The Swedish financial markets regulatory regime is a relatively liberal one. For instance, financial promotion is not in itself a regulated activity. Last year, the long-standing banking monopoly on deposit-taking was abolished; at the same time, the previous authorisation requirement for lending was repealed, to be replaced with a lighter-touch registration requirement.
The ostensible purpose behind the liberalisation has been to encourage competition. Investment advice does not require authorisation in itself, although some corporate finance activities require registration, and the provision of investment advice to consumers is subject to a statutory liability regime (with some regulatory implications). The mere promotion (excluding any actual sales) of collective investment schemes in Sweden does not require authorisation.
