Corporate governance

Corporate governance

FOREX AB is a payment institution based in Stockholm. The purpose of corporate governance in FOREX is to provide good conditions for active and responsible ownership, a clear division of responsibilities between the various corporate bodies and good and transparent communication with FOREX's various stakeholders.

Payment service operations are regulated by law and may only be conducted after permission from the Swedish Financial Supervisory Authority. The Swedish Financial Supervisory Authority supervises FOREX's operations in Sweden and in the other Nordic countries where FOREX conducts branch operations.

Branch means that the foreign business is part of the Swedish legal entity. In the branches, FOREX's operations are also subject to limited supervision by the Swedish Financial Supervisory Authority's counterpart in each branch country. Supervision is coordinated by the Swedish Financial Supervisory Authority.

The meaning of the supervision is that FOREX must submit to the Swedish Financial Supervisory Authority a comprehensive report regarding, among other things, FOREX's organisation, internal control, financial position and information to its customers. If necessary, Finansinspektionen can also make site visits both in Sweden and in the branches.

In addition to legal regulation and the Swedish Financial Supervisory Authority's regulations and general guidelines, FOREX has a large number of policies and instructions that provide the overall framework for the management of the business. Policies are decided annually by the FOREX Board of Directors. Instructions and procedures are decided by the management and together they provide the overall framework.

Operational activities are conducted in four units, in Sweden, Denmark, Finland and Norway. The head office with management and staffs is located in Stockholm.