Financing the Board

The Swedish Corporate Governance Board is one of five bodies which make up the Association for Generally Accepted Principles in the Securities Market (the Association). The other constituent bodies of the Association are the Swedish Securities Council, (Aktiemarknadsnämnden); the Stock Market Self-Regulation Committee (Aktiemarknadens självregleringskommitté); the Council for Swedish Financial Reporting Supervision, (Nämnden för svensk redovisningstillsyn); and the Swedish Corporate Reporting Board, (Rådet för hållbarhets- och finansiell rapportering). 

The Association is a non-profit organisation that operates on the principle of self-regulation, which means that experts from different fields collaborate on the setting of regulations and standards, interpret regulations and review how the sector complies with regulations. The Financial Supervisory Authority (Finansinspektionen) has delegated certain tasks to two of the executive bodies; the Swedish Securities Council and the Council for Swedish Financial Reporting Supervision.

The vision of the Association is that the Swedish securities market will be one of the most well-functioning, long-term sustainable and confidence-inspiring in Europe. The Association’s mission is to pursue relevant issues that support and promote the efficiency, resilience and robustness of the Swedish securities market, which in turn benefits Sweden's corporate sector and society.

The non-profit activities of the Association, its secretariat, its wholly-owned subsidiary (Självregleringen i Sverige Service AB) and its five executive bodies provide service to the Association’s principals/members and to the business community regarding generally accepted practice in the Swedish stock and securities market.

The activities are financed by various fees, most of which come from the companies listed on the Swedish stock exchange, (Nasdaq Stockholm's Main Market). These listed companies pay a self-regulation fee to the Association and the fee is paid annually on an ongoing basis in advance. The fee represents a sum corresponding to a percentage of the annual listing fee that each company pays to Nasdaq Stockholm. The percentage shall reflect the cost of sustainable, high-quality self-regulation in the stock market area. The Association's board decides, after consultation with the Confederation of Swedish Enterprise, on the size of the percentage.

Fees paid by the Association's principals/members account for a small part, as do payments for services and rulings delivered for by the Swedish Securities Council. Companies listed on the Nordic Growth Market NGM (Main Regulated Equity) pay a fee for accounting supervision conducted by the Council for Swedish Financial Reporting Supervision.

You can read more about the fees here (in Swedish)