Freedom Finance Kreditservice AB approved as consumer credit intermediary by the SFSA

The loan broker Freedom Finance Kreditservice AB, a subsidiary of Ceratiidae II
AB (publ.) and part of the Freedom Finance Group, has received its permit for
consumer credit intermediation from the Swedish Financial Supervisory Authority
(‘SFSA’). The permit means that the company can continue to grow and help
consumers choose the right loans.
The background to the permit is a government proposition with the aim to improve
consumer protection in the credit process to minimise the risk for exaggerated
indebtedness. For example, the business must be operated in a sound manner, both
with regards to management and owners. With the market now regulated and under
the SFSA’s oversight, the inspection can control and interfere if participants
do not follow the rules.

”This type of regulations are very helpful for our customers, and for the
industry as a whole. We remain highly positive to a more regulated market that
can help the industry keep high quality among all participants” says Björn
Lander, CEO of the Freedom Finance Group.

The regulations mean, for example, that all consumer credit intermediaries must
deliver quarterly reporting to SFSA, and new individuals in management or large
ownership changes must be approved. Loan brokers that have received the permit
has had their internal processes and systems assessed and approved according the
regulations. If a loan broker violates the rules, the SFSA can withdraw the
permit and the company would have to cease with their operations immediately.

”With 15 years of experience, most in the industry, we have managed to build a
broad organisation with broad knowledge, sophisticated systems and well
-functioning processes. We put significant efforts on education and
certification of staff, and have both a Compliance Officer and a Legal Counsel
that ensures our further adherence to laws and regulations” says Björn Lander.

Read more about the permit
here (http://www.fi.se/Register/Foretagsregistret/Foretagsregistret-Detaljerad
-information/?idx=052504) (in Swedish).
For further information, please contact:

Björn Lander, CEO, Freedom Finance Group
+46 431 47 47 00, bjorn.lander@freedomfinancenordic.com
About the Freedom Finance Group

The Freedom Finance Group is a leading North European loan broker that
facilitated more than 5bn SEK of loans in 2014. It is headquartered in
Ängelholm, Sweden, and is operating on the Swedish, Finnish, Norwegian and
German markets. It is owned by the private equity fund H.I.G. Europe Capital
Partners L.P., and Management.