Sweden's Finansinspektionen has launched a consultation proposing to repeal its regulations and general guidelines for firms carrying on certain consumer credit business, following the government’s proposal to repeal the Act on certain consumer credit business (LVK) from 1 July 2025. If LVK is repealed, Finansinspektionen proposes to withdraw all provisions it has issued under the related ordinance. Transitional arrangements in the proposal would keep the existing rules applicable to firms that held a LVK authorisation before the change and that continue operating under LVK during a transition period. The consultation package also includes proposed amendments to Finansinspektionen’s rules on ownership, ownership-management and management fit-and-proper assessments in certain financial undertakings. Written comments are due by 2 May 2025, and the proposed repeal and related amendments would enter into force on 1 July 2025.
Finansinspektionen 2025-04-04
Sweden's Finansinspektionen consults on repealing its rules for certain consumer credit businesses ahead of the proposed LVK repeal
Finansinspektionen has initiated a consultation to repeal its regulations and guidelines for firms engaged in certain consumer credit business, contingent on the government's proposal to repeal the Act on certain consumer credit business (LVK) effective 1 July 2025. The proposal includes transitional arrangements for firms with existing LVK authorisations and amendments to rules on ownership and management assessments in financial undertakings.