CERINTE LEGISLATIVE SPECIFICE

PIETEI DE CAPITAL DIN

SUEDIA

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DISCLAIMER

Toate datele si informatiile continute in acest document sunt obtinute din surse externe, disponibile la momentul publicarii lui, iar Depozitarul Central nu-si asuma raspunderea pentru acuratetea, actualitatea, completitudinea sau adecvarea oricaror informatii continute si la respectarea legilor aplicabile. Acest document trebuie inteles ca un ajutor si nu creaza Depozitarului Central obligatii legale, contractuale sau de orice natura fata de partea care utilizeaza informatiile cuprinse in acest document. Continutul acestui document este doar in scop informativ si nu trebuie considerat a fi o recomandare de investitie sau o consiliere juridica, fiscala sau de orice alta natura. Utilizarea informatiilor continute in acest document se face pe riscul partii care il utilizeaza fara sa angajeze vreo responsabilitate sau garantie a Depozitarului Central sau personalului acestuia. Acest document si continutul acestuia nu pot fi copiate, reproduse, publicate, transmise, transferate sau distribuite si comercializate in orice mod. Termenii si descrierile din prezentul document pot fi subiect al modificarilor ulterioare conform schimbarilor intervenite sau aparitiei unor noi reglementari, iar Depozitarul Central nu-si asuma nicio raspundere pentru actualizarea informatiilor cuprinse in prezentul document.

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Cerinte legislative specifice pietei de capital din Suedia

1. Legislatie primara a pietei de capital Financial Instruments Trading Act http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Lag-1991980-om-handel-med-f_sfs-1991-980/ Swedish Companies Act (Aktiebolagslag 2005:551) http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/ Securities Market Act (2007:528) http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdf Stock Market (Takeover Bids) Act (2006:451) http://www.fi.se/Folder-EN/Startpage/Regulations/Market-information/Takeover-bids/ FFFS 2002:11 Regulations concerning the obligation to submit information on trading in certain financial instruments by electronic means http://www.fi.se/Folder-EN/Startpage/Regulations/Regulatory-Code/FFFS-200211/ FFFS 2005:9 Finansinspektionen's regulations and general guidelines regarding investment recommendations directed to the general public and the management of conflicts of interest http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2005/fs0509eng.pdf FFFS 2007:16 Regulations governing investment services and activities http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdf FFFS 2007:17 Regulations governing operations on trading venues http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdf FFFS 2013:1 Finansinspektionens regulations and general guidelines regarding covered bonds http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdf FFFS 2013:15 Regulations amending Finansinspektionens regulations (FFFS 2007:16) governing investment services and activities http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1315_eng.pdf

http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Lag-1991980-om-handel-med-f_sfs-1991-980/http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Lag-1991980-om-handel-med-f_sfs-1991-980/http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/Folder-EN/Startpage/Regulations/Market-information/Takeover-bids/http://www.fi.se/Folder-EN/Startpage/Regulations/Regulatory-Code/FFFS-200211/http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1315_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1315_eng.pdf

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Regulile si regulamentele pietei de capital din Suedia sunt conforme cu cerintele Directivelor Europene: Directive 2013/36/EU of 26 June 2013 of the European Parliament and of the Council on the access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (Directive 2013/36/EU), article 143(1), requires supervisors to make disclosures that allow meaningful comparisons of supervisory rules and practices across Europe.

Finality Directive 98/26/EC Transparency Directive (2004/109/EC)

2. REGULI SI REGULAMENTE ALE ORGANISMELOR DE REGLEMENTARE SI ALE OPERATORILOR DE SISTEM

Euroclear Sweden Rules EuroCCP Rules NASDAQ OMX Stockholm Rules

1. Legile pietei de capital Financial Instruments Trading Act http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Lag-1991980-om-handel-med-f_sfs-1991-980/ Conform Capitolului IV din Financial Instruments Trading Act, investitorii au obligatia de a raporta la Finansinspektionen si la compania emitent achizitiile si transferurile de actiuni care depasesc sau scad sub urmatoarele procente din drepturile de vot ale companiei: 5%, 10%, 15%,20%,25%,30%,50%,66,6% si 90%. Raportarile cuprind pe langa actiuni si alte tipuri de instrumente financiare care garanteaza dreptul de a achizitiona actiuni (ex. GDR). Raportarea se face la data tranzactiei sau in ziua urmatoare datei tranzactiei. De asemenea, scopul regulamentului este de a asigura protectia investitorilor si de a creste competitia in pietele de capital. Regulamentul permite short-selling-ul, dar instrumentele financiare trebuie livrate la data de decontare, altfel se aplica penalitati.

