Finansinspektionen: Financial supervision in Sweden

When choosing a brokerage company or investment fund trader it is necessary to take into account what regulators control the activities of these organizations. After all, if a company offers the opportunity to make solid profits, but its activities are not regulated, the likelihood of honest cooperation is low. For this reason we decided to pay your attention to such European regulator as Finansinspektionen. It functions in Sweden and the magazine fortrader.org has prepared the most up-to-date information for you.

 

Implementing financial supervision in Sweden through Finansinspektionen

• Full nameThe Swedish Financial and Insurance Supervisory Authority.
• Title at EnglishFinancial Supervisory Authority (Sweden).
• Abbreviated title: Finansinspektionen, FI.
• Subordinate countries: Sweden.
• Funding: at the expense of the state budget.
• Degree of trust of tradersAverage.
• Official website: www.fi.se

This Office is a public institution engaged in controlling the activities of financial companies. Its task is to regulate the activities of business structures in the financial markets and ensure the safety of their clients' capital. The authority of the Authority is regulated by the Ministry of Finance of the country.

Creation date Finansinspektionen was in 1991, when the government set a goal for the Ministry of Finance to organize an integrated regulatory structure, whose activities cover the banking, stock exchange and insurance sectors in Sweden. This goal was achieved by combining the functions of several institutions involved in supervising the activities of banks and insurance companies.

As far as the duties of the Authority are concerned, they are limited to ensuring the stability of the financial markets and the safety of their participants. It is also responsible for ensuring the protection of consumer rights in relation to any financial products. Also Finansinspektionen must constantly monitor the financial situation in the country in order to prevent possible market instability in advance. In this respect, the Ministry of Finance is the main authority (takes the final decisions), and FI - only an informant.

In accordance with the regulations of the Ministry of Finance of Sweden Finansinspektionen acts in three main directions:

• development of service rules for financial companies;
• issuance of permits to organizations engaged in banking, credit, investment, and insurance industries;
•  monitoring compliance with the rules;
• assessment of the degree of risk and stability of the country's financial sector.

The structure of the Office is represented by eight members of the Board, including the Director. They are all appointed by the government (Ministry of Finance). In addition to the upper management echelon, the organization has about 300 employees.

As you can see, on the Finansinspektionen is entrusted with the main supervisory functions over the activities of financial and insurance organizations in Sweden. The activity of the Office is strictly regulated by the Ministry of Finance and greatly facilitates the solution of tasks monetary policy governments. The degree of confidence traders have in the FI is quite high, because it is centrally controlled.

Other Exchange Regulators

• FSCL: Independent Control in New Zealand
• Finpotrebsoyuz: Union for the Protection of Consumer Rights in Financial Services
• Financial Supervision of Mauritius
• NFA: National Futures Association
• SEC: U.S. Securities and Exchange Commission
• KROUFR: the first Russian regulator
• CFTC - Commodity Futures Trading Commission of the United States
• AFM is the Dutch financial regulator