other State, does not apply 10-15 § § the Act (2004:575) if

a European company. Instead, apply 40-42 of this chapter.

Act (2005:932).



section 40 Of the general meeting on the basis of article 8 of the regulation

has decided to the registered office will be moved to a different

State, the company shall apply for permission to move.

Questions about such a condition is tested by the Swedish financial supervisory authority.



The application must be submitted within one month of the decision of the general meeting

about moving.



The application shall be accompanied by the following documents:



1. a copy of the minutes of the general meeting in which the decision

If the transfer was made,



2. a copy of the proposal on the transfer, and



3. a copy of the statement referred to in article 8(3) of

SEE regulation.



If the company has not annexed the documents referred to in the third

paragraph to the application, or if there are any other obstacles

to take up the application, the company shall be submitted to the

to give its opinion within a time or remedy the shortage. If

the company does not do this, the application shall be rejected.



The financial supervision authority shall inform the registration office and

The Swedish tax authorities concerning the application of the first subparagraph.

The financial supervision authority shall also inform the Office if

final decision has been announced on the occasion of the

such applications. Team (2013:455).



40 a of for the duration of the FSA's handling of

an application under section 40 is under way, the tax office may decide to

the company for a period of time not exceeding twelve months must not be

moving its headquarters to another State. Time may be extended if the

There are special reasons, but only three months at a time.

As long as the tax agency's decision applies, the FSA

the processing of the application under section 40 of the vila.



The Revenue Commissioners may decide in accordance with the first paragraph only if



1. it is justified in the public interest,



2. the authority has decided on the audit of the company, and



3. There is reason to believe that the audit would be complicated

considerably by a movement of the seat. Team (2013:455).



paragraph 41 Permits for the transfer of the registered office shall be notified of



1. the company's creditors receive a satisfactory security,

If such protection is needed, taking into account the company's financial

conditions and the creditors do not already have such security,



2. the company's financial conditions in general are such that

the move can be regarded as compatible with the depositors ' or other

the interests of creditors, and



3. There are no barriers to migration, as referred to in article 8.15 in

SEE regulation. Act (2005:932).



42 § companies registration office shall issue the certificate referred to in

Article 8(8) of the SE regulation when the decision has been communicated in accordance with

section 41 and the decision has become final. Act (2005:932).



43 § in the case of the European company with such management systems

referred to in articles 39-42 in the SE Regulation (two-tier

organized the European company), what is said in the following

provisions of this Act, if a bank or the companies Board of Directors

its members apply to the Supervisory Board or its

Members:



Chapter 1. section 12 of the notice;



Chapter 3. 2 section 4 of the management review,



Chapter 8. 5 paragraph 1 if the contract for services with, or to

the benefit of the Member of the Board of Directors,



10 Cape. paragraph 4(2) if disclosure to the general meeting,



10 Cape. paragraph 5, second sentence, if the composition of the Board,



10 Cape. section 8 if assignments in other companies,



Chapter 13. section 12 of the right for the FSA to convene

the Board of Directors and be present at such meeting and participate in the

the deliberations, as well as



15. section 2 of the revocations of authorizations.



The second paragraph of section 16 of the Act and section 22 (2004:575) on the European company

It appears that the provisions referred to in the first subparagraph of

the Board or its members shall also apply to a

the European company management or administrative body, or its

members. Law (2006:612).



11 kap. Special corporate law provisions for

credit market companies



§ 1 The which according to Chapter 10 apply to banking companies shall also

apply for credit market companies, except provisions on fusion in

section 18, on the winding-up in sections 31 to 34 and 35 and about firm 36 sections.



The provisions relating to the merger of 10 Cape. 19-25 (b) § § apply only at

fusion between a credit market company and another company, and

only if a bank is not taking over companies. Matters relating to the

permit under 20, 25 or 40 § review by

The Swedish financial supervisory authority. Law (2009:711).



section 2 of the application for the winding up of a credit market company as 25

Cape. 11 or 17 of the Swedish companies Act (2005:551) may also be made

by the Swedish financial supervisory authority. Act (2005:932).



12 Cape. Special corporate law provisions for

credit unions



section 1 Of the regulations applies for credit unions

economic associations in General, subject to

by this Act or is legally required. References in

Act (1987:667) on economic associations to provisions in


the same law shall, where appropriate, refer to the provisions in

This law that apply instead of or in addition to

provisions of the law on cooperative societies.



The provisions of the Swedish companies registration office in Chapter 12. section 13 of the Act on

economic associations shall, in the case of

credit unions, rather than apply to the financial supervision authority.

Law (2009:711).



1 a section/entry into force: 07/01/2016

The rules on investing members of Act (1987:667) about cooperative societies do not apply to credit unions. Law (2016:117).



Start-up capital



section 2 of the actions of a credit union shall always

carried out in cash.



The Association's leadership



section 3 of the majority of the members of a Credit Union

Board shall be persons who are not employees of the Association

or in the companies included in a group where the Association is

the parent company.



4 § in a credit market Association, the Management Board shall appoint a

Executive Director. The Association's Executive Director,

not be Chairman of the Board.



5 § right to take out a credit union firm may

be exercised only by two or more persons jointly, unless the

subject to the provisions of Chapter 6. section 12 of the Act (1987:667)

If economic associations. No other restriction may

registered.



section 6 of the general meeting Chairman shall before the Board election

place in a credit market Association provide information to

the meeting of the mission on which the choice applies in other

companies.



6 a of The who is a member of the Board of Directors of a

Credit Union or its Executive Director

get on top of this mission have the number of missions

Member of the Board of directors or the Managing Director in other corporations

as deemed appropriate in the circumstances of the

individual case as well as to the nature, scale and

the complexity of the Association's activities.



If a Credit Union is significant in terms of size,

internal organisation and the nature, scope and

complexity, a Board member or the managing

Director only hold one of the following combinations of

Mission:



1. an assignment as Executive Director and two missions

Member of the Board, or



2. four missions as a Board member.

Law (2014:982).



6 (b) for the purposes of section 6 a of the second paragraph, the



1. missions within the same group of companies or in companies where

credit market Association has a qualifying holding is counted

as a single mission, and



2. Mission in activities and organizations that do not

mainly has a commercial purpose shall not be taken into account.



If the Board Member representing the Swedish State, the

No 6 a of the second paragraph.



A member of the Board of directors or Chief Executive of a

credit market compound that is significant, condition

by the Swedish financial supervisory authority, have another mission that

Member of the Board of Directors in addition to those mentioned in paragraph 6 (a) 1

or 2. Law (2014:982).



6 (c) § It is member of the Board of directors or Executive Director

in a credit market Association shall devote sufficient time

to be able to carry out its mission. Law (2014:982).



General meeting



section 7/expires U: 2016-07-01/

In addition to the provisions on disclosure in Chapter 7. section 11 of the

first subparagraph, Act (1987:667) on economic associations apply

that information may be disclosed only if it can be done without significant

inconvenience to the individual.



The provisions of Chapter 7. the third paragraph of section 11 of the law on financial

associations shall apply also when the Board found that a

information has been requested in accordance with Chapter 7. section 11 of the first and second

the paragraphs that law cannot be left to the Member without noticeable

inconvenience to the individual. Act (2004:444).



section 7/entry into force: 07/01/2016

In addition to the provisions on disclosure in Chapter 7.

section 28 of the Act (1987:667) on economic associations in information may be provided only if it can be done without significant inconvenience to any individual.



The provisions of Chapter 7. 30 and 31 of the law on cooperative societies shall apply also when the Board has determined that a piece of information that has been requested in accordance with Chapter 7. 28 and 29 of the same Act cannot be provided to a member without significant inconvenience to any individual. Law (2016:117).



7 a §/expires U: 2016-07-01/

In place of that provided for in Chapter 7. section 17 of the fifth

the first sentence of the law (1987:667) on economic

associations to take legal action, the following applies. In addition to the

provided for in Chapter 7. the second subparagraph of paragraph 17 of the law on financial

unions may not be brought after the

The financial supervision authority by a decision which has become final

has given permission to execute the merger plan under 14 –

16 of this chapter. Law (2009:711).



7 a section/entry into force: 07/01/2016

In place of that provided for in Chapter 7. the first sentence of the third paragraph of section 44 law (1987:667) on economic associations that bring an action, the following applies. In addition to that provided for in Chapter 7. 44 of the law on cooperative societies may not be brought after the financial supervisory authority, a decision that has a legal effect has given the permission to execute the merger plan under sections 14-16 of this chapter. Law (2016:117).



Revision



section 8 in a credit union shall have at least one auditor elected

of the general meeting.



9 § only those who are authorized or approved auditor may be

an auditor of a Credit Union.



At least one auditor appointed by the general meeting shall be authorized

Auditor. Team (2013:231).



