FIN-FSA

The Finnish Financial Supervisory Authority (Finanssivalvonta or FIN-FSA) is the primary regulatory authority overseeing Finland’s financial markets. Established in 2009, FIN-FSA has played a crucial role in ensuring the stability and integrity of the country’s financial sector.

FIN-FSA History

FIN-FSA was created in 2009 as a result of merging the Financial Supervision Authority and the Insurance Supervision Authority into a single entity. The merger aimed to streamline financial regulation in Finland and provide more comprehensive oversight of the financial sector.

FIN-FSA Scope and Supervision

FIN-FSA’s primary objective is to maintain the stability and integrity of Finland’s financial sector. Its wide-ranging responsibilities include:

1. Regulating and supervising financial institutions: FIN-FSA oversees various financial institutions, such as banks, investment firms, insurance companies, and pension funds, ensuring they adhere to strict regulations and maintain market stability.
2. Supervising the securities markets: FIN-FSA is responsible for regulating and supervising the securities markets in Finland, ensuring proper disclosure, transparency, and fair trading practices.
3. Implementing anti-money laundering and counter-terrorism financing measures: FIN-FSA enforces compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations to maintain the integrity of the financial system.
4. Protecting consumers and investors: FIN-FSA works to safeguard the interests of consumers and investors by enforcing regulations, promoting transparency, and raising awareness of potential risks.

FIN-FSA Investor Compensation Guarantees

FIN-FSA administers the Finnish Deposit Guarantee Fund (Talletussuojarahasto) and the Finnish Investor Compensation Fund (Sijoittajien Korvausrahasto). These funds provide compensation to eligible investors and depositors in cases where a financial institution fails or becomes insolvent. The Deposit Guarantee Fund covers deposits of up to €100,000 per depositor and per institution. The Investor Compensation Fund covers investments up to €20,000 per investor and per institution. These guarantees ensure that investors are protected from the adverse effects of financial institution failures.

Organization Type

FIN-FSA is an independent government agency that operates under the jurisdiction of the Bank of Finland and the Finnish Ministry of Finance. Its independent status allows FIN-FSA to make impartial decisions in the best interest of the financial markets and investors. FIN-FSA is governed by a board of directors, which is responsible for setting the strategic direction and ensuring effective oversight of the agency’s operations. The day-to-day operations of FIN-FSA are managed by its Director General, who is supported by a team of specialists and experts.