Swedish Companies Act (Aktiebolagslag 2005:551) http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/ Printre altele, legea stabileste cadrul de reglementare a guvernantei corporative pentru companiile listate.

http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/http://www.riksdagen.se/sv/Dokument-Lagar/Lagar/Svenskforfattningssamling/Aktiebolagslag-2005551_sfs-2005-551/

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Votul este permis fie prin participare, fie prin reprezentare pe baza unei imputerniciri (power of Attorney). Un actionar care detine actiuni la data de inregistrare intr-o companie listata are dreptul de a participa si vota. Actionarii ale caror actiuni sunt inregistrate intr-un cont nominee trebuie sa aiba aceste detineri inregistrate temporar in numele lor in evidentele Euroclear Sweden pentru a participa la adunarile generale si pentru a-si exprima dreptul de vot. Inregistrarea actiunilor pentru exercitarea dreptului de vot trebuie facuta cu cel putin 20 zile calendaristice anterior datei de inregistrare. Actionarii pot solicita adaugarea de noi articole pe ordinea de zi a unei Adunari Generale daca detin cel putin 10% din drepturile de vot din cadrul companiei respective.

Securities Market Act (2007:528) http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdf Prevederile prezentului regulament se aplica firmelor de investitii, institutiilor de credit inregistrate in Suedia si firmelor de investitii straine autorizate sa desfasoare operatiuni de intermediere pe piata de capital. Regulamentul cuprinde cerintele pe care trebuie sa le indeplineasca companiile mai sus mentionate in vederea autorizarii, dar si modul de evaluare si impartire pe categorii a clientilor pentru incheierea contractelor de intermediere si modul de transmitere a informatiilor si a rapoartelor catre clienti. De asemenea, cea mai buna executie a ordinelor clientilor si cea mai buna executie a ordinelor pentru conturile discretionare sunt reglementate in prezentul act.

Stock Market (Takeover Bids) Act (2006:451) http://www.fi.se/Folder-EN/Startpage/Regulations/Market-information/Takeover-bids/ Conform legii, obligatia de a lansa o oferta publica obligatorie revine oricarui actionar care detine minim 30% din drepturile de vot ale unei companii listate. Oferta trebuie facuta in termen

de 4 saptamani de la raportarea procentului de detinere si trimisa catre Finansinspektionen pentru aprobare. Conform prevederilor legii, ceilalti actionari au posibilitatea de a-si instraina detinerile in compania respectiva cu conditia ca toti actionarii sa primeasca aceleasi beneficii. Perioada totala a ofertei trebuie sa fie 3 luni, dar in cazul in care oferta este conditionata de anumite aprobari se poate prelungi pana la 9 luni.

FFFS 2002:11 Regulations concerning the obligation to submit information on trading in certain financial instruments by electronic means http://www.fi.se/Folder-EN/Startpage/Regulations/Regulatory-Code/FFFS-200211/ Regulamentul stabileste ca anumite companii pot transmite pe cale elctronica catre Finansinspektionen informatiile cu privire la tranzactiile cu instrumente financiare

http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/Folder-EN/Startpage/Regulations/Market-information/Takeover-bids/http://www.fi.se/Folder-EN/Startpage/Regulations/Regulatory-Code/FFFS-200211/

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FFFS 2005:9 Finansinspektionen's regulations and general guidelines regarding investment recommendations directed to the general public and the management of conflicts of interest http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2005/fs0509eng.pdf Regulamanetul reglementeaza modul de diseminare a informatiilor in cadrul recomandarilor investitionale cu scopul de a preveni manipularea pietei de capital si conflictele de interese.

