1. Introduction and Jurisdiction
All over the world governments are struggling to regulate financial services on the Internet. Almost every day there is news on how a government is about to structure Internet regulation. Everyone is aware that it is crucial to get the regulations right. Otherwise, investors may boycott the country and the development of the Internet as a new, important means of communication is jeopardized. Many different – national and international – interests have to be taken into consideration. Regulations cannot be technology-specific. This is a true challenge for all legislators.
(1.1) The general view in Sweden is that the Internet is just another means of communication. Accordingly, activities on the Internet are normally subject to legislation of general application. This also applies to the securities market. Thus, there are no specific Acts or regulations issued by the Swedish Financial Supervisory Authority (SFSA), regulating securities and the Internet.
