Insurance intermediary Skandinavisk Kapitalförvaltning AB has had serious deficiencies in its operations. The company has not complied with the rules in place to create sound consumer protection. Finansinspektionen (FI) is therefore withdrawing the authorisation of the company. The decision enters into effect immediately.
Skandinavisk Kapitalförvaltning has had serious deficiencies in its operations. The company has, among other factors, allowed employees to mediate insurance, despite them lacking sufficient knowledge and competence. Neither has the company procured sufficient information about the customers, and has hence not tailored its advice to the needs of the individual customer, which it is obliged to do. The company has therefore risked providing advice that has not been suitable for the customers.
Skandinavisk Kapitalförvaltning has not informed customers either of the remuneration it has received from other firms, and which has been associated with the product about which the company has provided advice. The company has also had deficiencies in its documentation of the advice. Hence, it has not been possible to follow up whether the customers of the company have been recommended products suitable for them. On the whole, the deficiencies are so serious that FI is withdrawing the authorisation of Skandinavisk Kapitalförvaltning. The decision enters into effect immediately.