INTERNATIONAL: China and Sweden Sign MoU

Thursday May 16 2019

On 13th May 2019, the Finansinspektionen (FI) announced that it has signed a new memorandum of understanding with the China Banking and Insurance Regulatory Commission (CBIRC).

FI previously signed an agreement with the Chinese banking authority in 2014, but as China has now merged the country’s banking and insurance inspections into an authority, FI has now signed an agreement with the new authority.

The agreement, which is not legally binding, means that FI and China will cooperate in the supervision of Swedish banks and insurance companies active in China and vice versa. FI has previously entered into similar cooperation agreements with several other countries’ supervisory authorities.

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