Sweden’s Financial Supervisory Authority issues response to Productivity Commission reports, endorsing EU rule simplification and challenging bank switching and mortgage list rate proposals

The Swedish Financial Supervisory Authority (Finansinspektionen) published its views on two reports from Sweden’s Productivity Commission, focusing on proposals that intersect with its supervisory mandate. It broadly supports the commission’s work on regulatory simplification and backs most proposals on impact assessments and follow-up of regulations, while rejecting a proposal to launch an authority-level inquiry into portability when consumers switch banks and urging a different framing of the debate on mortgage list rates. On Goda möjligheter till ökat välstånd (SOU 2024:29), Finansinspektionen limited its comments to parts of chapter 5 on regulatory simplification, agreeing with many of the commission’s assessments and highlighting the need for Swedish representatives to continue pushing simplification within the European Union. It also endorses, with some exceptions, the proposals on regulatory impact assessments and monitoring of supervisory regulations. On Fler möjligheter till ökat välstånd (SOU 2025:96), it opposed investigating account number and function portability when changing banks, and while welcoming attention to consumers’ position in the mortgage market and agreeing there are problems with list rates, it argued for greater focus on average rates and encouraged a broader analysis of how the market works, available alternatives, and associated trade-offs.