FFFS 2007:16 Regulations governing investment services and activities http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdf Regulamentul cuprinde cerinte pentru infiintarea firmelor de investitii si reglementeaza si supravegheaza activitatea acestora. Prevederile cuprinse in Securities Market Act sunt detaliate in prezentul regulament, acesta fiind rezultatul implementarii Directivei Europene 2004/39/EC on Markets in Financial Instruments (MiFID).

Conform Directivei, regulamentul defineste cea mai buna executie, conflictul de interse si imparte clientii firmelor de investitii in client de retail si client profesionali, respectiv contaparti eligibile.

FFFS 2007:17 Regulations governing operations on trading venues http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdf Regulamentul se aplica burselor de valori, caselor de compensare, firmelor de investitii si firmelor ale caror actiuni sunt admise la tranzactionare pe o piata reglementata sau MTF si contine prevederi cu privire la:

- Evaluarea actionarilor si a managementului - Listarea oficiala - Supravegherea pietei - Informatii post-tranzactionare - Exceptii de la obligatiile de publicare a informatiilor post-tranzactionare - Cerinte de raportare pentru emitentii de instrumente financiare - Notificarea si publicarea informatiilor cu privire la actionarii unei companii listate - Achizitionarea si vanzarea propriilor actiuni de catre o companie - Decizii ale Swedish Securities Council cu privire la anumite emisiuni de instrumente

financiare in cadrul ofertelor publice de preluare.

FFFS 2013:1 Finansinspektionens regulations and general guidelines regarding covered bonds http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdf Scopul regulamentului este de a crea un cadru legal de reglementare care sa includa:

http://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS_0716_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/FFFS0717_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdfhttp://www.fi.se/upload/90_English/30_Regulations/1_Regulatory%20code/2013/fs1301_eng.pdf

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- Prevederi cu privire la evaluarea institutiilor care emit obligatiuni si evaluarea colateralului

- Analize referitoare la evaluarea colateralului in conditii de schimbare a pretului - Obligatii ale inspectorului independent.

2. REGULI SI REGULAMENTE ALE ORGANISMELOR DE REGLEMENTARE SI ALE OPERATORILOR DE SISTEM

Euroclear Sweden (ES) Rules

Principalele reglementari emise de Euroclear Sweden pentru participanti sunt cuprinse in documentul de mai jos care poate fi accesat pe pagina web:

https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Participation-in-Euroclear-Sweden.pdf Sistemul VPC operat de Euroclear Sweden permite decontarea instrumentelor financiare atat in SEK, cat si in EUR. Sistemul are 2 sectiuni: AM sub-market pentru decontarea instrumentelor financiare de capital: actiuni si alte instrumente financiare asimilate actiunilor; PM sub-market - pentru decontarea instrumentelor financiare de datorie: certificate de trezorerie, obligatiuni, certificate cu ipoteca. Conform regulilor ES, in sistemul VPC se pot deschide atat conturi owner-registered, cat si nominee. Instrumentele financiare decontate pe segmentul PM sub-market pot fi pastrate in oricare din tipurile de conturi de mai sus. In baza unui contract special incheiat intre ES si un account operator se poate deschide un service account, care din punct de vedere tehnic si legal poate fi doar cont owner-registered. Acest tip de cont ofera servicii suplimentare, printre care: gruparea clientilor de categorii, custodia si decontarea pentru instrumente financiare straine, evaluarea detinerilor. Pentru membrii compensatorii, ES deschide conturi de tip member account. Instructiunile de decontare ale unui membru compensator sunt inregistrate in acest cont, dar ulterior derularii procesului de decontare instrumentele financiare sunt transferate in conturi de tip owner-registered sau nominee. Informatiile cu privire la evenimentele corporative sunt transmise de catre ES printr-o interfata XML sau ISO. Evenimentele corporative obligatorii sunt procesate de ES. In schimb, evenimentele corporative voluntare sunt procesate, in conformitate cu regulile ES, de agentii emitentilor. Participantii inregistrati in Euroclear Sweden pot fi:

- Membrii compensatori - Operatori (account operator) - Agenti ai emitentilor (issuer agent) - Banci de decontare - Nominee

https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Participation-in-Euroclear-Sweden.pdfhttps://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Participation-in-Euroclear-Sweden.pdf

