On Wednesday, 19 May, the test environment of the TRS 2 system will be closed for maintenance.
FI has decided to replace several of our existing reporting systems with a new system with the aim of better meeting current and future legal requirements and enhancing user-friendliness for the companies that report via the systems. The new reporting system, FIDAC, will be used for both periodic and event-driven reporting.
Climate change is an existential threat to mankind. In order to meet this threat, we need extensive policy decisions. In particular, carbon prices must go up. The private sector and the financial market can contribute, said Finansinspektionen’s Director General Erik Thedéen at the Hållbara Finanser 2021 conference (Sustainable Finances). By already preparing now to be able to quickly report in accordance with future international standards on corporate sustainability reporting and also voluntarily using and reporting internal carbon pricing.
To reach the climate goals in the Paris Agreement, carbon emissions must go down. The most efficient way to achieve this is by raising the cost of emissions compared to today.
Finansinspektionen has an assignment to promote the financial system’s contribution to sustainable development. The sustainability report outlines the current sustainability issues that are related to the financial sector and lists examples of what FI is working on in this area.
The European Securities and Markets Authority (ESMA) has decided not to renew its decision to temporarily lower the notification threshold for when net short positions are to be notified to the relevant national competent authority.
In recent years, a number of legislative proposals and other initiatives have been presented to strengthen the financial sector’s resilience to cyberattacks. Given this background, Finansinspektionen has prepared a memorandum to describe FI’s role in terms of contributing to strong cyber security and its work to prevent cyber threats to the Swedish financial sector.
An important step has now been taken towards a global standard for sustainability reporting. The Board of Directors of the International Organization of Securities Commissions (IOSCO) voted during its meeting yesterday for IOSCO to actively work to achieve a unified and comparable global standard for sustainability disclosure. IOSCO’s work in this area is being carried out within the work group led by Finansinspektionen’s Director General Erik Thedéen.
Young borrowers and borrowers with low income run a higher risk of experiencing payment problems when they take non-mortgage loans, even if they only borrow small amounts. At the same time, the risk that consumers will get trapped in debt decreases if credit providers conduct thorough credit assessments. These are the conclusions of a new analysis from Finansinspektionen that is presented in conjunction with this year’s consumer protection report.
Paying by invoice or with other credit-based offers is becoming an integral part of shopping online. Young adults are unique with their small margins and large number of payment reminders and collection notices. Unaffordable loans are a prioritised consumer risk in this year’s report.