Föreningen för god sed på värdepappersmarknaden

What Föreningen för god sed på värdepappersmarknaden does

Föreningen för god sed på värdepappersmarknaden is a Swedish non-profit association (ideell förening, org. nr. 802473-2664) founded in November 2005 to consolidate and finance self-regulation in the Swedish securities market. It coordinates five executive bodies (sakorgan): Aktiemarknadsnämnden (rulings on good market practice, with delegated authority from Finansinspektionen on public takeover bids), Aktiemarknadens självregleringskommitté (rules on takeovers, executive remuneration, incentive programmes, and private placements), Kollegiet för svensk bolagsstyrning (the Swedish Corporate Governance Code), Nämnden för svensk redovisningstillsyn (supervision of listed companies' financial reporting, delegated by Finansinspektionen since January 2019), and Rådet för hållbarhets- och finansiell rapportering (financial and sustainability reporting standards, including RFR recommendations). The Association is governed by a board appointed by its principals — Nasdaq Stockholm, FAR, Fondbolagens Förening, the Institutional Owners Association, Finance Sweden, Svensk Försäkring, the Swedish Securities Markets Association, and Svenskt Näringsliv — and operates a small Stockholm-based secretariat of roughly 5-10 staff.

The organization is not a technology company and does not sell software products. Its product surface consists of standards (Corporate Governance Code, Takeover Rules, RFR 1 and RFR 2), case-based rulings (over 1,300 statements from Aktiemarknadsnämnden since 1986, at roughly 60 per year), supervisory decisions (56-64 cases annually by Nämnden för svensk redovisningstillsyn across a population of ~410-420 listed companies), and consultation services. It distributes these through its website (godsed.se), LinkedIn, email newsletters, and press releases, and is represented in EFRAG, IASB, ESMA, IFASS, the Six Chairs Group, and Nordic and British peer bodies.

The revenue model is fee-based and non-commercial. Since January 2024, listed companies on Nasdaq Stockholm's main market pay a self-regulation fee of 5.5% of their annual listing fee; a separate reporting supervision fee is levied under Chapter 23 of the Securities Market Act; principals pay membership fees; and Aktiemarknadsnämnden charges for rulings and consultations. The Association has no external investors, no parent company, and no venture or private-equity ownership. It is operationally stable and not a candidate for acquisition, IPO, or external investment.

Name

Föreningen för god sed på värdepappersmarknaden

Legal name

Föreningen för god sed på värdepappersmarknaden

Website

https://godsed.se

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Föreningen för god sed på värdepappersmarknaden is a Swedish non-profit self-regulatory association, founded 2005, that coordinates five executive bodies setting corporate governance, takeover, financial reporting, and sustainability standards for Swedish listed companies under delegated authority from Finansinspektionen, funded by listing-fee-linked and member fees.

Ownership category

akta.pro rank

Product category

Securities market self-regulation

NAICS

Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

akta.pro primary industry

ESG Reporting, Disclosure & Regulatory Compliance (SFDR, EU Taxonomy, TCFD/ISSB) (FSAAALAK)

Keywords

• Securities market self-regulation
• Corporate governance code
• Financial reporting supervision
• Takeover bid regulation
• Sustainability reporting standards

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Self-regulation fee (Självregleringsavgift): Companies listed on Nasdaq Stockholm's main market pay a self-regulation fee corresponding to 5.5% (since January 2024) of the annual listing fee paid to Nasdaq Stockholm.
2. Reporting supervision fee (Redovisningstillsynsavgift): Fees paid by issuers whose securities are admitted to trading on a regulated market, financing the Council for Swedish Financial Reporting Supervision (Nämnden för svensk redovisningstillsyn) activities.
3. Member/Principal fees: Small portion of revenue comes from fees paid by the Association's principals/members, including FAR, Fondbolagens Förening, Institutional Owners Association, Nasdaq Stockholm, Svensk Försäkring, Finance Sweden, Swedish Securities Markets Association, and Confederation of Swedish Enterprise.
4. Rulings and consultation fees: Fees for rulings and consultations delivered by the Swedish Securities Council (Aktiemarknadsnämnden).

