Supervisory measures

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

Date
Decision Legal validity
17.9.2018 FIN-FSA issues public warning to pension fund Reka Eläkekassa for omissions concerning risk management of investment activities and organisation of corporate governance. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​17.9.2018 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. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​22.8.2018 FIN-FSA issues public warning to and imposes penalty payment on Aalto Bankers Ltd. 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.
​11.7.2018 FIN-FSA issues public warning to Unemployment Fund of the Construction Sector for breach of internal control and risk management requirements. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​10.7.2018 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 December 2018). ​According to the Helsinki Administrative Court, the decision has been appealed on 12 November 2018 and in connection therewith a prohibition of enforcement has been applied. By an interim decision rendered on 3 December 2018, the Helsinki Administrative Court prohibited the enforcement of the conditional fine so that Koncar’s assets may be seized but not sold.
​17.5.2018 ​FIN-FSA appoints an authorised representative to oversee the ongoing activities of Pohjantähti Mutual Insurance Company No appeal against the decision has been lodged, therefore the decision is legally binding.​
​11.4.2018 Financial Supervisory Authority imposes a penalty payment of EUR 400,000 on Nordea Bank AB (publ), Finnish Branch for omissions concerning transaction reporting. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​22.2.2018 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. (updated on 7 September 2018)

According to the Helsinki Administrative Court, the decision has been appealed and is therefore not yet legally binding. The Administrative Court has not yet resolved Koncar's appeal.

When lodging appeal, Koncar has also applied for a prohibition of enforcement of the decision. The Helsinki Administrative Court has, by an interim decision rendered on 21 June 2018, rejected the appeal made against the enforcement of the decision. Subsequently, by a decision rendered on 3 September 2018, the Supreme Administrative Court rejected Koncar's application for a permission to appeal the interim decision of the Helsinki Administrative Court concerning prohibition of enforcement.

​1.11.2017 FIN-FSA issues public warning to Finnish P&C Insurance Ltd for breach of risk management requirements. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​13.7.2017 The FIN-FSA has imposed an administrative fine of EUR 5,000 on Hufvudstadsbladets Pensionsstiftelse for neglect of reporting. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​15.3.2017 The FIN-FSA has imposed an administrative fine of EUR 5,000 on Bank of Åland Plc for neglect of reporting. No appeal against the decision has been lodged, therefore the decision is legally binding.​
​8.3.2017 ​Financial Supervisory Authority issues public warnings to and imposes penalty payments on four companies No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​28.2.2017 FIN-FSA imposes administrative fine on Finnish P&C Insurance Ltd for neglect of reporting ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​12.12.2016 Financial Supervisory Authority imposes penalty payments of EUR 5,000 to Ixonos Plc and Takoma Oyj. No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​25.11.2016 ​FIN-FSA has imposed a penalty payment of EUR 35,000 on Investors House Oyj. ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​1.9.2016 FIN-FSA imposes administrative fine on Bothnia International Insurance Company Ltd. for delayed reporting. ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​14.6.2016 FIN-FSA issues a public warning to Helsinki Area Cooperative Bank for misleading marketing. ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​13.6.2016 ​FIN-FSA issues a public warning to FIT Biotech Ltd. ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​6.6.2016 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. ​No appeal against the decision has been lodged, therefore the decision is legally binding.
​19.1.2016 FIN-FSA has imposed seven administrative fines for neglect of reporting. No appeals against the decisions have been lodged, therefore the decisions are legally binding.
​14.12.2015 FIN-FSA imposes an administrative fine on Carlson Capital UK LLP for delay in notification of short positions subject to public disclosure. No appeal against the decision has been lodged, therefore the decision is legally binding.
​10.9.2015 FIN-FSA imposes two administrative fines on companies belonging to SEB Group for delays in disclosure of major shareholdings. No appeals against the decisions have been lodged, therefore the decisions are legally binding.
5.6.2015 The Financial Supervisory Authority (FIN-FSA) has issued public reprimands to BlackRock, Inc. and BlackRock Investment Management (UK) Limited.                 No appeals against the decisions have been lodged, therefore the decisions are legally binding.
1.6.2015 FIN-FSA imposes administrative fine on Cevian Capital II Master Fund L.P. for delay in disclosure of major shareholdings. No appeal against the decision has been lodged, therefore the decision is legally binding.
​29.5.2015 FIN-FSA has imposed an administrative fine on Noster Credit Opportunities Master Fund Limited for delay in notification of short positions. 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.
29.5.2015 FIN-FSA has imposed administrative fine on Finnvera plc. for delay in disclosure of major shareholdings. No appeal against the decision has been lodged, therefore the decision is legally binding.
​13.3.2015 FIN-FSA has imposed three administrative fines for neglect of reporting. No appeals against the decisions have been lodged, therefore the decisions are legally binding.
4.3.2015 FIN-FSA imposes three administrative fines for delays in disclosure of major shareholdings. No appeals against the decisions have been lodged, therefore the decisions are legally binding.
11.11.2014 FIN-FSA has imposed a penalty payment in the amount of EUR 100,000 on Navi Group Ltd. The Market Court gave its decision on the subject on 23 September 2015. 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.
10.7.2014 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. No appeal against the decision has been lodged, therefore the decision is legally binding.
13.3.2014 FIN-FSA has imposed two administrative fines for neglect of declaration of insider holdings.                 No appeals against the decisions have been lodged, therefore the decisions are legally binding.
7.3.2014 FIN-FSA has issued a public warning to Nordea Bank Finland Plc. No appeal against the decision has been lodged, therefore the decision is legally binding
22.1.2014 FIN-FSA revokes decision to designate an authorised representative to oversee the operations of Navi Group Oy.                 No appeal against the decision has been lodged, therefore the decision is legally binding
5.11.2013 Financial Supervisory Authority imposes an administrative fine for non-compliance with the reporting obligation. No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
16.9.2013 Financial Supervisory Authority imposes three administrative fines for non-compliance with the reporting obligation. No appeal against the decision has been lodged, therefore the decision is legally binding
31.7.2013 Financial Supervisory Authority issues public warning to Eufex Bank Plc.                 No appeal against the decision on public warnig has been lodged, therefore the decision is legally binding.
31.5.2013 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.                 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.
28.5.2013 Financial Supervisory Authority imposes an administrative fine on Aval Asset Management Oy for non-compliance with the reporting obligation. No appeal against the decision to impose an administrative fine has been lodged, therefore the decision is legally binding.
29.4.2013 Taaleritehdas Fund Management Ltd fined for violation of Mutual Funds Act limitations on investment of assets. No appeal against the decisions to impose an administrative fine has been lodged, therefore the decision is legally binding.
11.4.2013 FIN-FSA restricts Navi Group Oy’s authorised operations and designates an attorney for the company. 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.
7.2.2013 Financial Supervisory Authority issues public warning to Ålandsbanken Abp.                 No appeal against the decision public warnig has been lodged, therefore the decision is legally binding.