| Financial Supervisory Authority | |
|---|---|
| Finansinspektionen | |
| Agency overview | |
| Formed | 1991 |
| Jurisdiction | Sweden |
| Headquarters | Stockholm, Sweden |
| Employees | 250 [1] |
| Agency executive | Martin Andersson, Director General (Since 2009) |
| Website | |
| http://www.fi.se | |
Finansinspektionen (FI)(Financial Supervisory Authority in English) is the Swedish government agency responsible for financial regulation in Sweden. It is responsible for the oversight, regulation and authorisation of financial markets and its participants. The agency falls under the Swedish Ministry of Finance and regulates all organisation that provide financial services in Sweden.[2]
Contents |
FI was formed 1991 to create a creating a single integrated regulator covering banking, securities and insurance in Sweden. This was done with the merging of the former banking and insurance supervisory bodies. These were the Insurance Supervision Authority (Swedish: Försäkringsinspektionen) and the Bank Inspectorate (Swedish: Bankinspektionen).
FI primary responsibility is market stability and the monitoring of financial markets and participants. It also has a responsibility to provide consumer protection in relation to financial products. One of its tasks is monitoring for instability that will negatively affect Swedish financial system. If it believes that this is the case it has a duty to report that to the Swedish government who are responsible for taking any action.
The Authority has three main activities:
FI is a Swedish government central administrative authority that falls under the Swedish Ministry of Finance. It is run by an eight member board which is appointed by the government. This includes the head of the agency 'the Director General'.