Press release 20 November 2020
Administrative fine imposed on Aktia Bank Plc for incorrect FINREP reporting
The Financial Supervisory Authority (FIN-FSA) has imposed an administrative fine of EUR 40,000 on Aktia Bank Plc due to the fact that, during the period 1 October 2017 to 31 March 2019, the company reported incorrect information (FINREP F19 report) on forbearance exposures in accordance with the EU Capital Requirements Regulation and the Commission Regulation adopted pursuant thereto. In addition, there have been inaccuracies in FINREP reports F20.4 Geographical breakdown of assets by residence of the counterparty and F20.5 Geographical breakdown of off-balance sheet exposures by residence of the counterparty.
According to the Act on the Financial Supervisory Authority, the amount of an administrative fine is based on an overall assessment. In assessing the amount of the administrative fine, consideration has been given to the nature, scope and duration of the conduct. The administrative fine is ordered payable to the State.
The decision on the imposition of the administrative fine is not yet legally binding. The company has the right to appeal the decision to the Helsinki Administrative Court within 30 days of receipt of notice of the decision. Information on the legal validity of the decision is available on the FIN-FSA website.
For further information, please contact
Sonja Lohse, Chief Advisor
Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030 (weekdays 9.00–16.00).
Decision of the Financial Supervisory Authority (pdf, in Swedish)