Powers and funding

The Financial Supervisory Authority (FIN-FSA) is Finland's financial and insurance supervisory authority. The supervised entities are

  • banks
  • insurance, life insurance and reinsurance companies
  • employee pension insurance companies
  • pension funds
  • pension and employee sickness funds and other employee benefit funds
  • insurance associations
  • unemployment funds
  • insurance representatives
  • other entities active in the insurance sector (including  Local Government Pensions Institution, Church Central Fund)
  • investment firms
  • fund management companies
  • Finnish Central Securities Depository (APK)
  • stock exchange
  • payment institutions

Essentially the same supervisory powers and administrative sanctions are applied to both financial and insurance sector supervised entities.

Supervised entities provide 95% of the financing needed to cover our activities, and the remaining 5% comes from the Bank of Finland. Accordingly, the majority of the costs are covered via various processing fees and specific tax-type supervision fees levied from those subject to supervision.

The Financial Supervisory Authority operates administratively in connection with the Bank of Finland, but is independent in its decision-making.

 

 

 

28 June 2010

Financial Supervisory Authority - Snellmaninkatu 6, P.O. Box 103, 00101 Helsinki - Tel. +358 9 183 51   kirjaamo(at)finanssivalvonta.fi  |  Disclaimer  |  About the site  
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