Consumers

In this section, the Financial Supervisory Authority (FIN-FSA) has collected together information you might need as a customer. Here you will find information on various products and services offered in the financial markets as well as on your rights and obligations as a customer.

When problems arise, it is always advisable to turn first to the service provider whose operations you are dissatisfied with.

The FIN-FSA is not vested with the power to resolve juridical disputes between customers and service providers, such as disagreements over an obligation to pay damages or the contents of a claim decision. The FIN-FSA, moreover, cannot act as the agent of an individual customer in resolving problem situations.

If you have problems with a service provider, follow these steps:

1. Make a written record of the problems in question.
2. Contact your service provider, e.g. bank or insurance company, at their office or via their service number.
3. If the problem cannot be resolved or you demand compensation, make a written and as clear and detailed a demand for compensation as possible and deliver it to your service provider.
4. If the problem is not resolved, contact the Financial Ombudsman Bureau (FINE).

More information on page Problems with a service provider.

The Financial Supervisory Authority guides the practices of financial service providers

The objective of the Financial Supervisory Authority (FIN-FSA) is to ensure that supervised entities’ procedures are appropriate and that the information given to customers is of good quality. Supervisory measures are primarily proactive, for example the instructions and regulations given to supervised entities aimed at guiding their activities and procedures. The FIN-FSA also carries out ex-post inspection activities.

In supervision of procedures, the FIN-FSA focuses particularly on activities in which problems affect large groups of customers. The aim of supervisory measures is to have a positive impact on the entire customer base.

The entities supervised by the FIN-FSA include

• banks
• non-life 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
• 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

See also:

• How do inflation and the rise in interest rates affect my money? (pdf)
• Investments, loans, insurance or pensions with a sustainable focus: what do you need to know? (pdf)
• Survey of availability and pricing of basic banking services
• Publications and press releases
• List of supervised entities
• Bank of Finland's ‘Home emergency kit’ for payments

Warning lists:

• Prohibitions concerning insurance brokerage
• Warnings from foreign supervisory authorities
• Scams