On Jun. 14, SWE MoJ proposed measures to tackle rogue companies.
SWE MoJ proposed measures aimed at preventing and combating crimes committed in and through companies, following work commissioned from a special investigator.
Minister of Justice said SWE GVT determined to strangle the criminal economy, make it more difficult for criminals to use companies to commit crimes, protect competition.
SWE CRO to get better tools to carry out checks and delete incorrect information from its registers, must be able to demand that person who reports a representative or person who has been reported appear in person for identity checks to be carried out.
Must also be the case when checking suspected incorrect information in the registers.
Business creation should be criminalized, anyone who unlawfully uses the identity information of legal person for purpose of achieving financial gain must be sentenced.
Proposed penalty shall be a fine or imprisonment for a maximum of two years.
Maximum penalty for breach of the figurehead ban to rise from 1 to 2 years in prison.
Late fees for late submission of annual reports must be increased, and condominium associations/other financial associations to submit their annual reports to SWE CRO.
Some new rules on foundations are to be introduced for crime prevention purposes.
These apply to areas including the ban on appointment of figureheads, i.e. persons in nominal possession of the company in order to facilitate criminal activities.
And reporting obligations for auditors in the event of suspicion of financial crime.
Effectiveness
The proposed changes to the law are proposed to enter into force on Jan. 1, 2025.
Sep. 2024 Bill to Parliament
On Sep. 19, 2024, SWE MoJ said GVT submitted the Corporations, Crime bill to PRL.
It has measures aimed at preventing, combating crimes committed in, via companies.
Proposals include that business creation must be criminalized, maximum penalty for breaching goalkeeper ban shall be increased from 1 to 2 years in prison.
SWE CRO must get better tools to carry out checks, delete incorrect data in registers.
As for late fees, for late submission of annual reports the fees must be increased.
Housing associations, other financial ones must submit annual reports to SWE CRO.
Also proposed that certain rules on foundations should be adapted to other association legislation for crime prevention purposes and apply, to ban for deputies, ban on goalkeepers and reporting obligation for auditors in case of suspicion of financial crime.
The changes to the law are proposed to enter into force on Jan. 1, 2025.
Nov. 15, 2024 Committee on Civil Affairs Approval
On Nov. 15, 2024, SWE PRL Committee on Civil Affairs proposes that SWE PRL approve the bill aimed at preventing/combating crimes committed in and through companies.
Issued a report of Committee on Civil Affairs 2024/25:CU3 on how SWE PRL should decide on various matters; committee believe the motions should be rejected.
The bills entail that the Swedish Companies Registration Office will have the opportunity to demand personal appearance, company hijacking will be criminalized, late fees will be increased and rules will be adapted for crime prevention purposes.
The Committee on Civil Affairs also proposes that the SWE PRL says no to proposals in motions, four of which are from the general motion period in 2024.
Nov. 20, 2024 Final Adoption
On Nov. 20, 2024, SWE PRL adopted bill CU3 so changes effective on Jan. 1, 2025.
PLR said yes to bill which aims to prevent, fight crimes committed in, via companies.
SWE CRO will be able to demand personal notification, company creation will be criminalized, late fees will be raised and certain rules for foundations will be adapted for purpose of crime prevention but said no to proposals in motions.
Nov. 22, 2024 Changes Due to Legislation
On Nov. 22, 2024, SWE CRO reported on changes due to adoption of new bill.
These legislative changes mean that SWE CRO will have better conditions to delete incorrect information from the registers, and company hijacking will be criminalized.
Also, changes mean late fees for late submission of annual reports will be increased.
SWE CRO will also have the option to demand personal appearance, which will assist SWE CRO's new crime prevention department that will focus on economic crime.
As stated by Therese Frennberg, future head of SWE CRO's new crime department.