9 a of for the purposes of Chapter 8. section 7 of the Act (1987:667) if

economic associations about the disqualification of auditor shall

credit unions are regarded as compounds referred to in 8

Cape. paragraph 5 of the same law the first or third paragraph. Law (2006:405).



section 10 in addition to the provisions on disclosure in Chapter 8.

section 16 of the Act (1987:667) on economic associations in

information may be disclosed only if it can be done without significant

inconvenience to the individual.



section 11 of Chapter 13. section 10 contains provisions on auditor and

specific reviewers ' reporting obligations to

The Swedish financial supervisory authority.



Liquidation



section 12 of the application for the liquidation of a Credit Union under

11 kap. 3, 4 or 4 a of the Act (1987:667) on economic

compounds may also be made by the financial supervision authority.



Fusion



section 13 by fusion with a credit union shall not apply

12 Cape. 10-12, 14-16 and 35 § § the Act (1987:667) on economic

compounds. Instead apply 14 to 16 of this chapter. When

the merger means a Credit Union and a wholly-owned

daughter stock company applies 14 – 16 §§ mutatis mutandis. What

provided where about surrendering compound should instead refer to

daughter company. Law (2009:711).



section 14 If the merger plan has taken effect in all

associations, as well as being acquired takeover Coalition

apply for the permission to execute the plan. At a

cross-border merger, the application shall be made by the

Swedish unions taking part in the merger. The application shall be made

the Swedish financial supervisory authority.



At the merger by combination, unions also apply

If the condition referred to in Chapter 3. 2 § and approval of the statutes

According to Chapter 3. section 3 of the takeover. At

cross-border merger, this applies only if the

inheriting the Association should have its habitual residence in Sweden.



The application referred to in the first subparagraph shall be submitted within one month after

the merger plan is valid for all societies and last

two years after the registration of the plan have been published

According to chapter 15. section 2 of the Act (1987:667) on economic associations.



The financial supervision authority shall inform the registration office and

The Swedish tax authorities concerning the application of the first subparagraph.

The financial supervision authority shall also inform the Office if

final decision has been announced on the occasion of the

such applications. Law (2009:711).



15 § in the processing of an application for authorisation to

effect a merger plan to the financial supervision authority try to

unions, creditors receive a satisfactory

security, if such protection is needed with regard to the

the merging unions ' financial circumstances and if

the creditors do not already have such security.

Law (2009:711).



section 16 of the financial supervision authority shall refuse an application under section 14 of about



1. merger not approved properly or

whose content is contrary to law or regulation

or against the bylaws,



2. the merger has been prohibited under the Competition Act (2008:579)

or pursuant to Council Regulation (EC) No 139/2004 of 20

January 2004 on the control of concentrations between undertakings or

review of the merger is in progress under the competition act or the

the said regulation,



3. unions, creditors have not secured such

by collateral referred to in section 15 or the merging

the clubs ' financial situation is such that

the merger cannot be regarded as compatible with the depositors ' or other

the interests of creditors, or



4. it is justified in the public interest.



If the application is rejected on the ground that the trial

under the competition act or the Council Regulation (EC) no

139/2004 and the trial is likely to be completed within a short period of time,

the FSA may decide to permit the issue to rest

for a maximum period of six months. Law (2009:711).



section 17 instead of as provided in Chapter 12. section 17 of the other

law (1987:667) on economic associations of

the date of notification of the merger for registration shall

notification shall be made not later than two months from the

FSA authorisation to effect the merger plan

has become final. Law (2009:711).



section 18 instead of 12. second paragraph of section 40 of the Act (1987:667)


If economic unions, the following applies. The Special

the financial statement shall include a balance sheet and a

profit and loss account. When these documents are drawn up shall

the provisions of the Act (1995:1559) on the annual accounts of

credit institutions and securities companies shall apply. The Special

financial statements must also include some additional information and

specifications. Thereby concerning Chapter 6. 5 and 8 sections

the accounting Act (1999:1078) mutatis mutandis. Financial statements must

signed and filed with the Registrar within a

month from the end of the period to which the accounts relate.

Law (2010:1530).



section 19 of the Fusion between a Credit Union and a wholly-owned

daughter company limited by shares may take place even if the daughter company

are the property of credit market Association may not acquire

According to this law. Such property must be sold within one year

from the registration. If there are special reasons,

The financial supervision authority may extend this time limit. Law (2009:711).



Damages



20 § what is in chapter 13. 1-3 of the law (1987:667) on economic

unions provides for liability for breach of the

the law, the applicable law concerning the annual accounts and of the statutes

concerns regarding the credit market compounds even at

violation of this law, no 575/2013, the law

(2014:968) if special supervision of credit institutions and

securities companies and the law (2014:966) on capital buffers.

Law (2014:982).



Special provisions for the European cooperative



section 21 of the terms of protection of creditors to a

credit market Association, which is involved in the formation of a

the European cooperatives by fusion, the provisions of §§ 14-16

If permission to execute a merger plan is applied.

Law (2009:711).



section 22 of the companies registration office shall issue the certificate referred to in

Article 29(2) of Council Regulation (EC) No 1435/2003 of 22

July 2003 on the Statute for a European cooperative society

(SCE) (SCE), where a decision has

granted in accordance with paragraphs 14 to 16 and the decision has become final.

Law (2009:711).



section 23 When a European cooperative that has permission to operate

financing business intends to move its headquarters from Sweden

to another State is not applicable 14-20 § § the Act (2006:595) about

the European cooperatives. Instead applied 24-26 sections of this chapter.

With regard to the protection of creditors of the European cooperative in connection

with a movement of Europe the cooperative's registered office, the

the provisions of sections 24 and 25 shall apply. Law (2006:612).



section 24 Of the general meeting on the basis of article 7 of the SCE

the regulation has decided that the European cooperative's registered office shall

moved to another State, should apply for the European cooperative

permission to move. The question of whether such a condition is tested

by the Swedish financial supervisory authority.



The application must be filed within one month from the date of the general meeting

decisions about moving.



The application shall be accompanied by the following documents:



1. a copy of the minutes of the general meeting which

decision on transfer was made,



2. a copy of the proposal on the transfer, and



3. a copy of the statement referred to in article 7(3) of the SCE

the regulation.



If the European cooperative does not have annexed the documents referred

in the third paragraph of the application or if there are any other

barriers to take up the application admissible, it shall

European cooperative be required to give its opinion within a time

or remedy the shortage. If the European cooperative does not do this,

should the application be rejected.



The financial supervision authority shall inform the registration office and

The Swedish tax authorities concerning the application of the first subparagraph.

The financial supervision authority shall also inform the Office if

final decision has been announced on the occasion of the

such applications. Law (2009:711).



24 a of for the duration of the FSA's handling of

an application under section 24 is under way, the tax office may decide to

the Association for a period of time not exceeding twelve months must not be

moving its headquarters to another State. Time may be extended, if

There are special reasons, but only three months at a time.

As long as the tax agency's decision applies, the FSA

the processing of the application under section 24 of the rest.



The Revenue Commissioners may decide in accordance with the first paragraph only if



1. it is justified in the public interest,



2. the authority has decided on the revision of the European cooperative,

and



3. There is reason to believe that the audit would be complicated

considerably by a movement of the seat. Law (2009:711).



section 25 Permits for the transfer of registered office shall be notified of



1. the cooperative's creditors receive a satisfactory

security, if such protection is needed with regard to

Europe the cooperative's financial circumstances and the creditors

do not already have such security,



2. the cooperative's financial circumstances are otherwise

such that the transfer may be considered compatible with the depositor, or

the interests of other creditors, and



3. There are no barriers to the transfer under article 7.15 in

SCE regulation. Law (2006:612).



section 26 of the companies registration office shall issue the certificate referred to in

Article 7(8) of the SCE regulation decision

According to section 25 and the decision has become final. Certificates may

However, cannot be issued if the financial supervision authority has issued a

decision as referred to in section 13 of the Act (2006:595) about

the European cooperatives. Law (2009:711).



section 27 in respect of European cooperatives that have such a

the management system referred to in articles 37-41 of the SCE

Regulation (two-tier Europe organized cooperatives),

What about a Credit Union Board of directors or its

members of the following provisions of this Act apply to the

the regulatory body or its members:



Chapter 1. section 12 of the notice;



Chapter 3. 2 section 4 of the management review,



Chapter 8. 5 paragraph 1 if the contract for services with, or to

the benefit of the Member of the Board of Directors,



12 Cape. § 3 If the composition of the Board,



12 Cape. 6 § If assignments in other companies,



12 Cape. the second subparagraph of paragraph 7 if disclosure to the general meeting,



Chapter 13. section 12 of the right for the FSA to convene

the Board of Directors and be present at such meeting and participate in the

the deliberations, as well as



15. section 2 of the revocations of authorizations.