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Föreningen för god sed på värdepappersmarknaden is a non-profit self-regulatory association that develops and enforces standards, codes, rulings and supervisory reviews for the Swedish securities market through five executive bodies. Its core deliverables include rulings on good market practice (Aktiemarknadsnämnden), rules for takeover bids and executive remuneration (ASK), the Swedish Corporate Governance Code (Kollegiet för svensk bolagsstyrning), financial reporting supervision delegated by Finansinspektionen (Nämnden för svensk redovisningstillsyn), and accounting and sustainability reporting recommendations (Rådet för hållbarhets- och finansiell rapportering).

Product overview

Föreningen för god sed på värdepappersmarknaden is a non-profit association operating through self-regulation in the Swedish securities market. The organization does not offer a unified software product; instead, it coordinates five executive bodies (sakorgan) that each focus on distinct regulatory and supervisory functions: Aktiemarknadsnämnden provides rulings on market practice; Aktiemarknadens självregleringskommitté develops takeover and remuneration rules; Kollegiet för svensk bolagsstyrning manages the Corporate Governance Code; Nämnden för svensk redovisningstillsyn supervises financial reporting; and Rådet för hållbarhets- och finansiell rapportering develops accounting and sustainability reporting standards. These bodies collectively work toward maintaining a well-functioning, sustainable, and trusted Swedish securities market.

Differentiator

Problem solved

Functional benefit

Products and services

• Aktiemarknadsnämnden (Swedish Securities Council) rulings and advice Issues rulings, advice and information on good practice in the Swedish stock market, with delegated authority from Finansinspektionen on matters related to public takeover bids. Serves listed companies, advisers and other market participants seeking interpretation of good market practice.
• Aktiemarknadens självregleringskommitté (ASK) rules and recommendations Produces and administers rules and recommendations for the stock market regarding public takeover bids, remuneration of senior executives, incentive programmes and private placements. Targets Swedish listed companies and advisers involved in M&A, executive pay and capital markets transactions.
• Swedish Corporate Governance Code (Koden för bolagsstyrning) The Swedish Corporate Governance Code, developed and managed by Kollegiet för svensk bolagsstyrning, sets principles for corporate governance in Swedish listed companies. Used by issuers, investors and advisers as the central benchmark for governance practice in Sweden.
• Nämnden för svensk redovisningstillsyn – Financial reporting supervision Scrutinizes the financial reporting of Swedish listed companies, a task delegated by Finansinspektionen to the Council since January 9, 2019. Approximately 410-420 companies are subject to review, with 63-64 reviews initiated annually. Used by Swedish listed issuers to demonstrate compliance with financial reporting standards.
• Rådet för hållbarhets- och finansiell rapportering – Accounting and sustainability reporting standards (RFR) Continuously adapts and develops high-quality accounting standards as well as sustainability and financial reporting requirements for Swedish companies listed on regulated markets within the EEA. Delivers RFR 1 and RFR 2 recommendations used by listed issuers and their auditors.

