Heads of the Nordic and Baltic financial supervisors met today in Stockholm. They agreed on measures to enhance the cooperation between the authorities with the aim of fighting money laundering and terrorist financing.
The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden as well as relevant European Union authorities. A staff member of the International Monetary Fund observed the simulation.
FI is publishing today three reports on sustainability. The reports show that the work with sustainability is progressing on several fronts and that the industry’s own initiatives, where relevant, are working. But there is still a lot of work left to be done. FI is also publishing a follow-up report for the Government on FI's work with sustainability-related matters in 2018.
The members of the international Network for Greening the Financial System (NGFS) acknowledge in their first report that climate-related risks are a source of financial risk. The Network therefore clarifies that it is within the mandates of central banks and supervisors to ensure the financial system is resilient to climate-related risks.
FI has updated the instructions and FAQs about the periodic reporting firms under Finansinspektionen’s supervision are required to file according to the Anti-Money Laundering Act.
FI has translated into English its educational videos about efforts to combat money laundering and terrorist financing.
The Swedish Ministry of Finance, the Riksbank, Finansinspektionen (the Swedish Financial Supervisory Authority) and the Swedish National Debt Office in its role as resolution authority, have produced, together with their equivalents in Denmark, Estonia, Finland, Iceland, Latvia, Lithuania and Norway a new Memorandum of Understanding on cooperation and coordination on cross-border financial stability.
The international Network for Greening the Financial System (NGFS) held its inaugural meeting in Paris last week.
Finansinspektionen (FI) received a mandate from the Government to propose a capital requirement regulation for undertakings providing occupational retirement. The objective is to provide comprehensive protection for consumers (beneficiaries) while at the same time enabling effective management of occupational pensions.
On 1 August, the new Money Laundering Act entered into force as well as FI’s new regulations. According to these new regulations, firms under FI’s supervision must report data that enables FI to assess the risk that firms will be used for money laundering and the financing of terrorism.