Supervisory measures

On this page, FIN-FSA publishes its administrative sanctions and supervisory measures.

FIN-FSA decisions and related press releases issued in 2012 or before are available by email order from the FIN-FSA’s registry at kirjaamo(at)fiva.fi. For the registry’s other contact details, see here.

Date Decision Legal validity
23 Jan 2019 The Financial Supervisory Authority has imposed a penalty payment on Dorval Asset Management S.A., Kabouter Management LLC and Kabouter International Opportunities Fund II, LLC for delays in notification of major holdings. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
17 Sep 2018 FIN-FSA issues public warning to pension fund Reka Eläkekassa for omissions concerning risk management of investment activities and organisation of corporate governance. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​17 Sep 2018 The Financial Supervisory Authority (FIN-FSA) has imposed a penalty payment of EUR 50,000 on Plc Uutechnic Group Oyj, as the company violated the disclosure obligation of an issuer of shares in autumn 2015. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​22 Aug 2018 FIN-FSA issues public warning to and imposes penalty payment on Aalto Bankers Ltd. Read more Aalto Bankers Ltd. have lodged appeal against the decision with the Helsinki Administrative Court and the decision is therefore not yet legally binding. The Helsinki Administrative Court has not yet resolved the appeal.
​​11 Jul 2018 FIN-FSA issues public warning to Unemployment Fund of the Construction Sector for breach of internal control and risk management requirements. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​10 Jul 2018 On 9 July 2018 the Financial Supervisory Authority ordered Danko Koncar to pay the base amount of the conditional fine, imposed to him on 21 February 2018, of 40,000,000 euro and the supplementary amount of 10,000,000 euro accrued by that date. Read more, Q&A (updated on 12 March 2019). ​On 1 March 2019, the Helsinki Administrative Court rejected the appeal made by Koncar to repeal the FIN-FSA decision of 9 July 2018 to order Koncar to pay the base amount of the fine, 40,000,000 euro. However, the Administrative Court repealed the FIN-FSA decision regarding the supplementary amount of the conditional fine, 10,000,000 euro. The Administrative Court’s decision is not yet legally binding. The decision may be appealed to the Supreme Administrative Court if it grants permission to appeal. The permission to appeal must be sought within 30 days of service of the decisions of the Administrative Court.

 

​17 May 2018 ​FIN-FSA appoints an authorised representative to oversee the ongoing activities of Pohjantähti Mutual Insurance Company. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​11 Apr 2018 Financial Supervisory Authority imposes a penalty payment of EUR 400,000 on Nordea Bank AB (publ), Finnish Branch for omissions concerning transaction reporting. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​​22 Feb 2018

The Financial Supervisory Authority (FIN-FSA) has obliged Danko Koncar to launch a takeover bid referred to in the Securities Markets Act for Afarak Group Plc shares and imposed running conditional fines to enforce the obligations. Read more, Q&A 21.2.2018 (updated on 12 March 2019)

The Financial Supervisory Authority (FIN-FSA) is disclosing annex 2 to the FIN-FSA decision of 21 February 2018, part of which is to be considered confidential. The annex is public in respect of the email messages contained in the prosecutor’s decision (no. 19/136) not to prosecute that was published on 15 January 2019.

 

On 1 March 2019, the Helsinki Administrative Court rejected the appeal made by Danko Koncar to repeal the FIN-FSA decision of 21 February 2018. The Administrative Court’s decision is not yet legally binding. The decision may be appealed to the Supreme Administrative Court if it grants permission to appeal. The permission to appeal must be sought within 30 days of service of the decisions of the Administrative Court.

​​1 Nov 2017

FIN-FSA issues public warning to Finnish P&C Insurance Ltd for breach of risk management requirements. Read more (in Finnish)

