Corporate Governance Stockholm

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Code for Corporate Governance

The Swedish Code of Corporate Governance (the Code) has during the spring 2008 been subject to a thorough review. As from 1 July 2008 the Code is applicable for all companies whose shares are traded at the NASDAQ OMX Stockholm. This is a considerable extension of the application of the Code compared to the previous situation. The Code has been simplified and shortened without this having affected the demand in the Code for good corporate governance. The Code is still based on the principle “comply or explain”, which means that a company has the opportunity to deviate from a certain rule in the Code, if this deviation in the specific case leads to a better corporate governance. A company that has made a deviation from the Code shall in the corporate governance report describe the deviation, what kind of other solution that the company has chosen and the reason for this action.

Companies that before 1 July 2008 have applied the previous version of the Code are to apply the revised Code from that date. Companies that did not apply the previous version of the Code before 1 July 2008 are to apply the revised Code as soon as possible from that date and no later than the date of the first annual general meeting held after 1 January 2009. A corporate governance report is therefore to be included in or attached to the annual accounts for 2008. Companies whose shares are admitted to trading on the main market of the Exchange after 1 July 2008 are to apply the Code in the same way as those companies who had not applied the Code earlier. The Code is thus to be applied fully from the date of the first annual general meeting held the year after the admittance to trading at the Exchange.

The Code is not formally a part of the Exchange ´s rules. But the Code is indirectly a part of the rules since the Code is to be seen as an expression of good stock market practice regarding corporate governance, and the Exchange ´s rules state that a listed company shall conduct its business in line with common accepted market practice.

Swedish Corporate Governance Code

Useful Links

External Links Stockholm

Swedish FSA (Finansinspektionen)

Aktiemarknadsnämnden

Näringslivets Börskommitte

Board of Corporate Governance

Euroclear Sweden AB

Information from the exchange

Rule Changes Stockholm

Effective 1 July 2010

Changes to the Rule book for Issuers enters into force. For more details on the changes please see Regulatory Notice and mark-up version of the Rule book.

1 May 2010
The section for Exchange Traded Funds in the Rule book for Issuers has been changed. The changes enters into force as of 1 May 2010. For more details please see Regulatory Notice and mark-up version.

8 February 2010

New trading rulebook “NASDAQ OMX Nordic Member Rules” (NMR 1.0) enters into force on February 8th 2010 as the trading on then the equities market and some parts of the fixed-income market is removed to the new trading platform INET Nordic. In connection of the introduction of the new trading platform the Reporting Guideline and the Buy-in rules are also updated.

10 December 2009

The Rule Book for Issuers has been amended with a new section 2.10. The new version of the Rule Book enters into force on 11 January 2010. Please also see under FAQ.

2 December 2009

The First North Rulebook has been amended. The new version of the Rulebook enter into force on 4 January 2010. For information on the new NBK rules on take over bids see FAQ.

Effective 9th of October, 2009

New trading rulebook version (NMR 2.3) enters into force on October 9th 2009 due to launch of the Central Counterparty (CCP) on the equities market. Launch of CCP causes also changes to the Reporting Guideline. In the same connection Buy-in rules are extended to also cover NASDAQ OMX Helsinki.

1 October 2009

New versions of the Rule Book for Issuers respectively Take Over Rules enter into force. A new version of Frequently Asked Questions (FAQ) has been published. Please note that the Take Over Rules and FAQ are currently only available in Swedish.

28 August 2009

New versions of the Rule Book for Issuers respectively Take Over Rules have been published. The new versions of the rules will enter into force on 1 October 2009. Please note that the Take Over Rules are currently only available in Swedish.

Effective 15 June 2009

The Rules and Regulations of NASDAQ OMX Derivatives Markets have been amended.

Effective 30 March 2009

New version of Norex Member Rules (version 2.2) is introduced.

Effective 1 January 2009

New version of Rulebook for Issuers and Shares. English version of chapters Rules for Interest-Bearing Fixed Income Instruments and Exchange Traded Funds will soon be published.

Effective 15 December 2008

Rules & Regulations of OMX Derivatives Markets have been amended.

Effective 2 June 2008