The second paragraph of section 21 and section 26 of the Act (2006:595) about

the European cooperative society States that the provisions of the first subparagraph of

the Board or its members shall also apply to a

European cooperative management or administrative body, or its

members. Law (2006:612).



section 28 A European cooperative shall draw up annual accounts and, in

where appropriate, the consolidated financial statements, in accordance with the

provisions in the Act (1995:1559) on the annual accounts of

credit institutions and investment companies that are applicable to

credit market associations. Law (2006:612).



section 29 the right to acquire the firm for a European cooperative society,

be exercised only by two or more persons jointly, unless the

subject to the provisions of Chapter 6. section 12 of the Act (1987:667) on economic

compounds. Law (2006:612).



Chapter 13. Supervision



Registration authority



section 1 of the regulatory authority of banks and branches of

foreign banking companies are the companies registration office. In

the Registrar introduced a bank register. In this writing

the information in that under this Act, the companies act

(2005:551), the Savings Bank Act are amended (1987:619), Act (1995:1570) if

member banks, the Act (1992:160) if foreign branches, etc.

or administrative provisions shall be notified for registration or in the

should be entered in the register.



For registration of credit market companies and

credit unions shall be laid down in

the companies act and the law (1987:667) on economic

compounds. For the registration of branches of foreign

Credit Unions Act applies to foreign branches, etc.



The Registrar shall disclose information and documents

in the bank register in electronic form, if requested.

Law (2007:1465).



Supervision and its extent



section 2 of the prudential supervision of credit institutions and

foreign credit institutions which have established branch pursuant to Chapter 4. 4 section.



For a credit institution comprises the supervision that the movement is driven

According to



1. this law,



2. regulations governing the Institute's activities,



3. the Institute's articles of Association, statutes or regulations, and



4. internal instructions which are based on the provisions

regulates the activities of the Institute.



The inspection also has oversight of the credit institution's

owners and management meets the eligibility requirements of this law.



For a branch of a foreign credit institution referred to in 4

Cape. paragraph 4 shall inspection ensure that the institution complies with the

laws and regulations applicable to the institution's

activities in this country.



Information from surveys with a credit institution



paragraph 3, a credit institution and such foreign credit institutions

that set up a branch in Sweden will provide the financial supervision authority the

information about their activities and related

circumstances that the inspection request.



The FSA may also request such information as

referred to in the first paragraph of the people employed by the

institutions referred to in the first subparagraph as well as of persons

employees of the companies referred to in Chapter 6. section 1 of the Act (2014:968)

If the special supervision of credit institutions and

securities companies. Law (2014:982).



3 a of the Government or the authority, as the Government determines

announces that certain tasks under paragraph 3 of

must be submitted to the financial supervision authority shall be submitted to

The central statistical office. Law (2014:487).



paragraph 4 of the financial supervision authority, when the inspection is of the opinion that it is

necessary, carry out an examination of a financial institution

and such foreign credit institution which established the branch in

Sweden.




Before an investigation is conducted in a foreign

credit institutions which have established branch pursuant to Chapter 4. § 1, shall

The financial supervision authority shall consult the authority in the country of

within the EEA, which authorized the foreign

the credit institution. Law (2014:982).



4 a section/entry into force: 2016-02-01/a credit institution shall inform the financial supervision authority if the failing or likely to fail.

The financial supervision authority shall immediately inform the resolution authority (national debt) and other relevant resolution authorities whether notification. Law (2015:1029).



Information from investigations of other companies



§ 5 If a credit institution is part of a group, the other

the companies of the Group provide the financial supervision authority the information

about their activities and related circumstances

the inspection needs for its oversight of the Institute.



5 a section/entry into force: 2016-02-01/a company referred to in Chapter 1. Article 1, first paragraph 2 Act (2015:1016) if resolution shall inform the financial supervision authority if the failing or likely to fail. The financial supervision authority shall immediately inform the national debt and other relevant resolution authorities whether notification.



If the company has failed to fulfil its obligations under the first subparagraph, the FSA to intervene under Chapter 15.

Law (2015:1029).



6 § has a company been instructed by a credit institution to

operate any part of the Institute's motion, the financial supervisory authority

conduct investigations of the company, if necessary, for

supervision of the Institute. One such company shall also provide

The financial supervision authority the information about their activities and thus

coherent circumstances that the inspection needs for its

supervision of the Institute.



Cooperation and exchange of information



6 a of the financial supervision authority shall in its supervisory activities

cooperate and exchange information with foreign competent

authorities, the European banking authority, the European

systemic risk Board and the European Securities and

markets authority to the extent arising out of Sweden's

membership in the European Union. Law (2014:982).



6 b/expires U: 2016-02-01-financial supervisory authority may refer the matters related to a

procedure by another competent authority in the EEA to

The European banking authority of dispute resolution in the cases

evidenced by articles 112 (2), 116 and 133 in

the capital adequacy directive. Law (2014:982).



6 b/entry into force: 2016-02-01/FSA may refer questions concerning a procedure of another competent authority in the EEA to the European banking authority for settlement of disputes in the case as shown in the



1. Article 112 (2), 116 and 133 in the capital adequacy directive, and



2. the second subparagraph of articles 8(3), 8(4), second subparagraph, 20.7 and 30.5-30.7 in crisis management directive. Law (2015:1029).



6 c § financial supervisory authority may also refer such questions as

referred to in paragraph 6 (b) to the European banking authority

settlement of disputes in accordance with article 41(2), 43.5, 50.4 and

51(2) of the solvency directive. Law (2014:982).



6 § entry into force d/in: 2016-02-01-financial supervisory authority may request the European banking authority shall assist the competent authorities to reach an agreement in the case, as is clear from article 8(2), third subparagraph, 20.5, second subparagraph, and the second paragraph of 25.4 30.4 crisis management directive. Law (2015:1029).



7 § after notification to the financial supervision authority, a competent

authority in another country within the EEA study

of a in Sweden established branch of foreign

credit institutions as referred to in Chapter 4. 1 § and in the branch of

such companies as referred to in Chapter 4. section 3. Law (2014:982).



paragraph 8 of the financial supervision authority shall provide the information as a competent

authority in another country within the EEA need their supervision

of a foreign credit institution, a foreign financial

institutions or subsidiaries operating here under 4

Cape. 1, 2 or 3 sections.



/Rubriken entry into force: 2016-02-01/Register of contracts



8 a of/comes into force in: 2016-02-01-financial supervisory authority may decide that a credit institution shall establish registers of its financial contracts and other agreements of considerable significance for the credit institution's activities. Law (2015:1029).



Revision



paragraph 9 of the financial supervision authority has the right to appoint one or more

Auditors, together with the other auditors participating in

audit of a credit institution. The inspection may

revoke such appointment and appoint a new auditor.



The auditor is entitled to equitable remuneration from the Institute for its

work. The size of the fee is determined by the Inspectorate.



The financial supervision authority shall issue an instruction for an accountant

designated by the inspection. An auditor appointed by

The financial supervision authority shall, irrespective of the meeting's instructions follow the

instruction that the Inspectorate has issued.



section 10 of the auditor or auditors shall promptly

report to the Swedish financial supervisory authority if he or she at

the performance of their mission in a credit institution is informed

If the conditions which



1. can constitute a material violation of the provisions

regulates the activities of the Institute,



2. may affect the continuous functioning of the institution, or



3. can lead to rejection of the auditor to the balance sheet

or the profit and loss account is established or to the note under

Chapter 9. 33 or 34 of the Swedish companies Act (2005:551), Chapter 8. section 13

Act (1987:667) on economic associations, 4 a Cape. 14 and

15 § § savings Bank Act are amended (1987:619) or 7 a Cape. 14 and 15 sections

Act (1995:1570) where the member banks.



Auditor and Inspector has a corresponding

reporting requirements if he or she becomes aware of

conditions referred to in the first subparagraph in relation to

Mission in the credit institution's parent companies or subsidiaries

or in a company that has a similar relationship with the

Institute. Act (2005:932).



Establishment of special balance sheet



section 11 of the Board of Directors of a savings bank, a member bank or in a

credit market Association is obliged to immediately have a

separate balance sheet, if there is reason to believe that

institution cannot fulfil own funds requirement under Chapter 2.

section 1 of the Act (2014:968) if special supervision of credit institutions

and securities companies.



The balance sheet shall be examined by the institution's auditor. If

the review shows that the requirement is not met, the

the Institute's Board of Directors shall immediately inform the financial supervision authority.

Law (2014:982).



The convener of the Board of directors or the general meeting of shareholders



section 12 of the financial supervision authority may convene the Board of Directors of a

credit institutions. If the Board does not have to comply with a

request from the supervisory authority to convene extraordinary general meeting,

the inspection issue such a notice.



Representatives of the inspection may attend the general meeting and at a

such a Board meeting that the inspection has convened

as well as participate in the deliberations.



General Counsel in bankruptcy



13 § When a credit institution has been declared bankrupt,

The financial supervision authority shall order a general agent. The General

the officer shall that trustee participate in insolvency

management, together with the trustees appointed

under the Bankruptcy Act (1987:672).



