Stockholm Stock Exchange supports the principles for self-regulation highlighted by the Commission on Business Confidence. This means, among other considerations, that rules should be formulated in an open manner and that the body formulating the rules must be representative of the participants in the market.
The Exchange is critical to the Government’s participation in the administration of the code of corporate governance. The main reason for this criticism is that the Government’s participation in a self-regulating body would give rise to ambiguity in relation to the Government’s role as a legislator. Stockholm Stock Exchange notes that this would contravene the principles for self-regulation that the Commission itself has proposed should apply.
The Exchange welcomes the proposals regarding the procedures and increased resources proposed by the Commission in respect of justice-administration authorities. For example, providing the Economic Crime Bureau with sufficient capabilities to effectively combat economic crime is essential from the viewpoint of public confidence.
“From Stockholm Stock Exchange’s viewpoint, the question of confidence is of vital importance. We have been working for a long time to increase public confidence in the Swedish securities market and that is why we welcome the comprehensive mapping of these matters that has been conducted by the Swedish Commission on Business Confidence. We hope that the Commission’s efforts will stimulate further debate about these important matters,” says Henrik Paulsson, Acting President of Stockholm Stock Exchange.
