Approval of the prospectus 

The prospectus is approved by the competent authority of the home Member State of the security concerned. If the home Member State of a security is Finland, the competent authority is FIN-FSA. A national prospectus is always approved by FIN-FSA.

The home Member State of a security is either the issuer's domicile under company law or, with certain reservations, another state chosen by the issuer. The issuer may choose the home Member State of a security when derivative securities or securities other than equity are being issued with a minimum denomination per unit of EUR 1,000.

Submission of approval application to FIN-FSA

Approval of a prospectus is applied for in writing from FIN-FSA. Any exemptions from the content or publication of the prospectus must also be applied for in writing from FIN-FSA.

All documents and information making up the prospectus, including documents incorporated by reference, must be appended to the application. The application must be furnished with a cross-reference list indicating the pages of the prospectus where each of the information items required under the Commission's Regulation on Prospectuses or its Annexes is presented.

The prospectus and related applications must be submitted to FIN-FSA during office hours (9.00 am to 4.15 pm) at the address

Financial Supervisory Authority
P.O. Box 103 (street address Snellmaninkatu 6)
00101 Helsinki.

Prior to submission of an official application, a draft prospectus may be sent to FIN-FSA for comment, if necessary. If the applicant considers that the prospectus includes special features or pro forma information or that there is a need for an exemption, prior consultation with FIN-FSA is also advisable.

Transfer of the approval of a prospectus to another authority

The FIN-FSA may decide that the approval of a prospectus be transferred to the authority of another Member State, subject to agreement with that authority. Such transfer is possible, for instance, when the compiler of the prospectus requests transfer and the securities are not offered to the public in Finland.

The transfer will be reported to the applicant within three days from the date of the decision on the transfer.