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Membrii compensatori sunt responsabile pentru decontarea instructionilor la data initiala a decontarii. In cazul in care membru compensator nu este banca de decontare, acesta trebuie sa numeasca o banca de decontare pentru efectuarea platilor rezultate din tranzactii. Un membru compensator care participa in decontarea efectuata pe sectiunile AM si PM trebuie sa utilizeze un account operatordaca el nu detine aceasta calitate. Participarea ca membru compensator in nume propriu poate fi acordata persoanelor juridice daca indeplinesc conditii de capital, sisteme tehnice si rutina in gestionarea riscurilor. Aditional, participarea poate fi acordata si pentru Central Bank of Sweden, respectiv Swedish National Debt Office. Participarea ca membru compensator in numele unei terte parti poate fi acordata caselor de compensare nationale si straine, depozitarilor, Bancii Centrale si altor institutii financiare care sunt autorizate de Finansinspektionen. Participarea ca si account operator in nume propriu poate fi acordata persoanelor juridice daca indeplinesc conditii de capital, sisteme tehnice si rutina in gestionarea riscurilor. Aditional, participarea poate fi acordata si pentru Central Bank of Sweden, respectiv Swedish National Debt Office.

Participarea ca si account operator in numele unei terte parti poate fi acordata caselor de compensare nationale si straine, depozitarilor, Bancii Centrale si altor institutii financiare care sunt autorizate de Finansinspektionen. Agentul emitentului (issuer agent) este un account operator cu autorizatie speciala pentru a desfasura operatii specifice emiterii de noi instrumente financiare si a procesa evenimente corporative conform regulilor ES. Participarea ca nominee poate fi acordata caselor de compensare nationale si straine, depozitarilor, Bancii Centrale a Suediei si altor banci centrale, instituiilor financiare care sunt autorizate de Finansinspektionen. Bancile de decontare actioneaza in numele membrilor compensatori pentru decontarea cash a tranzactiilor. Acestea nu au conexiune tehnica cu ES, prin urmare trebuie sa utilizeze serviciile unui account operator. Conditiile de admite pentru particpanti in sistemul ES sunt cuprinse in documentul Application instruction for participation in Euroclear Sweden: https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Euroclear-Sweden-Application-Instruction.pdf Cerintele minime de capital pentru admitere sunt:

Participant type ES

Clearing party / member

730,000 equity capital

Account operator 125,000 equity capital

Agent N.A.

https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Euroclear-Sweden-Application-Instruction.pdfhttps://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Euroclear-Sweden-Application-Instruction.pdf

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Nominee 125,000 equity capital

Issuer agent 125,000 equity capital

Settlement bank *

Cerintele tehnice pentru participantii ES sunt cuprinse in documentul Technical description Euroclear Sweden: https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Technical_description_Euroclear_Sweden.pdf

Euro CCP Rules

Regulile si procedurile EuroCCP stabilesc relatiile contractuale intre agentia de compensare a tranzactiilor si membrii compensatori, acoperind drepturile si obligatiile fiecarei parti. Acestea pot fi consultate pe pagina web: http://euroccp.com/download/regulations EuroCCP are 18 regulamente, cuprinse in 3 categorii:

1. contine aspecte in care CCP poate actiona unilateral. Urmatoarele regulamente fac parte din aceasta categorie:

Regulation Clearing Days cuprinde zilele de sarbatoare in care EuroCCP este inchis; http://euroccp.com/sites/default/files/euroccp_regulation_clearing_days_19122015.pdf

Regulation Dedicated Own EuroCCP Resources EuroCCP determina resursele proprii de capital care trebuie sa fie in conformitate cu standardele tehnice prevazute in Regulation EU 152/2013; http://euroccp.com/sites/default/files/euroccp_regulation_doer_12122014.pdf

Regulation Settlement contine instructiunile standard de decontare si ciclurile de decontare; http://euroccp.com/sites/default/files/euroccp_regulation_settlement_06222015.pdf

Regulation Corporate Actions contine informatii cu privire la evenimentele corporative, practicile de piata si regimul de impozitare; http://euroccp.com/sites/default/files/regulation_corporate_actions_12122014.pdf

Regulation Statement of Authority contine formularele utilizate pentru autorizarea tranzactiilor pe anumite platform/segmente de piata; http://euroccp.com/sites/default/files/euroccp_regulation_statement_of_authority_12122014.pdf

Regulation Securities contine gama de instrumente financiare eligibile pentru serviciile de compensare.

