Finanssivalvonta (Fiva), or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland’s financial and insurance sectors. The entities supervised by the new authority include banks, insurance and pension companies as well as other companies operating in the insurance sector, investment firms, fund management companies and the Helsinki Stock Exchange. As much as 95% of our activities will be funded by the supervised entities and the remainder will be provided by the Bank of Finland.
Administratively we operate in connection with the Bank of Finland, but we make independent decisions in our supervisory work. FIN-FSA has about 210 employees. Our office is situated in Helsinki.
The objective of our activities is to enable balanced operations of credit institutions, insurance and pension companies and other supervised entities in stable financial markets. Our objective is also to protect the rights of the insured and foster public confidence in financial market operations. In addition, we are responsible for promoting compliance with good practice in financial markets and disseminating general knowledge about the markets. These objectives and duties have been included in the Act on the Financial Supervisory Authority.
We work for the benefit of the users of banking, insurance and investment services.
- Chairman Pentti Hakkarainen, Deputy Governor of the Bank of Finland (Bank of Finland)
- Vice Chairman Martti Hetemäki, Permanent State Secretary (Ministry of Finance)
- Outi Antila, Director-General (Ministry of Social Affairs and Health)
- Pirkko Juntti, LLM
- Jaakko Tuomikoski, MA, SHV(1)
- Pirjo Kyyrönen, Senior Legal Advisor, Secretary of the Board
The deputy member of Pentti Hakkarainen is Kimmo Virolainen, Head of Department, the deputy member of Martti Hetemäki, Permanent Under-Secretary from the Ministry of Finance, is Tuija Taos, Director. The deputy member of Outi Antila is Mikko Kuusela, Senior Actuary.
1) Actuary accredited by the Ministry of Social Affairs and Health.
The CVs of board members
- Anneli Tuominen, Director General
- Jukka Vesala, Deputy Director General, Prudential Supervision
- Erkki Kontkanen, Chief Advisor, General Secretariat
- Marja Nykänen, Head of Department, Institutional Supervision
- Jarmo Parkkonen, Head of Market Supervision
- Erkki Rajaniemi, Advisor to the Management
- Erja Rautanen, Head of Conduct of Business Supervision
- Hely Salomaa, Chief Adivisor, Prudential Supervision
- Pirjo Kyyrönen, Senior Legal Advisor, Secretary of the Management group
The CVs of management group members
2 May 2013