Mission

Our activities are aimed at ensuring financial stability and the necessary smooth operation of credit, insurance and pension institutions, and other supervised entities. Another aim is to safeguard the interests of the insured and to maintain confidence in the financial markets. We are also responsible for fostering compliance with good practice in, and public awareness of, financial markets. These objectives and tasks are documented in the Act on the Financial Supervisory Authority.

FIN-FSA’s tasks by department

Supervision of Markets and Conduct of Business

  • Monitors the appropriateness of investor information and market practices related to securities issuance, listed companies, disclosure of major holdings and takeover bids
  • Carries out enforcement of IFRSs and other financial reporting, from the perspective of investor information
  • Responsible at FIN-FSA for matters concerning auditing
  • Supervises trading and transaction reporting and investigates potential cases of abuse in securities markets
  • Oversees the operation of marketplaces
  • Monitors the appropriateness of investor information and market practices related to mutual fund activity, asset management and offering of securities-linked insurance and savings products
  • Supervises payment institutions and payment service providers
  • Supervises conduct of service providers in the banking, insurance and securities sectors in regard to customer relationships and the lawfulness of products and marketing
  • Deals with financial service providers’ applications for authorisation and registration and monitors the appropriateness of internal processes
  • Participates in domestic and international cooperation within its areas of concern 

Banking Supervision

  • Responsible for prudential supervision of the credit institutions sector, in cooperation with the European Central Bank
  • Supervises credit institutions’ internal governance, risk management procedures and risk-taking
  • Responsible for international cooperation, including within colleges of supervisors, within its own field of competence

Financial Analysis and Operational Risks

  • Prepares and coordinates macroprudential policy
  • Analyses the operating environment of supervised entities and the sector's profitability and capital adequacy
  • Supervises operational risks and securities market infrastructure
  • Designs and maintains data collections

Insurance Supervision

  • Takes overall responsibility for solvency supervision of the insurance sector, i.e. ensures that the entities have the financial means to fulfil their obligations, such as pay claims and pensions
  • Supervises life and non-life insurance companies’ and pension institutions’
    • internal governance and risk management procedures
    • underwriting risks, such as calculation of technical provisions and the adequacy of technical provisions
    • investment risks
  • Supervises the economic position and solvency of unemployment funds, their internal governance, customer relation practices and application practices
  • Supervises the accuracy of financial statement data of supervised entities in the insurance sector in terms of profitability and solvency
  • Responsible for international cooperation, including within colleges of supervisors, within its own field of competence

 

 

 

1 September 2017

Financial Supervisory Authority - Snellmaninkatu 6, P.O. Box 103, 00101 Helsinki - Tel. +358 9 183 51   kirjaamo(at)finanssivalvonta.fi  |  Disclaimer  |  About the site  
The Bank of Finland, it-tuki(at)bof.fi, is responsible for the technical functioning of the website.