All you can be sure of is that everything is changeable

10 days ago it became impossible to acquire the majority of American BDCs in Sweden. It's no problem if I want to sell them. Avanza and Nordnet stated that the reason for this "new normal" was a change in the reference data they receive for this type of securities. Both online banks load reference data from a subcontractor and it is precisely this data that they base their platform on, more precisely the MiFID II and PRIIP regulations. The process is more or less automatic.

The change meant that the securities received a different CFI code, where the shares are now classified as closed-end funds. It differs in regulatory requirements and documentation standards between the US and the EU. Since the Swedish online banks cannot provide a fact sheet according to the regulations, this means that the banks are not allowed to distribute these investment products. The result is that Swedes are no longer allowed to buy these securities.

Since before, Swedes are completely restricted from acquiring ETFs based in America due to the same reason. If this continues, there will soon be no American securities left for us Swedes to buy. It was in the nick of time that we became qualified as a professional investor with one of our banks and and can at least continue our acquisitions with them. But I feel for anyone who can't.

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