The Attorney General, regarding the co-custodian make a

such a request as referred to in Chapter 7. paragraph 5 of the Bankruptcy Act.



Although the decision on the sharing of the bankrupt estate management has

the Attorney General, may participate in the management of its

a whole.



The provisions of the Bankruptcy Act on fees to the trustee in bankruptcy

also applies to the Attorney General.



FSA's powers of a credit institution's

liquidation



section 14 Under the winding-up of a credit institution has

The Swedish financial supervisory authority the same powers in respect of the joint liquidators

and AGM the inspection otherwise has in terms of the Board of Directors

and the meeting.



Pension or personal Foundation



section 15 If an employee benefit plan or an employee trust belongs

of a credit institution and the Foundation's assets

mainly comes from funds contributed by

credit institution, the financial supervision authority shall ensure that

the Foundation's assets are placed in a way that prepares

reasonable security. During the assessment, the purpose of the Foundation

considered and taken into account as provided for in this Act if

placement of an institution's funds. If the Foundation's assets

not have been placed in a satisfactory manner,

the inspection order the Foundation to make the correction.



The Foundation shall represent on FSA

request keep the Foundation's cash and other assets as well as

books, accounts and other documents available to the

review. He or she shall also submit the inspection, all the

information about the foundation that the inspection request.



Fees to the FSA



16 §/expires U: 2016-02-01/credit institutions and foreign credit institutions with branch

here in the country, with annual dues cover

FSA's activities and central statistical office

activities under the Act (2014:484) on a database for

monitoring and supervision of financial markets. The same

for such companies as referred to in Chapter 4. paragraph 3 and which have

branch here in the country. Law (2014:487).



16 section/entry into force: 2016-02-01/credit institutions and foreign credit institutions with branch here in the country, with annual dues pay for FSA's activities and the activities of the central statistical office under the Act (2014:484) on a database for the monitoring and supervision of financial markets. The same applies to such companies as referred to in Chapter 4. paragraph 3 of which have branch in this country.




The financial supervision authority may charge fees for the examination of applications, notifications and notices under this Act. Law (2015:1029).



Chapter 14. Especially if the examination of the suitability of owners



§ 1 a direct or indirect acquisition of shares

in a credit institution, which means that the acquirer's total

holdings constitute a qualifying holding may be made only after

the permission of the financial supervision authority. The same applies to acquisitions that

means that a qualifying holding shall be increased



1. so that it is equal to or exceeds 20, 30 or 50

per cent of the capital or voting rights for all shares

or shares, or



2. so that the Institute becomes a subsidiary.



Conditions referred to in the first subparagraph shall be obtained prior to the acquisition.

Application for a permit shall be made in writing. If the acquisition has

made through the Division of property, inheritance, wills, General parcel or

in any other similar way, instead, is required to

the transferee shall retain the shares or units.

The purchaser must apply for a permit within six months after

the acquisition.



The Swedish financial supervisory authority shall, within two working days of an

complete application form submitted to the supervision authority send an

confirmation to the purchaser that the application has been received.

Law (2009:361).



1 a section/entry into force: 2016-02-01/provisions of 2, 3 and 4 of § shall not apply to decisions on the transfer, reduction or conversion under 6, 16, 17, or 21. Act (2015:1016) for resolution.

Law (2015:1029).



section 2 of the permit is given to acquisition referred to in § 1, if

the transferee is deemed appropriate to exercise a significant

influence over the management of a credit institution and it may

It is assumed that the proposed acquisition is economically sound. Into account

should be given to the acquirer's likely impact on business

in the credit institution.



The assessment referred to in the first subparagraph, the acquirer's

reputation and capital strength to be taken into account. It should also be taken into account



1. where as a result of the acquisition will be included in

the Board of Directors of the credit institution or be executing

Director of it, or be a substitute for any of them,

sufficient insight and experience to participate in the management

of a credit institution and generally is suitable for a

such a task and whether the Board in full has sufficient

knowledge and experience to lead the Institute;



2. If there are grounds to believe that the purchaser will

counter to the credit institution's business is conducted in a manner that

consistent with this Act and the regulations

regulates the activities of the Institute, and



3. If there are grounds to believe that the acquisition is connected with

or may increase the risk of



a) money laundering as referred to in Chapter 1. paragraph 5 of the 6 teams (2009:62) if

measures against money laundering and the financing of terrorism,

or



b) offences under paragraph 2 of section 2, 3 or 4 § lagen (2002:444) if

punishment for the financing of particularly serious crime in

some cases, with respect to offences under section 2 of the Act (2003:148) if

the penalties for terrorist offences.



If the acquirer is a financial holding company or a

mixed financial holding company, the assessment of

acquirer special consideration if its management

meets the requirements for the management of such

company in accordance with Chapter 3. section 5 of the Act (2014:968) on special

supervision of credit institutions and securities companies and

Chapter 5. section 16 of the Act (2006:531) on special supervision of

financial conglomerates.



Acquisition would lead to the close links between

the credit institution and any other, getting permission is granted only if the

relations does not hinder an effective supervision of

Institute. Law (2014:982).



2 a of issue of the permit referred to in section 2 may be determined only after

consultation with the competent authority in the other country within the EEA where

the acquirer is



1. a in the country authorized foreign credit institutions,

business of electronic money, insurance companies or

investment firm, or of the resident

management companies which are authorised to carry on business

in accordance with the provisions of European Parliament and Council directive

2009/65/EC of 13 July 2009 on the coordination of laws, regulations and

administrative provisions relating to undertakings for collective

investment in transferable securities (UCITS),



2. the parent undertaking of such an undertaking referred to in paragraph 1,

or



3. a natural or legal person controlling such

companies referred to in 1. Law (2011:883).



2 b of the FSA's decision in a matter of permission to

acquisition referred to in paragraph 1 shall be notified within 60 working days

After the confirmation referred to in paragraph 1, third subparagraph

was sent (the assessment period). If the FSA asks

additional data can be extended assessment period.



The financial supervision authority shall be deemed to have granted permission to

the acquisition, if the inspection is not within the assessment period has

announced the decision in respect of the application.



If the financial supervision authority grants permission to an acquisition,

the inspection may decide a certain amount of time within which the acquisition

should be carried out. The inspection may decide to extend the time.

Law (2009:361).



section 3 of The who has decided to sell a qualifying holding

of shares in a credit institution or a large

part of such a qualifying holding, to holdings

This will be lower than any of the paragraph 1 of the first

paragraph specified borders shall notify the

The financial supervision authority if the law (2009:361).



4 § When a financial institution becomes aware that the shares or

participation in the Institute acquired under section 1 or disposed

under paragraph 3, the institution shall notify the acquisition or

the sale to the Swedish financial supervisory authority.



When a credit institution otherwise becomes aware that it has

a close relationship with someone else, the institution shall, as soon as

notify the financial supervision authority.



Another credit institution than a savings bank shall annually to

The financial supervision authority shall notify the names of owners who have a

qualifying holding of shares or units of the Institute and

the size of the holdings.



§ 5 If a legal person has a qualifying holding of

holdings in a credit institution, the legal

the person promptly notify changes of which included in its

management to the financial supervision authority.



paragraph 6 of the financial supervision authority may decide that the person has a

qualifying holding of shares in a

credit institutions at the meeting must not represent more shares

or share than corresponding to a holding which is not

qualified



1. If the holder prevents or likely to

counter to the credit institution's business is conducted in a manner

consistent with the requirements of this Act and other

regulations governing the Institute's activities,



2. where the holder has materially breached its

obligations in the course of trade or in other economic

Affairs or is guilty of serious

crime,



3. If the holder is a financial holding company or a

mixed financial holding company and its management do not

meets the requirements for the management of such

company in accordance with Chapter 3. section 5 of the Act (2014:968) on special

supervision of credit institutions and securities companies and

Chapter 5. section 16 of the Act (2006:531) on special supervision of

financial conglomerate, or



4. If there are grounds to believe that the holding in connection with

or may increase the risk of



a) money laundering as referred to in Chapter 1. paragraph 5 of the 6 teams (2009:62) if

measures against money laundering and the financing of terrorism,

or



b) offences under paragraph 2 of section 2, 3 or 4 § lagen (2002:444) if

punishment for the financing of particularly serious crime in

some cases, with respect to offences under section 2 of the Act (2003:148) if

the penalties for terrorist offences.



If the person who has a qualifying holding of shares or

shares have not applied for a permit to an acquisition that

referred to in article 1, the financial supervision authority may decide that the holder

at the general meeting may not represent shares or units to

the part they are subject to a requirement for development consent.



If someone in contravention of a decision by the Swedish financial supervisory authority has a

qualifying holding of shares, the holder

not represent shares or units of the meeting to the

share holding is in conflict with the decision. Law (2014:982).



section 7 of the financial supervision authority may submit to an owner referred to in section 6,

the first paragraph to dispose of so much of the shares or

shares that subsequently is not qualified. One owner

referred to in paragraph 6 of the second or third paragraph may be submitted to

dispose of as much of the shares or units of the holding

does not conflict with the Authority's decision.