No appeal against the decision has been lodged, therefore the decision is legally binding.​
​13 Jul 2017 The FIN-FSA has imposed an administrative fine of EUR 5,000 on Hufvudstadsbladets Pensionsstiftelse for neglect of reporting. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​15 Mar 2017 The FIN-FSA has imposed an administrative fine of EUR 5,000 on Bank of Åland Plc for neglect of reporting. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.​
​​8 Mar 2017 ​Financial Supervisory Authority issues public warnings to and imposes penalty payments on four companies. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​28 Feb 2017 FIN-FSA imposes administrative fine on Finnish P&C Insurance Ltd for neglect of reporting. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​12 Dec 2016 Financial Supervisory Authority imposes penalty payments of EUR 5,000 to Ixonos Plc and Takoma Oyj. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​25 Nov 2016 ​FIN-FSA has imposed a penalty payment of EUR 35,000 on Investors House Oyj. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​​1 Sep 2016 FIN-FSA imposes administrative fine on Bothnia International Insurance Company Ltd. for delayed reporting. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​​14 Jun 2016 FIN-FSA issues a public warning to Helsinki Area Cooperative Bank for misleading marketing. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​13 Jun 2016 ​FIN-FSA issues a public warning to FIT Biotech Ltd. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​​6 Jun 2016 FIN-FSA imposes an administrative fine of EUR 20 000 on Capstone Volatility Master (Cayman) Limited. The company failed to comply with the disclosure requirement concerning short positions. Read more ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​19 Jan 2016 FIN-FSA has imposed seven administrative fines for neglect of reporting. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​14 Dec 2015 FIN-FSA imposes an administrative fine on Carlson Capital UK LLP for delay in notification of short positions subject to public disclosure. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.
​10 Sep 2015 FIN-FSA imposes two administrative fines on companies belonging to SEB Group for delays in disclosure of major shareholdings. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​5 Jun 2015 The Financial Supervisory Authority (FIN-FSA) has issued public reprimands to BlackRock, Inc. and BlackRock Investment Management (UK) Limited. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
1 Jun 2015 FIN-FSA imposes administrative fine on Cevian Capital II Master Fund L.P. for delay in disclosure of major shareholdings. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.
​​29 May 2015 FIN-FSA has imposed an administrative fine on Noster Credit Opportunities Master Fund Limited for delay in notification of short positions. Read more The decision is legally binding. The company appealed against the decision to the Market Court, which rejected the appeal through its decision of 26 April 2016, which is legally binding.
​29 May 2015 FIN-FSA has imposed administrative fine on Finnvera plc. for delay in disclosure of major shareholdings. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.
​13 Mar 2015 FIN-FSA has imposed three administrative fines for neglect of reporting. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
4 Mar 2015 FIN-FSA imposes three administrative fines for delays in disclosure of major shareholdings. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
11 Nov 2014 FIN-FSA has imposed a penalty payment in the amount of EUR 100,000 on Navi Group Ltd. Read more The Market Court gave its decision on the subject on 23 September 2015, read more. The FIN-FSA appealed the decision to the Supreme Administrative Court, which, however, rejected the appeal by its decision of 14 December 2016. Consequently, the ruling of the Market Court remained in place. Read more
10 Jul 2014 FIN-FSA has issued a public warning to Aurejärvi Wealth Management Ltd for neglecting to fulfil the provisions regarding a company’s obligations to arrange its activities in a reliable manner. Read more No appeal against the decision has been lodged, therefore the decision is legally binding.
13 Mar 2014 FIN-FSA has imposed two administrative fines for neglect of declaration of insider holdings. Read more No appeals against the decisions have been lodged, therefore the decisions are legally binding.
7 Mar 2014 FIN-FSA has issued a public warning to Nordea Bank Finland Plc. Read more No appeal against the decision has been lodged, therefore the decision is legally binding
22 Jan 2014 FIN-FSA revokes decision to designate an authorised representative to oversee the operations of Navi Group Oy. Read more No appeal against the decision has been lodged, therefore the decision is legally binding
5 Nov 2013 Financial Supervisory Authority imposes an administrative fine for non-compliance with the reporting obligation. Read more No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
16 Sep 2013 Financial Supervisory Authority imposes three administrative fines for non-compliance with the reporting obligation. Read more No appeal against the decision has been lodged, therefore the decision is legally binding
31 Jul 2013 Financial Supervisory Authority issues public warning to Eufex Bank Plc. Read more No appeal against the decision on public warnig has been lodged, therefore the decision is legally binding.
31 May 2013 FIN-FSA changes the prohibition of execution issued on Navi Group Oy on 9 April 2013 and further restricts the authorised operations of Navi Group Oy. Read more The decision is legally binding. The company appealed against the decision to the Helsinki Administrative Court, which rejected the appeal through its decision of 11 February 2014, which is legally binding.
