Consumer credit intermediaries

Registration of a consumer credit intermediary

The obligation to register as a consumer credit intermediary is laid down in the Act on Certain Consumer Credit Intermediaries (33/2026).

Requirements for the content of the registration notification

The registration notification must include:

  • The information of the party making the notification
  • A description of the nature and scope of the activities
  • Information on whether the party making the notification provides consumer credit advisory services
  • A statement on the fitness and propriety and knowledge of credit activities of the party making the notification or, where the party is a legal person, of its senior management

Under the Act, the entity must also notify the Finnish Supervisory Authority (FIN-FSA) immediately of changes to the information entered in the register and of possible termination of activities.

Statement on the notifying party’s knowledge of credit activities

The professional requirements applicable to consumer credit intermediaries and their senior management are laid down in the Government decree.

The party making the notification must demonstrate that it or, where it is a legal person, its senior management has the required competence and knowledge in accordance with the Government decree on the professional requirements of lenders and credit intermediaries in certain consumer credits. Senior management refers to the notifying party’s CEO, deputy CEO, members and deputy members of the board of directors, members and deputy members of a body comparable to the board of directors, responsible partners or other persons belonging to senior management. Other persons belonging to senior management are typically considered to be, for example, members of the management team and the heads of individual business areas.

The expertise requirement applies to senior management as a collective. Therefore, not all members of senior management are necessarily required to have knowledge of credit activities; it is sufficient that senior management collectively have the necessary knowledge and competence.

Relevant knowledge must include at least knowledge of:

  • consumer credits falling within the scope of chapter 7 of the Consumer Protection Act and, if necessary, additional services related to them
  • the consumer protection legislation relating to these credits and other legislation where applicable
  • the consumer’s creditworthiness assessment process; and
  • the credit market in Finland

In addition, the party making the notification must have, with regard to the nature and scope of its activities, appropriate knowledge of and competence in 1) the preparation, offering and provision of credit agreements, 2) credit intermediation, 3) the provision of advisory services and 4) the related consumer rights.

The required competence and knowledge must be demonstrated by an appropriate degree or other academic qualification and work experience. The necessary documents may include, for example, CVs, diplomas and work certificates as well as certificates of participation in significant educational programmes or professional courses. The required knowledge and competence must be kept up to date.

Notification forms

In order to facilitate the making and processing of a notification, the FIN-FSA has prepared a registration form for entities applying for registration. The FIN-FSA recommends that entities use the Fit & Proper form to submit information regarding the fitness and propriety of entity’s senior management.

  • Notification forms

The FIN-FSA recommends that entities use the same forms for notifications of changes to information entered in the register.

Notification of a possible termination of operations can be made free-form.

Submission of a register notification

The notification with its attachments is submitted to the FIN-FSA Registry either

  • by post to the address Finanssivalvonta, Kirjaamo, PL 103, 00101 Helsinki
  • by email to the address kirjaamo(at)finanssivalvonta.fi (secure email instructions).

Progress of the registration procedure in the FIN-FSA

After receiving the register notification, the FIN-FSA assesses whether the entity fulfils the statutory requirements, and issues a decision on the case. If the application is incomplete, the FIN-FSA will ask for further clarification before deciding on the matter. The quality and completeness of the notification will influence the total processing time.

Register of registered credit intermediaries

 In accordance with Section 5 of the Act on the Registration of Certain Credit Providers and Credit Intermediaries (186/2023), the FIN-FSA maintains a register of entities who have been registered as credit intermediaries.

Registration and supervision fee

An hourly processing fee is charged for registration in accordance with the FIN-FSA’s schedule of processing fees.

Entities in the FIN-FSA register are charged a supervision fee in accordance with the Act on the Supervision Fees of the Financial Supervisory Authority (1209/2023). For a registered consumer credit intermediary, the annual basic fee is EUR 5,000.

Contact information

kuluttajaluottorekisteroinnit(at)finanssivalvonta.fi