2. contine aspecte la managementul schimbarii. Urmatoarele regulamente fac parte din aceasta categorie:

Regulation Fees and Penalties contractual cu participantul compensator stipuleaza notificarea intr-o perioada de 30 zile in cazul unor schimbari in cadrul managementului; http://euroccp.com/sites/default/files/euroccp_regulation_fees_and_penalties_20150323.pdf

https://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Technical_description_Euroclear_Sweden.pdfhttps://www.euroclear.com/dam/ESw/Brochures/Documents_in_English/Technical_description_Euroclear_Sweden.pdfhttp://euroccp.com/download/regulationshttp://euroccp.com/sites/default/files/euroccp_regulation_clearing_days_19122015.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_settlement_06222015.pdfhttp://euroccp.com/sites/default/files/regulation_corporate_actions_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_statement_of_authority_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_statement_of_authority_12122014.pdf

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Regulation EuroCCP Investment Policy cuprinde norme referitoare la politica de investitii a EuroCCP in incheierea contractelor, inclusive investirea banilor si selectarea custozilor; http://euroccp.com/sites/default/files/euroccp_130325_regulation_investment_policy_2.0.2.pdf

Regulation Collateral contine prevederi cu privire la locatiile acceptate de CCP pentru colateral. http://euroccp.com/sites/default/files/euroccp_regulation_collateral_201501001.pdf

3. cuprinde care pot fi modificate partial sau in totalitate. Din aceasta categorie fac parte:

Regulation Clearing Hours determina ciclurile de compensare in timpul unei zile lucratoare, incluzand procesarea si raportarea; http://euroccp.com/sites/default/files/euroccp_regulation_clearing_hours_12122014.pdf

Regulation Segregation and Portability stabileste cerintele de plata a colateralului residual conform regulilor EMIR; http://euroccp.com/sites/default/files/euroccp_regulation_segregation_and_portability_12122014.pdf

Regulation Complaints determina modul in care sunt solutionate cererile participantilor; http://euroccp.com/sites/default/files/euroccp_regulation_complaints_12122014.pdf

Regulation Margin determina cum si cand EuroCCP stabileste cerintele de marja pentru care trebuie depus colateralul; http://euroccp.com/sites/default/files/euroccp_regulation_margin_12122014.pdf

Regulation Trade Refusal http://euroccp.com/sites/default/files/euroccp_regulation_trade_refusal_12122014.pdf

Regulation Buy-in Procedure stabileste fluxul operational pentru procedurile de buy-in si sell-out; http://euroccp.com/sites/default/files/regulation_buy-in_20150401_0.pdf

Regulation Cash Collateral Account contine termini si conditii pentru conturile de cash de collateral tinute in evidentele EuroCCP ; http://euroccp.com/sites/default/files/euroccp_regulation_cash_collateral_account_12122014_0.pdf

Regulation Clearing Fund stabileste contributiile, instrumentele eligibile si ratele de dobanda aplicabile; http://euroccp.com/sites/default/files/euroccp_regulation_clearing_fund_20150610.pdf

Regulation Interoperability Fund organizeaza alocarea colateralului. http://euroccp.com/sites/default/files/euroccp_regulation_interoperability_fund_12122014.pdf

NASDAQ OMX Stockholm Rules

Regulile de admitere a membrilor, tipurile de tranzactii ce pot fi efectuate de acestia, regulile de arbitraj, precum si operatiunile de listare si delistare a instrumentelor financiare pe piata bursiera din Stockholm pot fi accesate pe pagina web: http://www.nasdaqomx.com/listing/europe/rulesregulations Regulamentele NASDAQ OMX Stockholm cuprind: Reguli pentru emitenti: Rule book for Issuers

http://euroccp.com/sites/default/files/euroccp_regulation_collateral_201501001.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_clearing_hours_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_segregation_and_portability_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_segregation_and_portability_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_complaints_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_trade_refusal_12122014.pdfhttp://euroccp.com/sites/default/files/regulation_buy-in_20150401_0.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_interoperability_fund_12122014.pdfhttp://euroccp.com/sites/default/files/euroccp_regulation_interoperability_fund_12122014.pdfhttp://www.nasdaqomx.com/listing/europe/rulesregulations