7 a of the financial supervision authority may, in addition to 6 and 7

§ § decide that an owner who does not comply with the provisions of 1

or section 3 shall pay a penalty as determined in

accordance with Chapter 15. 8-9 sections. Law (2015:184).



paragraph 8 of the shares covered by the prohibition provided for in paragraph 6 of

or notice under section 7 shall not be included when the

required the consent of the owner of a certain part of the shares or

shares of the credit institution for a decision to be

valid or a power shall be exercised. However, this does

not if a liquidator appointed under section 9.



section 9 if there are special reasons, the financial supervision authority may request

that the district court appoints a suitable person as custodian

representing such shares under section 6 may not be

represented by the owner. Such applications are heard by the District Court in

the place in which the owner is domiciled or, if the owner has not

resident in Sweden, the Stockholm District Court.




A trustee is entitled to reasonable compensation for the work and

outlay. The royalty shall be payable by the owner of the shares

or units and shall, on request, be advanced by

the credit institution. If the debtor does not accept

the trustee's claims, the compensation is determined by the District Court.



section 10 where a credit institution has close links with anyone

and it prevents the effective supervision of the credit institution,

the Swedish financial supervisory authority may submit to the holders of shares or

participations in which relations are close to dispose of so

large part of the shares or units that so is no longer

case.



The Swedish financial supervisory authority may also decide that the

the subject of a decision taken under the first subparagraph may not represent

the shares or units of the meeting. In this case, the

the provisions of section 9 shall apply.



15. Interventions



Action against credit institutions and certain natural persons



(1) If a credit institution has failed to fulfil its obligations

under this Act, the regulations governing

the activities of the Institute, the Institute's articles of incorporation, bylaws

or regulations or internal instructions that have their

because of regulations that govern the activities of the Institute,

should the FSA to intervene.



The financial supervision authority shall issue an order within the

certain time limit or reduce the risk of movement in something

regards, limit or entirely omit dividends or

interest payments or take any other action to be

to correct the situation, a prohibition to execute

decision or by making a note. If the infringement

is serious to the credit institution's authorisation is withdrawn

or, if there is sufficient warning is announced.



The FSA will also intervene by issuing a

injunction in accordance with the second subparagraph, if it is

likely that a credit institution within 12 months

longer will fulfil their obligations under this law

or regulations governing the institution's

activity. Law (2014:982).



1 a of/expires U: 2016-02-01-the FSA will act against anyone who is included in the

a credit institution's Board or its Executive

Director, or replacement for any of them, if

credit institution



1. has a permit to operate the bank-or

finance law by making false statements or

on other irregular means;



2. in violation of Chapter 14. paragraph 4(1) do not to

The FSA report such acquisitions and divestitures

referred to therein,



3. in violation of Chapter 14. the third subparagraph of paragraph 4 of the stop to

The financial supervision authority shall notify the names of owners who have a

qualifying holding of shares or units of the Institute

as well as the size of the holdings,



4. do not comply with the requirements of Chapter 6. 1-4 (a), 4 (c) or section 5 or

in regulations issued pursuant to Chapter 16. 1 § 4,



5. to provide information to the financial supervision authority

or provide incomplete or incorrect information on

compliance with the obligation to fulfil own funds requirements

under article 92 of Regulation (EC) no 575/2013, in the

original wording, in contravention of article 99(1) of the

the regulation,



6. do not report or provide incomplete or

wrong information to the financial supervision authority with regard to

the data referred to in article 101 of Regulation (EC) no 575/2013, in

the original wording,



7. to provide information to the financial supervision authority

or provide incomplete or incorrect information on a

large exposure in contravention of Article 394(1) of Regulation (EU)

No 575/2013, in the original wording,



8. do not submit information to the financial supervision authority

or provide incomplete or incorrect information on

liquidity in contravention of article 415(1) and 415(2) of regulation

575/2013, in the original wording,



9. to send information to the financial supervision authority

or provide incomplete or incorrect information on their

leverage ratio in the contravention of article 430.1 of Regulation (EU)

No 575/2013, in the original wording,



10. repeatedly or systematically fail to

keep liquid assets in violation of article 412 of regulation

575/2013, in the original wording,



11. expose themselves to an exposure which exceeds the limits

under Article 395 of Regulation (EU) no 575/2013, in the

original wording,



12. is exposed to credit risk in a

securitisation position without meeting the conditions laid down in

Article 405 of Regulation (EU) no 575/2013, in the original

the wording,



13. do not leave information or provide incomplete

or incorrect information in violation of any of the articles

431.1 – 431.3 and 451.1 of Regulation (EU) no 575/2013, in the

original wording,



14. making payments to holders of instruments included in the

the institution's capital base in violation of Chapter 8. 3 and 4 of the law

(2014:966) on capital buffers or article 28, 51 or 63

of Regulation (EC) no 575/2013, in the original wording,

When these articles prohibit such payments to

holders of instruments included in the capital base,



15. have been found liable for a serious infringement of

Act (2009:62) on measures against money laundering and the financing

of terrorism, or



16. have allowed a member of the Board, Executive Director

or replacement for any of them to undertake such

Mission of the Institute or remain in the institution, even though

the requirements of Chapter 3. 2 paragraph 4 or 5, 10.

8A-8 c sections, 12. 6 a-6 c sections or in regulations

issued under Chapter 16 of the. 1 § 2 are not met.



If such a person referred to in the first subparagraph covered by

authorisation or notification obligations pursuant to chapter 14. 1

or section 3 of the acquisition or disposal of shares

in the Institute, the first subparagraph 2 and 3 do not apply to the

the person in respect of such shares or units.



Intervention as referred to in the first subparagraph may be made only if the

the Institute's breach is serious and the person in question

intentionally or recklessly caused the breach.



The intervention takes place through



1. the decision to the person concerned for a period of time, not less than three

years and not more than ten years, may not be a Director or

the Chief Executive of a credit institution, or replacement

for any of them, or



2. decision on the penalty.

Law (2015:184).



1 a section/entry into force: 2016-02-01-the FSA will act against anyone who is part of a credit institution's Board or its Executive Director, or replacement for any of them, if the credit institution



1. has a licence to operate the banking or finance law by making false statements or by any other irregular means;



2. in violation of Chapter 14. paragraph 4(1) to Swedish financial supervisory authority (finansinspektionen) notify such acquisition and divestitures referred to therein;



3. in violation of Chapter 14. the third subparagraph of paragraph 4 of the financial supervisory authority to register the names of the owners who has a qualifying holding of shares or units of the Institute as well as the size of the holdings,



4. do not comply with the requirements of Chapter 6. 1-4 (a), 4 (c), or section 5, or in the regulations that have been issued pursuant to Chapter 16. 1 § 4,



5. to provide information to the financial supervision authority or provide incomplete or incorrect information on the enforcement of the obligation to comply with the own funds requirements under article 92 of the prudential regulation, in contravention of article 99(1) of the said regulation,



6. do not report or provide incomplete or incorrect information to the financial supervision authority with regard to the data referred to in article 101 of the prudential regulation,



7. to provide information to the financial supervision authority or provide incomplete or incorrect information about a large exposure in contravention of Article 394(1) of prudential regulation,



8. do not submit information to the financial supervision authority or provide incomplete or incorrect information on liquidity in contravention of article 415(2) of regulation and supervisory 415(1),



9. to send information to the financial supervision authority or provide incomplete or inaccurate information about their leverage ratios in contravention of article 430.1 in prudential regulation,



10. repeatedly or systematically fail to hold liquid assets in violation of article 412 in prudential regulation,



11. taking an exposure exceeding the limits referred to in Article 395 of the prudential regulation,



12. is exposed to the credit risk of a securitisation position without meeting the conditions of article 405 of the prudential regulation,



13. do not leave information or provide incomplete or incorrect information in violation of any of the articles 431.1 – supervisory and regulation of 431.3 451.1,



14. making payments to holders of instruments included in the institution's own funds in violation of Chapter 8. 3 and 4 of the Act (2014:966) on capital buffers or article 28, 51 or 63 in prudential regulation, when those articles banning such payments to holders of instruments included in the capital base,



15. have been found liable for a serious infringement of the law (2009:62) on measures against money laundering and terrorist financing, 16. has allowed a Board Member, Executive Director or replacement for any of them to undertake such a mission in the Institute or remain in the institution even though the requirements of Chapter 3. 2 paragraph 4 or 5, 10.

8A-8 c sections, 12. 6 a-6 c section or in the regulations that have been issued pursuant to Chapter 16. 1 § 2 are not fulfilled,




17. in violation of 6 a kap. 2 § to draw up or submit a consolidated recovery plan, 18. in violation of Chapter 6 (b). section 11 to report to intercompany financial support should be provided, 19. in violation of Chapter 13. 4 (a) and 5 (a) § § to inform the financial supervision authority if the institution failing or likely to fail, or 20. contrary to Chapter 28. section 1 of the Act (2015:1016) if resolution fails to provide requested information to the national debt.



