Reporting release 22 April 2026 - 10/2026

Reminder to review validation feedback reports | EBA EIOPA ESMA National Reporting (Virati)

The Finnish Financial Supervisory Authority (FIN-FSA) reminds supervised entities of their obligation to submit accurate and timely supervisory data. FIN-FSA has recently observed several deficiencies in the quality of the supervisory information regularly reported by supervised entities.  If a supervised entity detects errors or inaccuracies in data already reported, they must be corrected without undue delay.

For the data collections reported in FIN-FSA’s reporting system for supervised entities, automatic quality assurance checks have been implemented. However, the automatic validations do not cover nearly all quality assurance needs, nor do they remove the supervised entity’s responsibility to submit correct and error-free information.

FIN-FSA reminds supervised entities to review validation feedback and feedback reports. The feedback reports concern reports submitted to the ECB, EBA, EIOPA or ESMA. If the validation feedback contains warning- or error-level results, the necessary corrections should be made to the report with regard to format and authority checks or an explanation of the warning-level results should be provided to FIN-FSA.

With regard to the data collections for national reporting (Virati and Vakra), it should be noted that automatic sum formulas have not been implemented in the reporting forms for the data collections; instead, the sum formulas have been replaced by warning- and error-level results in the validation feedback.

Pursuant to section 38, subsection 1, paragraph 1 of the Act on the Financial Supervisory Authority, the FIN-FSA may impose an administrative fine on a party that neglects or breaches its obligation to submit data to be regularly submitted to the FIN-FSA under provisions or regulations for the fulfilment of its statutory tasks.

For further information,