Finansinspektionen
Encyclopedia
Finansinspektionen(Financial Supervisory Authority in English) is the Swedish
government agency
responsible for financial regulation
in Sweden
. It is responsible for the oversight, regulation and authorisation of financial markets and its participants. The agency falls under the Swedish Ministry of Finance
and regulates all organisation that provide financial services in Sweden.
in relation to financial products. One of its tasks is monitoring for instability that will negatively affect Swedish financial system. If it believes that this is the case it has a duty to report that to the Swedish government
who are responsible for taking any action.
The Authority has three main activities:
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
government agency
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
responsible for financial regulation
Financial regulation
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system...
in Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
. It is responsible for the oversight, regulation and authorisation of financial markets and its participants. The agency falls under the Swedish Ministry of Finance
Ministry of Finance (Sweden)
The Ministry of Finance is a Swedish government ministry responsible for matters relating to economic policy, the central government budget, taxes, banking, security and insurance, international economic work, central, regional and local government....
and regulates all organisation that provide financial services in Sweden.
History
FI was formed 1991 to create a creating a single integrated regulator covering banking, securities and insurance in Sweden. This was done with the merging of the former banking and insurance supervisory bodies. These were the Insurance Supervision Authority and the Bank Inspectorate .Responsibilities
FI primary responsibility is market stability and the monitoring of financial markets and participants. It also has a responsibility to provide consumer protectionConsumer protection
Consumer protection laws designed to ensure fair trade competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional...
in relation to financial products. One of its tasks is monitoring for instability that will negatively affect Swedish financial system. If it believes that this is the case it has a duty to report that to the Swedish government
Government of Sweden
The Government of the Kingdom of Sweden is the supreme executive authority of Sweden. It consists of the Prime Minister and cabinet ministers appointed by the Prime Minister. The Government is responsible for their actions to the Riksdag, which is the legislative assembly...
who are responsible for taking any action.
The Authority has three main activities:
- Issue of permits to companies that wish to provide financial services
- Designing rules and regulations for financial activities
- Supervision of these rules and the performance of risk assessments
Organisation structure
FI is a Swedish government central administrative authority that falls under the Swedish Ministry of Finance. It is run by an eight member board which is appointed by the government. This includes the head of the agency 'the Director General'.Director Generals
- From 15 January 2009; Martin Andersson
- June 2008 – 14 January 2009; Eric Saers (Acting Director General)
- 2003 – May 2008; Ingrid Bonde
- 1993 – 2002; Claes Norgren
- 1991 – 1993; Anders Sahlén
See also
- Financial regulationFinancial regulationFinancial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system...
- Government agencies in SwedenGovernment agencies in SwedenThe Government agencies in Sweden are state controlled organizations who act independently to carry out the policies of the Swedish Government. The Government Ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions but not by direct...
- Securities CommissionSecurities CommissionSecurities Commission a statutory body entrusted with the responsibility of regulating and systematically developing the capital markets in Malaysia.-History:...