On September 26, 2024, following its previous update, the SCB shared an updated XSD schema for KRITA reporting. All changes will take effect on December 31, 2024.

Regulator Web Page

Overview: This law regulates the securities market and Sweden and transposes EU regulations, including MAR, into law.

First Chamber 
Preliminary Provisions 
Chapter 1. General provisions 
Notification 
Section 15 A person who is an employee or contractor of a stock exchange and who can normally be assumed to have access to inside information must notify the employer in writing of holdings of financial instruments and changes in their holdings. 

Chapter 8: Rules of movement 
Market surveillance 
Section 21 An investment institution that is licensed to operate a trading platform or that otherwise organizes trading in financial instruments in accordance with Chapter 2. 1 § 1 shall: 1. monitor trading and price formation; 2. ensure that trading is conducted in accordance with the rules of the institution, this law, other regulations and fair securities market practice; and 3. Be able to detect system interruptions. 

At the request of the Financial Supervisory Authority, the Securities Institute shall give the Supervisory Authority access to its system for monitoring trading and price formation. 
The securities institution shall immediately notify the Financial Supervisory Authority of: 1. significant breaches of trade rules; 2. unfair market conditions, 3. behavior that may indicate infringements of the Market Abuse Regulation, and 4. system interrupts. Act (2017:679). 

Algorithmic trading 
General requirements  
Section 23 An investment firm engaged in algorithmic trading … The investment firm shall also have in place effective risk control systems and measures to ensure that trading systems cannot be used for any purpose contrary to the Market Abuse Regulation or to the rules of a trading venue to which the institution is affiliated. 

Direct electronic access 
Section 28 An investment firm providing direct electronic access to a trading venue shall have in place effective systems and controls to ensure that: 1. the suitability of customers using the service is assessed and reviewed appropriately; 2. customers using the service are prevented from exceeding pre-set trading and credit thresholds; 3. trading conducted by clients using the service is appropriately monitored;  and 4. Appropriate risk control prevents trading that may create risks for the institution itself or that could create or contribute to a disorderly market or contravene the Market Abuse Regulation or the rules applicable to the trading venue. Act (2017:679). 

Section 29 An investment institution providing direct electronic access … The investment institution shall monitor transactions in order to detect violations of this Act, unfair market conditions or conduct that may involve market abuse and which must be reported to the Financial Supervisory Authority. 

Chapter 11: Special provisions for a trading platform 
Publisher's duty to provide information 
Section 7 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC lays down rules on the obligation for issuers to disclose inside information. Act (2016:1313).

Growth market for small and medium-sized enterprises 
Section 13 An investment firm operating an MTF may apply to the Swedish Financial Supervisory Authority to have the platform registered as a growth market for small and medium-sized enterprises. The Financial Supervisory Authority shall approve the application for … 5. issuers and persons discharging managerial responsibilities with them, as well as persons closely associated with the issuers and persons discharging managerial responsibilities within the issuers, comply with the requirements of the Market Abuse Regulation; 6. prudential information relating to issuers is stored and disseminated to the public; and 7. There are effective systems and controls aimed at preventing and detecting market abuse in accordance with the requirements of the Market Abuse Regulation. Act (2019:419).

Chapter 13. Activities of the stock exchange 
Section 1(g) An exchange shall ensure that the fee structure applied by the exchange is transparent, fair and non-discriminatory and does not create incentives to place, amend or cancel orders or carry out transactions in a way that contributes to unfair trading conditions or market abuse.

Trading rules and market surveillance 
Section 7 of the Exchange shall supervise trading and price formation on a regulated market that it operates and ensure that trading is conducted in accordance with this Act and other regulations and good practice in the securities market. The exchange should also be able to detect system outages.

The exchange shall immediately notify the Swedish Financial Supervisory Authority of: - significant breaches of the trading rules, - unfair market conditions and behavior that may indicate violations of the Market Abuse Regulation, and - system interruptions. 
At the request of the Financial Supervisory Authority, the Exchange is obliged to give the Supervisory Authority access to its system for monitoring trading and price formation. Act (2017:679). 

Chapter 15: Admission of financial instruments to trading, etc. 
Issuer’s obligation to provide information, etc. 
Section 7 of Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council lays down rules on the obligation for issuers to disclose inside information.  
Act (2016:1313).

Chapter 15a. Position limits and management of positions relating to commodity derivatives and emission allowances 
Setting position limits 
Section 1 The Government or, after authorization by the Government, the Financial Supervisory Authority may issue regulations setting quantitative thresholds (position limits) … Position limits shall be transparent and non-discriminatory, aimed at preventing market abuse and promoting orderly pricing and settlement. 

Chapter 22. Suspension of trade, etc. 
Trading halt 
Section 1 of the Swedish Financial Supervisory Authority shall, following a notification of a trading halt in accordance with Chapter 11. Section 12, fourth paragraph, or Chapter 13. Paragraph 7(a), fourth paragraph, decide as soon as possible whether the suspension of trading shall continue, if it is due to: 1. suspected market abuse; 2. a takeover bid; 3. that investors do not have sufficient access to information about the issuer or the financial instrument; or 4. that the issuer's position is such that trading would harm investors' interests. 

Chapter 23: Supervision 
Supervision and its scope 
Securities institutions, stock exchanges and such foreign companies that are authorized to operate a regulated market from a branch in Sweden shall provide the Swedish Financial Supervisory Authority with such information about issuers as is related to the verification that the issuers fulfil their disclosure obligation under Article 17 of the Market Abuse Regulation in accordance with regulations issued pursuant to the Act. 

Overview: These regulations apply to securities exchanges, clearing organizations, investment firms, firms whose transferable securities are admitted to trading on a regulated market or MTF and issuers of such transferable securities. They contain provisions regarding market surveillance. 

Chapter 5: Market surveillance at a securities exchange

• Scope 
• Resources and expertise 
• Monitoring trade and price formation 
• Monitoring participants 
• Monitoring the issuer’s information obligations 
• Monitoring financial instruments 
• Monitoring documentation and reporting 
• Monitoring recurring financial information 
  • Enforcement 
  • European cooperation 
  • Actions in the event of infringements 
  • Documentation and reporting 

Chapter 6: Market surveillance at a securities institution 
Scope 

• Resources and expertise 
• Surveillance 
• Documentation and reporting