Since the publication of the stability report last autumn, inflation has slowed somewhat in the large economies but is still significantly higher than the central banks’ inflation targets. Monetary policy has therefore been tightened further, and interest rates continued to rise. High inflation and rising interest rates mean that the forecasts for global economic development continue to be weak.
Finansinspektionen has decided to issue an injunction to the currency exchange company My Change Scandinavia AB (My Change) to immediately cease its operations. The reason is extensive and severe deficiencies in the firm’s work to combat money laundering and terrorist financing.
Finansinspektionen is issuing an injunction to My Change Scandinavia AB (My Change) to cease its currency exchange operations. It shall have ceased its operations no later than 24 August 2023.
During 2022, the International Monetary Fund (IMF) carried out a special assessment of the financial sector in Sweden, a so-called FSAP (Financial Sector Assessment Program). FSAPs are conducted regularly for member countries with systemically important financial markets. The most recent FSAP for Sweden by the IMF was in 2016.
The payment system is a critical function. FI supervises clearing organisations for payments, payment institutions, registered payment service providers, financial institutions, electronic money institutions and registered electronic money issuers.
As of 1 March, we have a new heading in the main navigation panel of our website: Payments. Here you will find all information related to activities within the payments sector.
A firm offering financial services to the general public must have authorisation from FI to conduct operations.
Here you will find regulations for the types of firms listed to the left, including Swedish acts and ordinances, the current regulations from FI and various EU regulations.
FI will create a new operational section to focus on payments and preparedness.
Providing payment services requires authorisation from FI. An entity with a turnover for payment services exceeding an equivalent of EUR 3 million per month must have authorisation to conduct payment services operations and is referred to in the Act as a “payment institution”. An entity with a turnover less than this amount may apply to be exempt from the authorisation obligation and is referred to as a “registered payment service provider”.