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http://www.nasdaqomx.com/digitalAssets/73/73993_first_north_trading_list_rules_1_may_2011.pdf Rule book for Trading List http://www.nasdaqomx.com/digitalAssets/71/71707_090323_trading_list_rules_final.pdf Rule book for First Nordic Trading Rules http://www.nasdaqomx.com/digitalAssets/73/73993_first_north_trading_list_rules_1_may_2011.pdf Takeover Rules http://www.nasdaqomx.com/digitalAssets/96/96648_takeover-rules---1-february-2015.pdf Rules of NASDAQ OMX Stockholm for covered warrants and certificates http://www.nasdaqomx.com/digitalAssets/80/80377_warrant_rulebook_2012_07_01.pdf Reguli pentru membri Nasdaq Nordic Member Rules http://www.nasdaqomx.com/digitalAssets/98/98604_nasdaq-nordic-member-rules_version-2-7--effective-may-4--2015--final.pdf Market Model Nasdaq Nordic http://www.nasdaqomx.com/digitalAssets/98/98360_nasdaq-nordic-market-model-2015_04.pdf Buy-in Procedure and Guideline http://www.nasdaqomx.com/digitalAssets/98/98357_buy-in-procedure-and-guideline-1_6--may-4--2015.pdf Guidelines for cancelation of trades based on Nasdaq Nordic Member Rules http://www.nasdaqomx.com/digitalAssets/98/98358_cancellation-guideline-may-4--2015.pdf Reporting Guideline http://www.nasdaqomx.com/digitalAssets/98/98362_reporting-guidelines-version-1_8-may-4--2015.pdf Public Market Information http://www.nasdaqomx.com/digitalAssets/71/71443_public_market_information_update_june_2009.pdf Market Model Nasdaq Nordic, Nasdaq Baltic and First North Bond Markets http://www.nasdaqomx.com/digitalAssets/99/99272_nasdaq-nordic-market-model-3-5-genium-inet-fixed-income-8-june-2015_....pdf

http://www.nasdaqomx.com/digitalAssets/71/71707_090323_trading_list_rules_final.pdfhttp://www.nasdaqomx.com/digitalAssets/73/73993_first_north_trading_list_rules_1_may_2011.pdfhttp://www.nasdaqomx.com/digitalAssets/73/73993_first_north_trading_list_rules_1_may_2011.pdfhttp://www.nasdaqomx.com/digitalAssets/96/96648_takeover-rules---1-february-2015.pdfhttp://www.nasdaqomx.com/digitalAssets/80/80377_warrant_rulebook_2012_07_01.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98604_nasdaq-nordic-member-rules_version-2-7--effective-may-4--2015--final.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98604_nasdaq-nordic-member-rules_version-2-7--effective-may-4--2015--final.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98360_nasdaq-nordic-market-model-2015_04.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98357_buy-in-procedure-and-guideline-1_6--may-4--2015.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98357_buy-in-procedure-and-guideline-1_6--may-4--2015.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98358_cancellation-guideline-may-4--2015.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98362_reporting-guidelines-version-1_8-may-4--2015.pdfhttp://www.nasdaqomx.com/digitalAssets/98/98362_reporting-guidelines-version-1_8-may-4--2015.pdfhttp://www.nasdaqomx.com/digitalAssets/71/71443_public_market_information_update_june_2009.pdfhttp://www.nasdaqomx.com/digitalAssets/71/71443_public_market_information_update_june_2009.pdfhttp://www.nasdaqomx.com/digitalAssets/99/99272_nasdaq-nordic-market-model-3-5-genium-inet-fixed-income-8-june-2015_....pdfhttp://www.nasdaqomx.com/digitalAssets/99/99272_nasdaq-nordic-market-model-3-5-genium-inet-fixed-income-8-june-2015_....pdf

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