Service providers operating in the financial markets require authorisation for the pursuance of their activities. The European Central Bank (ECB), The Financial Supervisory Authority (FIN-FSA), Ministries of Finance and of Social Affairs and Health and the Council of State have been empowered to grant authorisations in Finland. An authorisation can only be granted to an entity, not to a natural person.
The FIN-FSA grants authorisations for credit institutions, Finnish life, non-life and reinsurance companies, investment firms, fund management companies and custodians. Authorisations for securities and derivatives exchanges as well as central securities depositories are granted by the Ministry of Finance. The Council of State grants authorisations for employment pension insurance companies and the Ministry of Social Affairs and Health for unemployment funds.
This directory provides details regarding the application for such authorisation as are granted by the FIN-FSA. We also provide information on conditions for authorisation and on conditions on which a foreign service provider can establish a branch in Finland or provide services on a remote basis. Information is also given on registration as an insurance intermediary.
The Financial Supervisory Authority grants authorisations to the following:
- domestic life, non-life and reinsurance companies
- investment firms
- branches of investment firms operating outside the EEA
- fund management companies and custodians
- authorisation of alternative investment fund manager
- branches of credit institutions from outside the EEA, operating in Finland
- insurance companies from outside the EEA
- branches of investment firms and fund management companies from outside the EEA, operating in Finland
- investment firms and fund management companies from outside the EEA, providing cross-border services in Finland