Members of the Council are appointed pursuant to the following process:
• The Association for Generally Accepted Practice in the Securities Market (the “Association”) appoints a nomination committee.
• The nomination committee is responsible for nominating the Council’s chair and deputy chair.
• The Association’s board of directors appoints the Council’s chair and deputy chair.
• The Council’s chair appoints members of the Council.
Appointment of Council’s chair and deputy chair is contingent on notification to the Swedish Financial Supervisory Authority by the Association’s chair.
Appointment of Council members is contingent on notification by the Council’s chair to the Swedish Financial Supervisory Authority and approval by the chair of the nomination committee.
Conflict of interest
Conflict of interest constitutes a restriction for a member to participate in the review of a case.
When testing members for conflicts of interest in specific review cases, it is primarily the concerned member who assesses whether he or she is disqualified. Council members shall comply with the provisions of §§ 16–18 of the Administrative Procedure Act (2017:900) regarding conflict of interest. Conflicts of interest are reported to the Council’s chair.
In conjunction with the conflict of interest test for specific review cases, the Council’s chair conducts an additional conflict of interest test of the members. The test of the deputy chair is conducted by the Council’s chair. The test of the Council’s chair is conducted by the deputy chair. Conflict of interest tests shall be documented.