The Swedish Financial Supervisory Authority has amended several regulations and general guidelines for currency exchange, electronic money and payment services, updating its framework to reflect legislative changes adopted to counter misuse of alternative payment systems. The changes move currency exchange from a registration requirement to an authorisation requirement, remove the possibility of exemptions from authorisation for issuing electronic money, and narrow the authorisation exemption for payment services so that it remains only for account information services. The package also updates requirements for payment institutions and electronic money institutions that provide payment services not linked to the issuance of electronic money. When calculating capital requirements under Method A or B, institutions must now use the 12-month period immediately preceding the calculation date instead of the 12-month period corresponding to the most recent financial year. Most amendments enter into force on 1 July 2025, with certain provisions taking effect on 1 January 2026. Registered payment service providers and registered electronic money issuers that may continue operating during a statutory transition period must apply the previous rules for that period.
Finansinspektionen 2025-05-14
Swedish Financial Supervisory Authority amends payment, e-money and currency exchange rules to align with new licensing regime and capital calculation changes
The Swedish Financial Supervisory Authority revised regulations for currency exchange, electronic money, and payment services to prevent misuse of alternative systems. Key changes include requiring authorisation for currency exchange, removing electronic money exemptions, narrowing payment service exemptions to account information services, and updating capital requirement calculations to use the preceding 12-month period.