Authorisation from FI or registration only?

The company register includes:

  • Companies and persons authorised to offer financial services. They come under FI's supervision.
  • Financial institutions and deposit companies, including savings and loans associations.

They are only registered, and do not come under FI's supervision.

Companies under FI's supervision

In order to run a company that offers financial services, in most cases authorisation from FI will be required. This applies to banks, payment services companies, exchange and clearing houses, fund companies, funds, insurance companies, insurance intermediaries, building societies, credit-market companies, electronic money issuers and investment firms.

When FI has received an application, we verify factors including the company's access to capital, business plan, owners and management.

A company that has received authorisation comes under FI's supervision. FI's supervision of companies is conducted based on an assessment of the risk in different operations and how large the negative consequences might be if something goes wrong.

Registered companies – not under FI's supervision

The following categories of companies do not need to apply for authorisation from FI to conduct their business. It is sufficient that they apply to register their business.

  • Financial institutions
  • Deposit companies (including savings and loans associations)

In connection with registration, FI verifies, among other factors, owners and management.
For deposit companies and savings and loans associations, it is also checked whether they meet the requirements in terms of equity, and that they will inform future customers that deposited funds are not covered by the deposit guarantee scheme. The companies are allowed to receive a maximum of SEK 50,000 per consumer.

At least once a year, FI thus verifies that the registered companies meet the requirements imposed upon them. A registered company is obliged to submit the information that FI requests, for instance regarding anti-money laundering measures. FI must be notified of any changes in management or in a qualifying ownership holding of a registered company. FI has the right to conduct on-site evaluations at financial institutions, but not at deposit companies and savings and loans associations.

If a registered company does not comply with prevailing legislation, FI has the ability to order the company to terminate its operations.

Financial institutions conduct currency exchange or other financial operations, such as lending.

If a company is registered, this is shown in the "Category" row (the text in brackets in the image below). For companies under FI's supervision, there is no text in the brackets in the row; it merely states the category to which the company belongs.

Last reviewed: 2018-05-18
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