The Government has proposed that the Swedish Financial Supervisory Authority should have the right to take action against foreign credit institutions in the European Economic Area (EEA) operating from a branch in Sweden in cases of violation of the Anti-Money Laundering Act. Today, the Authority has only limited possibilities to take action as it has to contact the relevant authority in the particular home country concerned in such cases.
Another legislative amendment is that the requirement to investigate the real beneficial owner of a customer will not apply if the customer is a limited company whose shares are noted in a regulated market in the EEA or an equivalent market outside the EEA. Furthermore, the present requirement to appoint an alternative beneficial owner will not apply if the customer is a state, a region or a municipality and the risk for the customer is low.
The new regulations will come into force on 1 and 2 January 2020. The Riksdag voted in favour of the Government's proposal.