Finansinspektionen (FI) has conducted a survey of how insurance undertakings are performing their own risk and solvency assessments. FI is of the opinion that many undertakings’ assessments can be improved.
FI has surveyed 25 funds of funds managed by 25 fund management companies and AIF managers. FI has scrutinised how the consumer is informed about fees and how the managers have reported their funds of funds’ objectives and performance.
Finansinspektionen (FI) has conducted a survey of the management of market risks by savings banks and of their holdings in financial assets. FI’s assessment is that the majority of savings banks are managing their market risks in an acceptable manner.
Several banks are working to develop and enhance their information and cyber security. Some have not yet fully adapted their work to the changed conditions introduced by increased digitalisation and an increased level of cyber threats. FI expects that the banks will continue to focus on developing their information- and cyber security abilities, and keep managing and monitoring their information and cyber risks.
In general, the insurance undertakings employ adequate governance and control practices in their ICT operations. But FI has also observed that some undertakings have difficulties identifying and managing the consequences of outsourced ICT operations.
The banks give greater consideration to sustainability aspects in their lending to corporates. However, FI sees a need for more transparency and comparability in the area of sustainability.
The fund industry has created through its self-regulation an information standard that fund managers must use when providing the information needed for a consumer to understand a fund’s management with regard to sustainability. Finansinspektionen (FI) conducted a survey in the summer of 2018 to follow up on and evaluate the industry’s self-regulation in the area.
Over the past year, FI has primarily intervened against small-volume trading and ”wash trades” that were carried out deliberately or negligently by private individuals. The financial undertakings’ reporting plays a key role in FI’s possibilities for intervening against market abuse. FI’s cooperation with EBM has contributed to the development of this work. These are the three conclusions in FI’s report, Market Abuse 2017–2018.
Pursuant to the Supervision of Public-Interest Entities (Audit) Act (2016:429), FI is responsible for conducting certain audit supervision activities. FI has conducted an investigation into this supervisory area in 2017. This report provides an overview of the investigation’s results and describes FI’s view on how the regulations can be applied.
It is FI’s assessment that firms in general have a greater awareness of the regulations than in previous investigations and are committing more resources to their work to prevent money laundering. But more needs to be done.