If such a person referred to in the first subparagraph shall be subject to authorisation or notification obligations pursuant to chapter 14. 1 or 3 section for acquiring or disposing of shares or units of the Institute, the first subparagraph 2 and 3 shall not apply to that person in respect of such shares or units.



Intervention as referred to in the first subparagraph may be made only if the institution's breach is serious and the person willfully or recklessly caused the breach.



The intervention takes place through



1. the decision to the person concerned for a period of time, not less than three years and not more than ten years, may not be a Director or Chief Executive of a credit institution, or replacement for any of them, or



2. decision on the penalty.

Law (2015:1029).



paragraph 1 (b) in selecting the sanction must take into account financial supervision authority

to the gravity and to the duration of the infringement.

Special consideration should be given to the nature of the infringement,

specific gravity of and potential effects on the

financial system, the damage caused and the degree of

liability.



The financial supervision authority may refrain from action if a

infringement is minor or excusable, if the credit institution

do the rectification or if the natural person seemed to

the Institute makes the correction or any other authority has

taken steps to Institute or the natural person

and these measures are deemed inadequate. Law (2015:184).



1 c § in addition to those mentioned in paragraph 1 (b) shall, in aggravating direction

If the credit institution or of the natural person

has previously committed an infringement. That assessment should

particular attention shall be given to whether contraventions are similar and

the time that has elapsed between the infringements.



In mitigating direction shall be taken into account if



1. the institution or the individual in question materially

through active cooperation has facilitated

The FSA investigation, and



2. the Institute quickly ceased the infringement or the

physical person quickly worked to infringement should

cease, then the notified to or mentioned by

The Swedish financial supervisory authority. Law (2015:184).



1 (d) of the Act (2014:968) if special supervision of

credit institutions and securities companies is provided for

opportunity to intervene by order of particular capital base requirements

and in particular the liquidity requirements.



In the law (2014:966) on capital buffers is provided for

intervention in a credit institution that does not meet the

the own funds requirements under the Act. Law (2015:184).



section 2 If someone who is part of a credit institution's Board of directors or

its Managing Director does not comply with the requirements

specified in Chapter 3. 2 § 4, the Swedish financial supervisory authority to revoke

the Institute's permission. It may, however, be made only if the inspection

first decided to object to the person or persons and

If this person or these, then one of the inspection, fixed period of

no more than three months have passed, still remains in the

the Board of directors or the Managing Director



The first subparagraph shall also apply if the Board in its entirety not

satisfy the requirements set out in Chapter 3. 2 § 5.



Instead of having to withdraw the authorization,

The financial supervision authority may decide that a Board member or

Executive Director may no longer be there.

The FSA will then appoint a replacement. Long

Mission until the Institute appointed a new

Member of the Board of directors or the Managing Director. Law (2014:982).



§ 2 b/entry into force: 2016-02-01-When the FSA has reason to intervene against a credit institution as referred to in paragraph 1 or 2, and the offences are of such a nature or to an extent that there is reason to believe that the credit institution may be subject to resolution pursuant to lagen (2015:1016) concerning resolution, shall notify the financial supervision authority Swedish national debt Office and Sveriges riksbank on this.

The financial supervision authority shall also provide the information to the national debt, which the authority will need to prepare the measures referred to in the Act.



The financial supervision authority shall also notify the credit institution, if the inspection is of the opinion that an increase of the share capital of the credit institution is required to Institute not to fail. Law (2015:1029).



2 c §/comes into force in: 2016-02-01/For FSA to intervene against a credit institution if the conditions in paragraph 2 (b) are met, the Inspectorate of the decision indicate that the intervention is such a krisavvärjande measure referred to in the Act (2015:1016) for resolution.

Law (2015:1029).



paragraph 3 of the financial supervision authority shall revoke a credit institution's

State of the Institute



1. not notified for registration within the prescribed period

or notification has been shelved or rejected by a decision

which has become final,



2. not within one year from the date the authorization was granted have begun

such motion that the State intends,



3. have declared that they forgo the permit,



4. has transferred its entire movement,



5. for a continuous period of six months has not pushed

such a movement as the authorization applies;



6. declared bankrupt or if the decision is made to

the Institute shall enter into compulsory liquidation, or



7. has a permit by submitting false data

or any other irregular means;



In the case referred to in the first subparagraph 2, 5 and 7 may instead

warning is announced, if there is enough. Law (2014:982).



section 4 of the State financial supervisory authority revoked may determine the

how the decommissioning of the movement shall take place.



A withdrawal decision may be subject to a ban to continue

the movement.



paragraph 5 of the Financial inspection by a competent authority

informed that a Swedish credit institutions infringed

regulations applicable in that country for such institutions,

the inspection immediately apply the measures provided for in paragraphs 1 to 4 to

the Institute, in the event of any circumstance referred to

there. The inspection shall immediately inform the competent

the authority on the measures taken. Law (2014:982).



section 6 of the repealed law (2013:455).



Penalty



Article 7 where a credit institution has issued a decision on complaint

or warning under section or warning under paragraph 3 of the first

paragraph 7 as compared to the second subparagraph, the Swedish financial supervisory authority

decide that the Institute should pay a penalty.



The fee to the State. Law (2014:982).



§ 8 the fine for a credit institution to be determined

to a maximum of



1. ten per cent of the turnover of the credit institution closest to

the previous fiscal year,



2. twice the profit that the Institute has received as a result of

rule violation, if the amount can be determined, or



3. twice the costs avoided as a result, the Institute

of rule violation, if the amount can be determined.



The fine shall not be less than

5 000 SEK. If the infringement has taken place in the Institute's

first year of operation, or if the data on the turnover

otherwise, it is missing or is inadequate, it may be estimated.



The fee must not be so large that the Institute not

complies with the requirements of Chapter 6. § 1. Law (2015:184).



8 a of the fine for a natural person shall be determined

to a maximum of



1. an amount as at 17 July 2013 in Swedish kronor

accounted for EUR 5 million,



2. twice the profit that the natural person has obtained

as a result of the infringement, if the amount goes to

determine, or



3. twice the costs incurred by the individual in question avoided

as a result of the infringement, if the amount goes to

fix.



The fee to the State. Law (2015:184).



§ 9 When the amount of the penalty is determined, the Special

taking into account the circumstances referred to in 1 (b) and (c)

sections as well as to the institution's or the natural person's

financial position and, if it is possible to determine, the

profit by the Institute or the physical person received to

as a result of the infringement or the costs

been avoided. Law (2015:184).



The sanctions procedure



9 a § questions about intervention against natural persons for

infringements referred to in paragraph 1 is taken up by the Swedish financial supervisory authority

by the sanction order.



A sanctions procedure means that the natural person

before that, within a certain period of time to approve the intervention according to the

1 a of the fourth subparagraph which are particularly to the time or amount.



Once the order has been approved, as a

Court ruling which had the force of law. An approval

is made after the time specified in the notice are without

effect. Law (2015:184).



9 b of A sanctions procedure shall indicate



1. the natural person that injunction,



2. the offence and the circumstances necessary to

characterize it,



3. the provisions applicable to the infringement, and



4. the penalty before the person.



The notice shall also include a statement that

application for sanction may be filed with the Court, if

the order is not accepted within the time

The Swedish financial supervisory authority specifies. Law (2015:184).



9 c section If a sanctions order has not been approved in the

specified time, the FSA may apply to the Court to


sanction will be decided. Such an application shall be made in the

administrative law that has jurisdiction to hear an appeal of the

Finansinspektionen's decision on intervention against the credit institution

for the same infringement.



Leave to appeal is required for an appeal to the administrative court.

Law (2015:184).



9 d § a penalty for an infringement as referred to in paragraph 1 (a),

be decided only if the sanctions order has been served on that

sanction directed against within two years from the date of

the infringement took place. Law (2015:184).



Late payment fee



section 10 if a credit institution fails to timely submit the

information prescribed pursuant to Chapter 16. section 1 of the first

paragraph 7, the financial supervision authority may decide that the Institute should

pay a late charge with a maximum of 100 000 SEK.



The fee to the State. Law (2014:982).



Enforcement of the decision on the penalty and

late payment fee



section 11 of the fine or the late payment fee must be paid

to the financial supervision authority within thirty days after the

the decision on the imposition of sanctions a final or

been approved or the longer period specified in the decision or

the injunction. Law (2015:184).



section 12 of the FSA's decision to impose penalty

or late charge may be effected without previous judgment

or a rash if the fee has not been paid within the time

specified in section 11. Law (2014:982).



section 13 If the fine or fines not

paid within the period specified in section 11, the financial supervisory authority

leave the unpaid fee for collection. Provisions on

recovery of State assets can be found in the Act (1993:891) if

recovery of State assets etc Law (2014:982).



section 14 A penalty or late fee imposed

falling away to the extent enforcement have not been

within five years from the date that the decision was final or

the sanctions order was approved. Law (2015:184).



