Financial Supervisory Authority in brief
The Financial Supervisory Authority (FIN-FSA) is the authority for supervision of Finland’s financial and insurance sectors as well as the macroprudential authority. We are part of the European system of financial supervision and the common banking supervision for the euro area.
Our activities are aimed at ensuring financial stability, confidence in the financial markets as well as customer and investor protection, and the protection of insured interests. The effectiveness and efficiency of our supervision must represent the highest level in Europe.
The entities supervised by us include
- insurance and pension institutions
- other actors in the insurance sector
- investment firms
- management companies
- the central securities depository
- the stock exchange.
In addition, we supervise listed companies’ compliance with the disclosure obligation and securities trading. Our activities are mainly funded by the supervised entities. The number of personnel of the FIN-FSA’s expert organisation amounted to 233 at the end of the year. Administratively, the FIN-FSA operates in connection with the Bank of Finland, but in its supervisory work, it takes its decisions independently.
The FIN-FSA seeks to ensure that
- the operations of its supervised entities are on a sound footing and supervised entities hold sufficient capital resources to cover the risks and losses arising from their operations and are able to meet their commitments
- the information provided to customers and investors on products, services, service providers and issuers is of high quality
- financial market practices are appropriate
- payment systems are secure.
For more information, see finanssivalvonta.fi/en/ > FIN-FSA > About FIN-FSA
The account monitors communications by the EU’s financial supervisory authorities and tweets among other things on public presentations by the FIN-FSA staff, vacancies and themes relating to the protection of banking and insurance customers.
The most popular tweets concerned the following topics:
Financial Supervisory Authority permits temporary exemptions for implementation of strong customer authentication in online card payment
Virtual currency providers to be supervised by the FIN-FSA – briefing for virtual currency providers on 15 May