Quantifiable outcome

• Over 1,300 statements issued by Aktiemarknadsnämnden since 1986
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• EFRAG (European Financial Reporting Advisory Group)coreStrategic or Co-development Partner · 1 January 2001EFRAG was established in 2001 and works for general European interests with regard to standards for financial reporting. Since 2022, it also works with standards for non-financial/sustainability reporting. The Association and its executive bodies are represented in EFRAG's General Assembly, Administrative Board, Financial Reporting Board, and Sustainability Reporting Board. The Association is a member of EFRAG Financial Reporting Pillar and EFRAG Sustainability Reporting Pillar.
• IASB (International Accounting Standards Board)coreStrategic or Co-development PartnerThe Swedish Corporate Reporting Board promotes and represents Swedish interests in the development of international accounting standards by cooperating with IASB. The Board participates in IASB's meetings of national standard setters and in its advisory groups.
• ESMA (European Securities and Markets Authority)coreStrategic or Co-development PartnerThe Swedish Securities Council's secretariat participates in regular exchanges through the Takeover Bids Network (TBN) within ESMA. The Council for Swedish Financial Reporting Supervision actively participates in ESMA within the European Enforcers Coordination Sessions (EECS) and Sustainability Reporting Working Group (SRWG).
• IFASS (International Forum of Accounting Standard Setters)coreStrategic or Co-development PartnerThe Swedish Corporate Reporting Board collaborates with other European standards bodies in working groups within EFRAG, as well as with national standards issuers at regular global meetings through IFASS.
• British Takeover PanelminorStrategic or Co-development PartnerThe Swedish Securities Council's activities in public takeover bids are modelled to a large extent on the British Takeover Panel, with which the Council's secretariat is in regular contact.
• Six Chairs GroupminorStrategic or Co-development PartnerThe Swedish Corporate Governance Board is a member of the Six Chairs Group, which includes the chairs of Corporate Governance Boards from the UK, France, Germany, Italy, and the Netherlands.
• Nordic Corporate Governance Code IssuersminorStrategic or Co-development PartnerThe Swedish Corporate Governance Board collaborates closely with corporate governance code issuers from other Nordic countries, and the Nordic code issuers are in regular contact with each other.

Scale indicators5 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• SIX Exchange Regulation (Switzerland): The regulatory arm of SIX Swiss Exchange, performing enforcement and listing-rules supervision for Swiss-listed companies. A comparable self-regulatory exchange structure serving a national capital market.
• EFRAG (European Financial Reporting Advisory Group): Provides technical advice to the EU on financial and sustainability reporting standards. The Association holds seats across EFRAG's boards and pillars, making it a direct collaborator and comparable European-level peer in standards development.
• Financial Reporting Council (UK): The UK's equivalent body, which issues the UK Corporate Governance Code, oversees financial reporting supervision of UK-listed issuers, and operates as an independent regulator. Highly comparable across governance, financial reporting, and standards-development functions.
• UK Takeover Panel: Issues rulings and administers the UK Takeover Code, serving as the direct international model for Aktiemarknadsnämnden's takeover-bids work. The source data explicitly references regular contact between the two secretariats.

Broad incumbents

• European Securities and Markets Authority (ESMA): The EU's pan-European securities regulator. The Association's executive bodies (Aktiemarknadsnämnden, Nämnden för svensk redovisningstillsyn) participate in ESMA's Takeover Bids Network, EECS, and Sustainability Reporting Working Group.
• Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin, Germany): Germany's integrated financial regulator overseeing banking, securities, and insurance markets. Comparable as a national-level regulator supervising corporate governance and financial reporting.
• Autorité des marchés financiers (AMF, France): France's national securities and markets regulator. Comparable as a national-level authority supervising market conduct, corporate governance, and financial reporting for French listed issuers.
• U.S. Securities and Exchange Commission (SEC): The US federal securities regulator with broad authority over corporate disclosure, governance, and capital markets. A broader-incumbent analog as a national authority in securities-market oversight.
• FINRA (Financial Industry Regulatory Authority, US): A US self-regulatory organization for broker-dealers, with rule-making, examination, and enforcement functions for the securities industry. Broadly comparable as a national SRO model for capital-market conduct oversight.

Others

• International Corporate Governance Network (ICGN): An international membership organization for corporate governance professionals and institutions. Comparable as a peer-level governance network that convenes issuers, investors, and regulators on governance standards.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/f%C3%B6reningen-f%C3%B6r-god-sed-p%C3%A5-v%C3%A4rdepappersmarknaden

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Föreningen för god sed på värdepappersmarknaden