Intervention against foreign credit institutions and other companies



section 15 If a foreign credit institution operating in the

Sweden pursuant to Chapter 4. 1, 2 or 3 sections not pushing his

activities in accordance with the provisions referred to in paragraph 1 of the

or if there is a substantial risk that the provisions

not complied with, the financial supervision authority shall inform the competent

authority of the home Member State.



In urgent cases, the supervisory authority, pending actions

taken by the competent authorities of the home Member State, adopt

action against the Institute in order to safeguard financial

stability in Sweden. Such measures shall be proportionate to the

purpose and stop as soon as they are no longer needed or

the home Member State's authorities to take such

reorganisation measure referred to in article 3 of Directive

2001/24/EC. Law (2014:982).



section 16 if a credit institution operating here under 4

Cape. § 1 or 2, have had their business licenses revoked

in Finland, the financial supervision authority immediately ban

the Institute to begin more transactions in this country.



The financial supervision authority shall also prohibit an undertaking such as

operate this according to Chapter 4. section 3 to begin more

transactions in this country if a foreign credit institution which

the company owns or its parent company got its

business license revoked. If a notification

from a competent authority, it can be shown that such companies as

referred to in Chapter 4. 3 § no longer meets any of the conditions

specified in that clause, the company may no longer be supported by the

the section running the business on this. Instead,

Swedish provisions shall apply for the business.



section 17, If a foreign credit institutions operate here

According to Chapter 4. section 4, paragraph 1 and paragraph 3(1) 6 apply

the activities in this country.



Cases of interference referred to in paragraph 1 of the review by the

The Swedish financial supervisory authority.



If deposits with the branch covered by warranty as a result

by a decision taken pursuant to the second subparagraph of paragraph 3 of law (1995:1571) if

deposit guarantee and authorization to the branch establishment not

would have been issued without such a decision, the inspection;

If the credit institution does not comply with its obligations under

the law on deposit insurance, submit to the Institute to do

correction. The notice shall include a statement that

Branch State otherwise may be withdrawn. If the institution does not

have made the correction within one year from the date of this order, the

the permit revoked. When such an examination is applied to other

paragraph.



If the branch licence is revoked shall apply paragraph 4.



The inspection shall notify the competent authority in

the institution's home Member State, indicating the activities undertaken with the support of

This clause. Team (2013:455).



Intervention against the which has no permission



section 18 if anyone is driving such a movement covered by this law

without being entitled to it, the financial supervisory authority

submit it to cease operations. The inspection may

decide how the decommissioning of the movement to occur. In a

injunction to a Swedish limited company or a

American Economic Association shall inform the financial supervision authority if the

to the right, on application of the supervisory authority may

decide that the company or the Association shall go into liquidation if

the order is not complied with.



The FSA may also take action against the operator of

the movement, through the decision on penalty according to

the provisions of this chapter.



If it is uncertain if the law applicable to the particular motion,

the Inspectorate shall submit to the operator's movement to leave the

information about the movement that inspection need to

determine if this is the case. Furthermore, anyone who is an accountant in a

companies are required to submit, at the request of the financial supervision authority

information about the company's motion that the Auditor had

aware of during the performance of their duties.



In the case of foreign companies gain a notice under

This clause is directed against the company as well as the one here in

the country is working on behalf of the company. Law (2015:184).



§ 19 Of a Swedish limited liability company or a Swedish economic

Association fails to comply with a notice under section 18 of the first

subparagraph to cease operations, the Court shall, upon application,

by the Swedish financial supervisory authority, decide that it shall go in

liquidation. In these cases, apply the provisions of chapter 25.

10, 25, 28-44, 46 and 47 of the Swedish companies Act (2005:551) and 11

Cape. 5 and 7-16 sections and section 17 of the fourth and fifth paragraphs of the law

(1987:667) on economic associations.



Decision on liquidation shall not be granted if, during the

proceedings at the District Court shows that the movement has ceased.



The decision on liquidation effective immediately. Act (2005:932).



VITE



section 20 Of the financial supervision authority notifies the injunction or prohibition

under this Act, the supervision authority may impose a penalty.



15 a Cape. /Kapitlet entry into force: 2016-02-01/Temporary management



Appointment of interim trustee



section 1 of the financial supervision authority may designate one or more temporary managers of a credit institution, if there is reason to believe that the institution may be subject to such a resolution procedure referred to in the Act (2015:1016) on the resolution and



1. the institution has a financial situation that prompted the FSA to intervene under Chapter 15. § 1 or 2, the financial situation has not significantly improved after the intervention, and no other actions are deemed sufficient to remedy the situation, or



2. The financial supervision authority has issued a warning in accordance with Chapter 15.

§ 1.



The financial supervision authority may decide that the provisional liquidator shall enter into the Board's and the ceo's place or work together with the Management Board and the Executive Director.



A decision on the Manager to take the Board's and the ceo's place should be made public and be registered with the companies registration office. Law (2015:1029).



section 2 of the financial supervision authority shall in its decision to appoint temporary managers describe the Manager's tasks and specify any conditions for the mission.



When an administrator is appointed to work with the Board and the Executive Director, the financial supervision authority may provide that certain decisions or measures should be preceded by consultation with or consent of the nominee.



Override the Board of directors or the Managing Director the requirements for consultation or consent referred to in the second subparagraph, this does not affect the legal validity of the document.

Law (2015:1029).



section 3 of the temporary administrator may not call a general meeting or equivalent bodies without the consent of the financial supervision authority. Law (2015:1029).



4 § The designated for temporary managers must meet the same requirements for suitability as referred to in Chapter 3. 2 section 4 of the Board and Chief Executive Officer.



The one that stands in such a relation to the Institute that it can discredit that he or she shall perform their duties with impartiality must not be temporary managers. It may not otherwise be any circumstance that leads to confidence in his impartiality can be dislodged.



The administrator shall promptly inform the financial supervision authority if the circumstances which may give rise to a conflict of interest for him or her.

Law (2015:1029).



Time for the management



paragraph 5 of the financial supervision authority shall appoint the interim trustee for a specified period, not exceeding one year. Time may be extended by a maximum of one year at a time. Law (2015:1029).



Dismissal of the administrator



paragraph 6 of the financial supervision authority may, with immediate effect, to distinguish the


temporary administrator from their mission. If an administrator asks to be relieved and shows the reasons for it, the financial supervision authority may discharge the liquidator.

Law (2015:1029).



15 (b). /Kapitlet entry into force: 2016-02-01/decisions on intervention and a temporary administration in the areas of cross-border groups



section 1 When the FSA is consolidating supervisor, shall inform the European banking authority inspection and shall consult with the competent authorities of the College for the group, if the parent company in the EEA has committed an infringement 1. of such a nature or extent specified in chapter 15.

paragraph 2 (b), or 2. that means that the conditions for the appointment of a temporary trustee under 15 a Cape. are met.



When a notification has been made pursuant to the first subparagraph, the financial supervision authority may decide to take action. When the FSA takes such a decision, shall take into account the views expressed by the inspection, the competent authorities and the effects that the decision could have on financial stability in the countries concerned in the EEA. Law (2015:1029).



section 2 of the financial supervision authority shall consult the coordinating supervisory authority, when the inspection in a situation such as that given in paragraph 1 first subparagraph intends to take action against a subsidiary of a parent undertaking within the EEA.



When consultation has taken place, the financial supervision authority may decide to take action. When the financial supervisory authority makes the decision, the supervisory authority shall take into account the views expressed by the consolidating supervisor and, where appropriate, by other competent authorities. The inspection should also take into account the impact of the decision might have on financial stability in the countries concerned in the EEA. Law (2015:1029).



3 § If both the financial supervisory authority and other competent authorities intend to take measures against companies in the same group, the financial supervision authority within five days from notification under section 1 of the consolidating supervisor, try to agree with the coordinating supervisory authority and other competent authorities, that the action should be coordinated, or that the same temporary trustee shall be appointed for the companies.



If the authorities agree, the financial supervisory authority in accordance with the agreement take the decisions necessary.



The first and second subparagraphs shall also apply when the FSA is consolidating supervisor. Law (2015:1029).



section 4 If an agreement referred to in paragraph 3 is not met within five days from the notification, the financial supervisory authority take a decision on the measures referred to in paragraph 1 or 2 are to be taken.



When the FSA examines a matter referred to in the first subparagraph, shall take into account the comments made to the inspection by the competent authorities and the effects that the decision could have on financial stability in the countries concerned in the EEA. Law (2015:1029).



