The Financial Supervisory Authority publishes a supervisory report regarding financial advisors' consideration of consumers' preferences for sustainable saving
The Financial Supervisory Authority has conducted an in-depth analysis (in Swedish) of how banks, securities firms, and insurance intermediaries address customers' sustainability preferences in financial advice. In the report presented by the Financial Supervisory Authority based on this analysis, they highlight that companies need to improve both the provision of more concise and comprehensible information on sustainability aspects to their customers and, in some cases, entirely lack or have insufficient processes to match customers' sustainability preferences with suitable savings products. Additionally, the Financial Supervisory Authority notes that questions regarding sustainability preferences based on EU definitions are often absent in companies' advisory templates. According to the report, many consumers' investments thus risk not meeting their expectations regarding sustainability. The Financial Supervisory Authority now urges banks, securities firms, and insurance intermediaries to continue working towards fulfilling the requirements of the sustainability regulations.
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