Stockholm, 4 August 2016 – TrustWeaver obtains status of Qualified Trust Service Provider under the European eIDAS Regulation
TrustWeaver has become the first company in Sweden to be granted the status of Qualified Trust Service Provider (QTSP) under the new regulatory framework commonly referred to as ‘eIDAS’.
TrustWeaver will be on the Swedish Trusted Service List (TSL) as a provider of the Qualified Trusted Services of validation of electronic signatures and ‘seals’, which respectively cover individuals and enterprises. The TSL acts as an EU-wide trust mechanism that increasingly supports automated verification of a service provider’s status. As a Qualified Trust Service Provider, TrustWeaver also fulfills the requirements for remote creation of qualified electronic signatures and seals.
“We are very proud to be the first company in Sweden and one of the first in all of the European Union to obtain the status of Qualified Trust Service Provider”, said Stina Treven, TrustWeaver’s CEO. “As a QTSP, we’re well positioned to continue to seamlessly provide our customers with a top-of-the-line compliance service, ensuring legal certainty in an ever-evolving regulatory landscape.”
The Swedish Supervisory Body, PTS (Post- och telestyrelsen) has made the decision publically available on its website. The PTS press-release, as well as the full-length version of the decision to appoint TrustWeaver as a Qualified Trust Service Provider, is available in Swedish here.
The eIDAS Regulation was adopted in 2014 and entered into force in July 2016. In addition to the issuers of digital ‘certificates’ (also known as ‘certification authorities’), which identify individuals or enterprises and can be used for various security processes such as data authentication, eIDAS introduces new regulated trust services including the creation and validation of electronic signatures, time-stamps and electronic registered delivery services. Each of these trust services can be performed on different levels. The highest or ‘qualified’ level comes with unprecedented levels of legal recognition because they get registered on the Europe-wide Trust Service List as meeting stringent regulatory standards. Trust service providers offering qualified services are subject to rigorous assessment, regulatory supervision and onerous liability provisions.
Trust service providers that don’t meet the ‘qualified’ level cannot market the same high level of legal certainty resulting from their services.
TrustWeaver (www.trustweaver.com) provides a comprehensive Cloud-based compliance service for electronic invoicing and other legally critical documents for more than 55 countries. From a single technical interface and through our unique Compliance MapTM concept, more than 60 world-leading B2B integration brokerage vendors in our partner network automatically provide interoperable legal certainty to trading partners that use their solutions, regardless of changes in legislation. TrustWeaver’s unique blend of legal and technical components allows modern organizations to execute their ERP, workflow, archiving and B2B consolidation strategies with guaranteed respect for the multiple national and sectoral laws governing such transactions as well as their long-term retention and auditability. In business since 2001, TrustWeaver is headquartered in Stockholm, Sweden.