Issuers and Investors

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ESMA Guidelines on disclosure requirements under the Prospectus Regulation + –

ESMA Guidelines on disclosure requirements under the Prospectus Regulation

Scope of application:

The Guidelines apply to issuers of securities and other natural or legal persons preparing a prospectus under the Prospectus Regulation, as referred to in chapter 3, section 1 of the Securities Markets Act (746/2012), where the authority approving the prospectus is the FIN-FSA as determined in accordance with point (m) of Article 2 of Regulation (EU) 2017/1129 of the European Parliament and of the Council (Prospectus Regulation).

These guidelines are related to:
- FIN-FSA regulations and guidelines 6/2013: Securities offerings and listings (amendments to the Securities Markets Act not updated since 31 December 2018)

Information releases:
Amendment to regulations and guidelines 9/2019 on presentation of information in a prospectus under the Prospectus Regulation

Contact information:

Anna Sahrakorpi, Legal Advisor
tel. +358 9 183 5458, email: anna.sahrakorpi(at)finanssivalvonta.fi

ESMA Guidelines on risk factors under the Prospectus Regulation + –

ESMA Guidelines on risk factors under the Prospectus Regulation

Scope of application:

These guidelines are related to:
- FIN-FSA regulations and guidelines 6/2013: Securities offerings and listings (amendments to the Securities Markets Act not updated since 31 December 2018)

Information releases:
Revision to regulations and guidelines 9/2019 on presentation of information in a prospectus under the Prospectus Regulation

Contact information:

Anna Sahrakorpi, Legal Advisor
tel. +358 9 183 5458, email: anna.sahrakorpi(at)finanssivalvonta.fi

ESMA Guidelines on Alternative Performance Measures + –

ESMA Guidelines on Alternative Performance Measures

Scope of application:

The Guideline applies to issuers of securities admitted to trading on a regulated market as well as issues or other persons liable to publish a prospectus referred to in chapter 3 of the Securities Markets Act.

These guidelines are related to:
- FIN-FSA regulations and guidelines 6/2016 on disclosure obligation
- FIN-FSA regulations and guidelines 6/2013: Securities offerings and listings L(amendments to the Securities Markets Act not updated since 31 December 2018)

Information releases:
Guidelines on delay in disclosure of inside information enter into force on 20.12.2016
Revisions in regulations and guidelines 6/2013 on securities offerings and listings

Contact information:

Minna Toiviainen, Senior Supervisor
tel. +358 9 183 5219, email: minna.toiviainen(at)finanssivalvonta.fi

ESMA Guidelines on MAR delay in the disclosure of inside information and interactions with prudential supervision + –

ESMA Guidelines on MAR delay in the disclosure of inside information and interactions with prudential supervision

Scope of application:

The Guidelines apply to issuers within the scope of application of Article 17 of the Market Abuse Regulation

These guidelines are related to:
- FIN-FSA regulations and guidelines 6/2016 on disclosure obligations

Information releases:
Amendments to Guidelines on the delay of disclosure of inside information enter into force on 13.6.2022 (in Finnish)
Guidelines on delay in disclosure of inside information enter into force on 20.12.2016

Contact information:

Pia Ovaska, Chief Legal Advisor
tel. +358 9 183 5296, email: pia.ovaska(at)finanssivalvonta.fi

ESMA Guidelines on MAR - Information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives + –

ESMA Guidelines on MAR - Information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives

Scope of application:

The Guidelines apply to the following market participants:

Natural or legal persons trading on the commodity derivatives markets or spot markets
Investment service providers referred to in chapter 2, section 10 of the Securities Markets Act (746/2012)
Operator of a regulated market referred to in chapter 2, section 5 of the Securities Markets Act and operator of multilateral trading referred to in chapter 2, section 9 of the Securities Markets Act
Persons professionally arranging or executing transactions in commodity derivatives as referred to in Article 3(1)(28) of the Market Abuse Regulation (EU) N:o 596/2014

Information releases:
Guidelines on the definition of inside information on commodity derivatives enter into force on 17 March 2017 (in Finnish)

Contact information:

Pia Ovaska, Chief Legal Advisor
tel. +358 9 183 5296, email: pia.ovaska(at)finanssivalvonta.fi

ESMA MAR Guidelines on persons receiving market soundings + –

ESMA MAR Guidelines on persons receiving market soundings

Scope of application:
The Guidelines apply to legal or natural persons receiving market soundings referred to in Article 11 of the Market Abuse Regulation (596/2014).

Information releases:
Guidelines on recipients of market soundings enter into force on 10 January 2017 (in Finnish)

Contact information:
Pia Ovaska, Chief Legal Advisor
tel. +358 9 183 5296, email: pia.ovaska(at)finanssivalvonta.fi

ESMA Guidelines on exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps + –

Soveltamisala:

Sijoituspalveluyritys, joka on markkinapaikan jäsen
Luottolaitos, joka on markkinapaikan jäsen
Kolmannen maan yhteisö, joka on Euroopan unionissa sijaitsevan markkinapaikan jäsen
Kolmannen maan yhteisö, joka on sellaisen kolmannen maan markkinapaikan jäsen, jonka lainsäädäntö- ja valvontakehyksen komissio on todennut Euroopan parlamentin ja neuvoston asetuksen (EU) N:o 236/2012) 17 artiklan 2 kohdan nojalla vastaavaksi.
Yritys, joka on markkinapaikan jäsen, ja jonka tarjoamat sijoituspalvelut ja/tai harjoittamat sijoitustoimet muodostuvat ainoastaan kaupankäynnistä omaan lukuun futuuri-, optio- tai muilla johdannaismarkkinoilla ja käteismarkkinoilla yksinomaan johdannaismarkkinoilla tehtyjen sijoitusten suojaamiseksi tai joka käy kauppaa näiden markkinoiden muiden markkinaosapuolten lukuun tai joka asettaa näiden markkinoiden osapuolille hinnat ja joka on näiden markkinoiden selvitysosapuolien takaama, kun kyseisten markkinoiden selvitysosapuolet ottavat vastuun tämän yrityksen tekemien sopimusten täyttämisen varmistamisesta.

Tiedotteet:

Yhteystiedot:

Pia Ovaska, johtava juristi
p. 09 183 5296, sähköposti: pia.ovaska(at)finanssivalvonta.fi

EBA guidelines on the STS criteria for non-ABCP securitisation (EBA/GL/2018/09) + –

EBA guidelines on the STS criteria for non-ABCP securitisation (EBA/GL/2018/09)

Scope of application:

These guidelines shall apply to the following authorised supervised entities and foreign supervised entities referred to in the Act on the Financial Supervisory Authority (878/2008) and acting as parties involved in securitisations as defined in Chapter 1, Article 2 of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012: