Sweden's competition authority – the Konkurrensverket (Swedish Competition Authority) – has significantly intensified its enforcement posture over the past year. Dawn raids, cartel investigations, and merger notification reviews are running at their highest frequency in over a decade. International companies operating in Sweden must now treat competition compliance as an active and ongoing priority, not a background concern.
Sweden's competition legislation empowers the Konkurrensverket to impose substantial financial penalties on companies that engage in anticompetitive conduct, including cartel arrangements and abuse of market dominance. The authority has also sharpened its merger notification review process, with stricter scrutiny of transactions that meet the relevant turnover thresholds. Companies with Swedish operations or significant Swedish revenues should assess their compliance position without delay.
This alert outlines what has changed, which businesses are affected, and the specific steps to take now.
What has changed: enforcement priorities and penalty exposure
The Konkurrensverket has announced a formal shift in enforcement priorities for 2025 and 2026. Three developments are particularly significant for international businesses.
First, the authority has expanded its focus on digital markets and platform-based competition. Businesses that operate online marketplaces, set algorithmic pricing, or hold strong positions in digital distribution channels face elevated scrutiny. The authority's position is that market dominance in digital settings can emerge quickly and is subject to the same prohibitions that apply in traditional industries.
Second, cartel enforcement has accelerated. The Konkurrensverket has used its powers under Swedish competition legislation to conduct unannounced inspections – commonly called dawn raids – across multiple sectors simultaneously. Companies in construction, transport, professional services, and retail have all received inspection visits. Cartel conduct, including price-fixing, market-sharing, and bid-rigging, carries penalties calculated as a percentage of annual turnover. These penalties can reach material sums even for mid-sized companies.
Third, the authority has tightened its review of the leniency programme. The eftergiftsprogrammet (leniency programme under Swedish competition law) allows companies that self-report cartel involvement to receive full or partial immunity from financial penalties. However, the authority has clarified that procedural cooperation must be genuine and complete. Partial disclosures no longer attract the same level of immunity they once did. Companies considering a leniency application must act before a competing participant files first – the first-in-door advantage remains decisive.
For merger notification, the authority has indicated it will apply a more detailed substantive review to transactions involving companies with strong positions in concentrated Swedish markets. The formal merger notification thresholds under Swedish competition legislation remain unchanged. However, the depth of review at Phase I has increased, and the risk of a Phase II investigation is meaningfully higher than in prior years.
To understand how these enforcement trends interact with corporate disputes in Sweden, including follow-on damages actions, companies should consider both dimensions together when assessing their legal exposure.
Who is affected: threshold criteria and business categories
The heightened enforcement environment affects a broad range of businesses. However, the risk is concentrated in identifiable categories.
Market dominance investigations apply to companies that hold a strong position in a defined Swedish market. Under Swedish competition legislation, dominance is assessed by reference to market share, barriers to entry, and the competitive structure of the relevant sector. A company does not need to hold an overwhelming share to attract scrutiny – a strong position combined with conduct that forecloses competitors is sufficient to trigger an investigation.
Cartel exposure is highest in sectors where competitors interact regularly – through trade associations, joint tenders, industry working groups, or shared distribution arrangements. Even indirect coordination of pricing or market allocation can constitute a cartel infringement under competition legislation. Employees who attend industry events or participate in trade body committees should receive specific training on the boundaries of permissible information exchange.
Merger notification obligations arise when a transaction meets the turnover thresholds set out in Swedish competition legislation. International companies completing cross-border acquisitions must verify whether Swedish revenues bring the deal within the notification regime. Failure to notify a qualifying transaction before completion is itself a separate infringement, subject to its own penalties.
Digital and technology businesses face a distinct risk profile. The authority has indicated it will scrutinise platform operators, app store gatekeepers, and data-driven service providers with particular care. This applies even where a company's formal market share appears modest – network effects and data accumulation can create dominance-like conditions that attract intervention.
To receive an expert assessment of your competition law exposure in Sweden, contact us at info@ferrazwhitmore.com.
What to do now: immediate actions for international companies
The following steps are recommended for any international company with Swedish operations or revenues. These actions address both the immediate enforcement risk and the longer-term compliance posture.
- Conduct an internal competition audit. Review existing commercial agreements, pricing practices, and information-sharing arrangements with competitors. Identify any conduct that could be characterised as coordination. This audit should cover both formal contracts and informal understandings reached through industry associations or bilateral contacts.
- Review merger notification obligations. If your company is planning or has recently completed an acquisition with a Swedish dimension, verify whether the transaction meets the notification thresholds under Swedish competition legislation. Failing to notify is a standalone violation. Act before completion if a qualifying transaction is in progress.
- Update dawn raid protocols. Every Swedish office should have a written procedure for responding to an unannounced inspection by the Konkurrensverket. Staff must know who to contact immediately, which documents are subject to legal privilege, and how to cooperate with inspectors without making voluntary disclosures that go beyond what is legally required.
- Assess leniency eligibility early. If an internal review reveals potential cartel conduct – past or present – evaluate whether a leniency application is appropriate. The first company to approach the Konkurrensverket receives the most favourable treatment. Delay significantly reduces the value of any leniency filing.
- Train commercial teams on competition risk. Sales, procurement, and marketing staff who interact with competitors or set pricing are the primary source of inadvertent competition infringements. Targeted training – updated to reflect the authority's current enforcement priorities – is one of the most cost-effective risk-reduction measures available.
Companies that rely on specialist competition law advice in Sweden are better placed to identify exposure early and to engage with the authority from a position of procedural strength. Engaging a lawyer in Sweden with cross-border experience is particularly valuable where the conduct in question spans multiple European markets and may also trigger EU-level review by the European Commission.
For an international comparison of competition enforcement trends, including developments in other EU member states, the alert covering competition enforcement in Portugal provides a useful parallel analysis.
About Ferraz & Whitmore
Ferraz & Whitmore is an international law firm based in Lisbon, advising business clients across 46 jurisdictions. Our competition law practice covers enforcement defence, merger notification, leniency applications, and follow-on damages claims across European markets, including Sweden and the broader Nordic region. As a law firm in Sweden with cross-border reach, we combine direct knowledge of the Konkurrensverket's enforcement approach with a broader EU competition law perspective. Our attorneys have advised on competition matters before both national authorities and the European Commission, supporting clients in both civil law and common law settings. The firm's Lisbon base provides direct access to EU regulatory frameworks, while our common law expertise supports enforcement and arbitration strategies in English-speaking jurisdictions. To discuss your competition law position in Sweden, contact us at info@ferrazwhitmore.com.
Disclaimer: This publication is provided for informational purposes only and does not constitute legal advice. The information herein should not be relied upon as a substitute for professional legal counsel tailored to your specific circumstances. Ferraz & Whitmore assumes no liability for actions taken or not taken based on the contents of this material. For advice regarding your particular situation, please contact info@ferrazwhitmore.com.