Proposal for a new order for enforcement of financial information for listed companies

By March 23, 2018September 20th, 2018No Comments

In the proposal referred to the Council on Legislation for consideration A new order for enforcement of financial information it is proposed that the requirement put on the market places to supervise the regular financial information that listed companies publish shall be removed.

Instead, an option for split responsibility for supervision is proposed, through which the day-to-day supervision is handed over to an independent surveillance body. The Swedish Financial Supervisory Authority (Sw. Finansinspektionen) shall however retain the ultimate responsibility and keep their authority in deciding on interventions in case of violations. The independent surveillance body shall be authorised to issue a fee from the supervised listed companies to fund the surveillance. The Swedish Financial Supervisory Authority has previously stated that the supervision should be delegated to The Swedish Financial Reporting Review Council, a body within The Association for Generally Accepted Practice in the Securities Market.

The amendments according to the proposal are proposed to take effect on 1 January 2019.

For further information, please see the following link (in Swedish):