28 May 2013 Financial Supervisory Authority imposes an administrative fine on Aval Asset Management Oy for non-compliance with the reporting obligation. Read more No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
29 Apr 2013 Taaleritehdas Fund Management Ltd fined for violation of Mutual Funds Act limitations on investment of assets. Read more No appeal against the decisions to impose an administrative fine has been lodged, therefore the decision is legally binding.
11 Apr 2013 FIN-FSA restricts Navi Group Oy’s authorised operations and designates an attorney for the company. Read more The decisions are legally binding. The company appealed against the decisions to the Helsinki Administrative Court, which rejected the appeals through its decision of 11 February 2014, which is legally binding.
7 Feb 2013 Financial Supervisory Authority issues public warning to Ålandsbanken Abp. Read more No appeal against the decision public warnig has been lodged, therefore the decision is legally binding.
20 Dec 2012 By virtue of the Securities Markets Act, the Financial Supervisory Authority prohibits Vitalon Power Oy from continuing to market its share issue and orders the company to correct its marketing procedures. No appeal against the decision has been lodged, therefore the decision is legally binding.
1 Nov 2012 Financial Supervisory Authority imposes an administrative fine on Optium Oy for non-compliance with the reporting obligation. No appeal against the decisions to impose an administrative fine has been lodged, therefore the decision is legally binding.
1 Nov 2012 Financial Supervisory Authority issues public warning to L-Fashion Group Oy's pension fund. No appeal against the decision public warnig has been lodged, therefore the decision is legally binding.
27 Sep 2012 The Financial Supervisory Authority (FIN-FSA) has imposed three (3) administrative fines for failure to comply with the obligation to provide information. The decisions are legally binding.
31 Aug 2012 Financial Supervisory Authority issues public reprimand to savings bank Mietoisten Säästöpankki. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
1 Aug 2012 Financial Supervisory Authority issues public reprimand to Eufex Fund Administration Ltd. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
27 Jun 2012 The Financial Supervisory Authority has imposed seven (7) administrative fines for failure to comply with the obligation to provide information. No appeal against the decisions to impose an administrative fine has been lodged, therefore the decision is legally binding.
20 Jun 2012 Financial Supervisory Authoirty issues public reprimand and imposes administrative fine on UB Securities Ltd. No appeal against the decision on public reprimand or the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
10 May 2012 Financial Supervisory Authority issues public warning to Tapiola Bank Ltd.                 No appeal against the decision on public warnig has been lodged, therefore the decision is legally binding.
20 Apr 2012 Pyhäselän Paikallisosuuspankki warned for breach of risk management requirements. No appeal against the decision on public warnig has been lodged, therefore the decision is legally binding.
28 Feb 2012 The Financial Supervisory Authority has issued FIM Asset Management Ltd an administrative fine for violation of the limitations on investment of assets laid down in the Mutual Funds Act. No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
30 Jan 2012 The Financial Supervisory Authority has issued Power-Deriva Oy an administrative fine for failing to comply with obligation related to the keeping of insider registers. No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
12 Oct 2011 The Financial Supervisory Authority has issued a private person an administrative fine for breach of the obligation to report insider holdings. No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
7 Sep 2011 OP-Pohjola Group Central Cooperative reprimanded for failure to comply with the obligation to disclose major shareholdings and for the related lack of internal control. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
5 May 2011 Bank of Åland Plc reprimanded for neglect of disclosure of periodic information. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
5 May 2011 Incap Corporation reprimanded for neglect of the disclosure obligation as referred to in the EU Commission's Prospectus Regulation and the Securities Markets Act. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
7 Dec 2010 SEB Enskilda Corporate Finance Oy Ab reprimanded for failing to comply with obligations related to the keeping of the company-specific insider register. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
30 Sep 2010 Handelsbanken Mutual Fund Company Ltd issued an administrative fine for breach of mutual fund rules. No appeal against the decision on administrative fine has been lodged, therefore the decision is legally binding.
30 Sep 2010 Icecapital Securities Ltd publically reprimanded for failing to comply with obligations related to the keeping of insider registers. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
2 Sep 2010 Honkarakenne Oyj publically reprimanded for failing to comply with regular disclosure requirements. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
29 Mar 2010 Financial Supervisory authority withdraws Sofia Bank’s authorisation in order to safeguard depositor interests. No appeal against the decision has been lodged, therefore the decision is legally binding.
26 May 2009 FIN-FSA has issued a public reprimand to Danske Bank A/S Helsinki Branch for failure to disclose holdings. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.
8 Apr 2009 Public reprimand to Swedish Fundior AB for failure to comply with prospectus requirements. No appeal against the decision on public reprimand has been lodged, therefore the decision is legally binding.