Proficiency requirements provide an overview of what license holders with different positions are expected to know. Annual knowledge update (ÅKU) must be done as electronic training with a final test.
When the license holders of affiliated companies have completed ÅKU, the companies are obliged to report this in Swedsec’s online service by 30 November at the latest. If a person with an active license does not carry out their ÅKU by November 30 at the latest, the company must put the license on hold and the person may not continue to work with licensed activities until the ÅKU has been completed and reported in the online service and the license has been activated again via the license application.
If you have a dormant license and have not completed the previous year’s ÅKU, you must first complete it. The company must report to Swedsec’s online service that it has been done before the application for an active license can be made. If a dormant license is to be activated in December and either this year’s or the previous year’s ÅKU has been completed/reported, these two must be done before the company can apply for an active license again.
If you have a suspended license or no license at all (ie have only written and received passing results on a licensing test) and are not employed or have an assignment with a Swedsec-affiliated company, you should not take this year’s ÅKU. This is only done when you get a new job or a new assignment.
If the previous employer has not reported completed ÅKU, you must contact them to get a certificate that ÅKU has been completed, so that the new employer can report the ÅKU to Swedsec.
If you take a licensing test for the first time and do not have a license before, you do not need to take the ÅKU in the year the test was taken. If you already have an active license and take a new licensing test, you must take the ÅKU test that year.
The proficiency requirements for ÅKU contain both new phenomena or rules and repetition of topics from the various licensing tests. It is the task of each training provider to interpret the proficiency requirements and create relevant and educational training that includes control of the license holder’s knowledge. ÅKU is, in the same way as the licensing tests, adapted to the professional role.
Here you can download the current and previous versions of the proficiency requirements as a PDF (in Swedish)
The examination board is appointed by Swedsec’s board. The members have a comprehensive and deep knowledge of the financial market and the task is to determine each year which proficiency requirements must apply to obtain a license. The examination board is also responsible for ensuring that the content of the licensing tests is in line with the established proficiency requirements. In addition, the examination board prepares the proficiency requirements for the annual proficiency update (ÅKU).
The members of the examination board are responsible for constructing questions for the tests and that the content of the questions is correct. Before a question is ready to be lifted into a regular test, the question is reviewed for substance, language and construction, and tested by at least 100 test takers. Educators and test scientists ensure that the questions and the different test versions are correct based on a pedagogical scientific perspective.
Inger Nordmark, President, Swedsec
Teresa Isele, CEO, Swedsec
Lennart Bandh, Banking lawyer, Legal Department, Swedbank
Linda Conradsson, Manager, Private Banking legal (Sverige), Svenska Handelsbanken
Johan Hagbarth, Investment strategist and macro analyst, SEB
Isabella Hugosson, Lawyer, Advokatfirma Dahlgren & Partners
Madeleine Jevås, Product Manager Mortgages, SEB
Jonas Myrdal, Chamber prosecutor, EBM
Torbjörn Sällström, Program Director, SSE IFL Executive Education
Isak Wirén, Senior Legal Counsel, Nordea