The agency falls under the Swedish Ministry of Finance and regulates all organisations that provide financial services in Sweden.

[2] FI was formed 1991 to create a single integrated regulator covering banking, securities, and insurance in Sweden.

One of its tasks is monitoring for instability that will negatively affect the Swedish financial system.

If it believes that this is the case it has a duty to report that to the Swedish government who are responsible for taking any action.

The authority has three main activities: In June 2020, FI fined SEB 1 billion crowns ($107.11 million) for failures in compliance and governance in relation to anti-money laundering regulations in the Baltics.