§ 5 If any competent authority before the end of the consultation period referred to in paragraph 1 or 2, or the expiry of the five-days period referred to in paragraph 3 has referred a case of krisavvärjande actions to the European banking authority in accordance with article 19(3) of Regulation (EU) no 1093/2010, in wording in accordance with European Parliament and Council regulation 806/2014/EU, the Swedish financial supervisory authority (finansinspektionen) defer their decision according to 1 , 2, 3 or 4 sections with three days and await the decision that the European banking authority may take under article 19(3) of that regulation. The FSA should follow a decision in the matter of the European banking authority.



The krisavvärjande measures falling within the scope of the first paragraph is the requirement that



1. the Institute's leadership is taking some measures to strengthen the financial position of the Institute,



2. the Institute's management establishes a negotiating plan of rescheduling, or 3. the Institute will change their legal and operational structures.



The FSA may not refer such matter to the European banking authority in accordance with Chapter 13. 6 (b) § after-day period has expired or an agreement has been reached. Law (2015:1029).



16. Appropriations



1 §/expires U: 2016-02-01/Government or authority the Government determines

may provide for



1. what information a credit institution must provide to their

customers or to those who Institute offers its

services,



2. the requirements for participation in the

the management of a credit institution as referred to in Chapter 3. paragraph 2 of the first

paragraph 4 and 5 to chapter 14. 2, paragraph 1,



3. the records may be included in the initial capital under 3

Cape. 5 – 7 sections,



4. the measures that the credit institution should take to

meet the requirements for solvency and liquidity, risk management,

transmitted light, systems for handling data on depositors

and their deposits, soundness as well as guidelines and

instructions referred to in Chapter 6. 1 to 5 sections,



5. the credit institution's diversity policy when filling

Board of Directors as well as resources for the introduction and training of

Board members,



6. What are the restrictions that apply when a banking company

or a credit market company receives its own shares or

shares of its parent company as deposit according to 10. section 12,



7. what information a credit institution and such

foreign credit institutions which established the branch office in Sweden to

submit to the financial supervision authority for its regulatory activities,

and



8. such fees for supervision referred to in chapter 13. section 16.

Law (2014:982).



the entry into force of § 1/in: 2016-02-01/Government or authority that the Government may provide for



1. what information a credit institution shall disclose to its customers or to those who Institute offers its services, 2. the requirements for participation in the management of a credit institution as referred to in Chapter 3. 2 paragraph 4 and 5 to chapter 14. 2 section 1, 3. the records that may be included in the initial capital in accordance with Chapter 3. 5 – 7 sections, 4. the measures that the credit institution should take to meet the requirements of solvency and liquidity, risk management, transparency, systems for handling data on depositors and their deposits, soundness as well as guidelines and instructions referred to in Chapter 6. 1 to 5 sections,



5. the contents of a recovery plan according to 6 a kap. 1 § and a consolidated recovery plan according to 6 a kap. section 2, when the plans will be drawn up and how often they should be updated,



6. the content of an application for approval of agreements regarding intercompany financial support provided under the 6 (b). section 3(1),



7. what the decision of the Board of Directors of the sponsoring company pursuant to Chapter 6 (b). § 8 shall contain,



8. the contents of a notification of the granting of intercompany financial support provided under the 6 (b). section 11,



9. publication of information under Chapter 6 (b). section 16,



10. the credit institution's diversity policy in the appointment of the Board of Directors as well as resources for the induction and training of Board members, 11. What are the restrictions that apply when a banking company or a credit market company receives its own shares or shares of its parent company as deposit according to 10. section 12,



12. what information a credit institution and such foreign credit institutions which established a branch in Sweden must submit to the financial supervision authority for its regulatory activities, 13. the credit institution shall establish registers referred to in chapter 13. 8 a of, what registry should contain and the time within which the credit institution shall submit the registers for different types of agreements, and



14. such fees for supervision, requests, notifications and notifications referred to in chapter 13. section 16. Law (2015:1029).



2 §/expires U: 2016-02-01-the Government may provide for the handling of

authorization – according to chapter 14. 1, 2, and 2 b section.

Law (2009:361).



2 section/entry into force: 2016-02-01-the Government may provide for



1. the FSA's handling of the application for approval of agreements regarding intercompany financial support provided under the 6 (b). and of notification of the granting of such aid, and 2. examining licensing cases according to chapter 14. 1, 2, and 2 b section. Law (2015:1029).



Chapter 17. Appeal



section 1 of the FSA's decision under Chapter 13. section 12 and 15

Cape. 9 section 18 a of the third paragraph and may not be appealed.



Finansinspektionen's decision referred to in Chapter 10. 1 section

paragraph 1 may be referred to the Government.



Other decisions by the Swedish financial supervisory authority under this Act may

be appealed to the administrative court. However, this does

No decision in the matters referred to in section 20, first paragraph 5

administrative law (1986:223).



Leave to appeal is required for an appeal to

the administrative court.

The inspection may determine that a decision on

prohibition, injunction or withdrawal shall apply

immediately. Law (2015:184).



1 a of the tax agency's decision pursuant to Chapter 10. 40 (a) and 12.

24 a of may be appealed to the administrative court.



Leave to appeal is required for an appeal to the administrative court.

Law (2009:711).



paragraph 2 of the decision in a case if the condition referred to in Chapter 3. section 2 of the

not be notified within six months of the date on which the application was filed,

should the applicant of the public authority shall examine the application

be informed of the reasons for this. The applicant may then request

Declaration by the Court that the matter unnecessary residence.



If the FSA does not leave over a notice

referred to in Chapter 5. paragraph 2 of the first subparagraph to the competent authority in

abroad within three months from the date the notification was


received and also not within the same time notify the decisions taken under

the third paragraph of the same section, the supervision authority shall inform the

the applicant of the reasons for this. The applicant may then request

Declaration by the Court that the matter unnecessary residence.



A request for a declaration referred to in the first or second

subparagraph shall be made in the General Administrative Court.

Leave to appeal is required for an appeal to

the administrative court.



If the Agency has not announced a decision

referred to in the first subparagraph within six months of a

explanation has been provided, the application shall be deemed to have been rejected. If a

notification referred to in the second subparagraph have not been handed over

within three months of the submission of a declaration,

decision under Chapter 5. section 2 of the third paragraph shall be deemed to have been notified.

Team (2013:455).



Transitional provisions



2004:297



Regulations concerning the entry into force of this law will be given in the law

(2004:298) for the inclusion of Act (2004:297) on banking and

financing business.



2006:612



This law shall enter into force on 18 August 2006. If an application has

received before that date applied older rules

If



1. permit for execution of a merger proposal at

the formation of an SE by merger under article 2.1 SE

Regulation, and



2. authorization to transfer of registered office pursuant to article 8 of the SE-

the regulation.



2007:316



This law shall enter into force on 1 July 2007. Older provisions

However, if the merger plan has taken effect in

the parent company before that date.



2008:7



This law shall enter into force on 15 February 2008. Older

rules apply, however, in the case of mergers, where the merger agreement

established before the entry into force.



2008:601



1. this law shall enter into force on 1 January 2008.



2. Older provisions apply in the case of mergers as at

entry into force are tested under the Competition Act (1993:20) or

banned under the law.



2009:361



1. this law shall enter into force on 1 July 2009.



2. in the case of applications for an authorisation as referred to in Chapter 3. section 2 of the

or Chapter 14. paragraph 1 of which has been received by the Swedish financial supervisory authority

before its entry into force, older provisions apply.



3. at its entry into force holds shares or

participation in a credit institution to the extent that he or

She would have been required to apply for authorisation under

Chapter 14. Article 1, first paragraph if the shares had been acquired after

its entry into force shall, if not previously

granted, report their holdings to the FSA last

november 2, 2009.



2009:616



1. this law shall enter into force on 1 July 2009.



2. An authorization for a credit market company to operate

finance law in force at the entry into force,

continue to apply.



2009:711



1. This law shall enter into force on 15 July 2009.



2. Older provisions apply in the case of mergers, where

merger or merger agreement is established before

the entry into force. Older rules also apply in the case of

the European company and the European cooperative movement of the seat where the

the annual general meeting or general meeting's decisions about moving

has been taken prior to entry into force.



2011:898



1. this law shall enter into force on 1 January 2011.



2. Older regulations apply where an application has been received by the

the District Court prior to the entry into force.



2013:165



1. This law shall enter into force on 25 april 2013.



2. Older provisions apply to cases that have come into

to the companies registration office before entry into force.



2013:455



1. this law shall enter into force on the 15 July 2013.



2. Older provisions apply to cases that have come into

Swedish financial supervisory authority (finansinspektionen) before entry into force.



2014:982



1. this law shall enter into force on the day the Government determines in

question about Chapter 13. 6 c and 7 sections and 15 Cape. section 15 and otherwise

on August 2, 2014.



2. Older regulations apply for infringements that occurred

before the entry into force.



2015:184



1. this law shall enter into force on May 1, 2015.



2. Older regulations apply to infringements that took place

before the entry into force.

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