It is an unusual situation, where Daniel Barr and I together have made the assessment that the best for the Financial Supervisory Authority is that he over time gets other tasks, says Minister for Financial Markets Niklas Wykman to TT.
The unusual situation is about the fact that the FI has handled a sanctions case against the Pensions Agency where Barr previously was the director-general. According to Wykman, it is important that the FI can focus on its mission and maintain a fundamental trust.
How would it damage the trust for the FI if Daniel Barr were to remain?
The Financial Supervisory Authority is an authority that is a judge on the financial market. And it is clear that in the unusual situation where he has been the director-general of an authority that has received criticism from the FI, it can lead to a questioning of the authority, says Wykman.
To the Elephant Graveyard
The agreement means that Daniel Barr will leave his current assignment in the summer to instead investigate how to strengthen the Swedish bond market's functionality.
His appointment expires in March 2029 and until then, he can continue to work as director-general in the Government Offices, at the so-called Elephant Graveyard.
Daniel Barr was previously the head of the Pensions Agency. A month ago, the agency received a remark for inadequate risk control in connection with the noted investments in the real estate company Heimstaden Bostad, which were made when Barr was still the head of the Pensions Agency.
The Pensions Agency did not live up to the legal requirements for risk control, according to a decision from the FI.
The Pensions Agency invested approximately 2.5 billion kronor in the real estate company, the investment has received significant attention.
Special Shareholders' Agreement
Specifically for the investment, it was the special shareholders' agreement in the unlisted Heimstaden Bostad, which "gives rise to an increased risk that the funds that the Pensions Agency has invested in Heimstaden Bostad AB will be entirely or partially lost", wrote the FI in the report.
"To safeguard the authority's trust, I have, in agreement with the department, decided to prematurely leave my position as director-general", says Daniel Barr in a press release.
The Government has appointed Malin Alpen as acting director-general from June 19.
