Other Guidelines
ESMA Guidelines on outsourcing to cloud service providers
Scope of application:
These guidelines apply to the following supervised entities referred to in the FIN-FSA Act (878/2008):
- Investment firms
• Credit institutions where providing investment services
• Stock exchanges
• Authorised AIFMs
• Custodians for an AIFM
• Management companies
• Custodians for management companies
• Central counterparties
• Data reporting service providers
• Central securities depositories
• Administrators of critical benchmarks
Contact information:
Jukka Katajamäki, Senior Supervisor
tel. +358 9 183 5026, email: jukka.katajamaki(at).finanssivalvonta.fi
Scope of application:
The Guidelines apply to the following authorised supervised entities, other supervised entities and other financial market participants as referred to in the FIN-FSA Act (878/2008)
- Counterparties of security financing transaction defined in Article 3(2) of the Securities Financing Transactions Regulation
- Trade repositories defined in Article 3(1) of the Securities Financing Transactions Regulation.
Information releases:
Contact information:
Jyrki Manninen, Chief Legal Counsel
tel. +358 9 183 5205, email: jyrki.manninen(at)finanssivalvonta.fi
Jukka Katajamäki, Senior Supervisor
tel. +358 9 183 5026, email: jukka.katajamaki(at).finanssivalvonta.fi
ESMA Guidelines on internalised settlement reporting under Article 9 of CSDR
Scope of application:
The Guidelines apply to the following authorised supervised entities as referred to in the FIN-FSA Act (878/2008):
- Settlement internalisers defined in Article 2(1)(11) of the Central Securities Depository Regulation.
Information releases:
Regulations and guidelines 6/2019 on internalised settlement reporting under Article 9 of CSDR enter into force on 11 June 2019 (in Finnish)
Contact information:
Jenni Koskinen, Senior Supervisor
tel. +358 9 183 5364, email: jenni.koskinen(at)finanssivalvonta.fi
Scope of application:
- The Guidelines are addressed to supervisory authorities and crisis resolution authorities.
The FIN-FSA’s further guidance:
The Guidelines also apply to entities falling within the scope of application by virtue of Article 81 (1) of Directive 2014/59/EU and groupings of such entities if they consider themselves to be near failing or likely to fail. The Financial Supervisory Authority recommends that entities falling within the scope of application of the Guidelines and groupings consisting of such entities comply with the EBA Guidelines in terms of the sections referred to above and take the aforesaid into account in circumstances referred to above. However, the sections of the Guidelines referring to the conditions for resolution laid out in Article 32 (1) (b) and (c) of Directive 2014/59/EU are not applicable to institutions.a credit institution or a holding company and financial institution belonging to the same consolidation group in accordance with chapter 8a, sections 1 and 8 of the Credit Institutions Act (610/2014);
- an investment firm that trades in financial instruments on its own account or underwrites issues in accordance with the Act on Investment Firms (747/2012) or a holding company and financial institution belonging to the same consolidation group;
- an amalgamation of deposit banks in accordance with chapter 3, section 20 a of the Act on the amalgamation of deposit banks (599/2010).
Related to these guidelines:
Guidelines on failing or likely to fail | European Banking Authority (europa.eu)
Contact information
Virva Walo, Chief Legal Advisor
tel. +358 9 183 5253, e-mail: virva.walo(at)finanssivalvonta.fi
Scope of application:
- groups managed by a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company
- subsidiaries of a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company whose level of leverage ratio exposures exceeds EUR 200 billion at group level or individually, using an appropriate exchange rate taking into account the applicable foreign exchange rate published by the European Central Bank at the end of the financial year and international standards (‘relevant entities’).
Related to these guidelines:
Amending guidelines EBA/GL/2020/14
Amending guidelines EBA/GL/2022/12
Contact information
Peik Granlund, Chief Specialist
tel. +358 9 183 5236, e-mail: peik.granlund(at)finanssivalvonta.fi
Scope of application:
- The guidelines are addressed to competent authorities. In addition, they are addressed to crisis resolution authorities and other authorities and persons who, in the context of crisis resolution, must handle confidential information. Furthermore, the guidelines apply to financial institutions referred to in Article 4(1) of Regulation (EU) N:o 1093/2010
The FIN-FSA’s further guidance:
The FIN-FSA recommends that institutions, within the scope of application of the Guidelines and conglomerates consisting of such institutions, comply with the EBA Guidelines.
Related to these guidelines:
Contact information
Virva Walo, Chief Legal Advisor
tel. +358 9 183 5253, e-mail: virva.walo(at)finanssivalvonta.fi
Scope of application
- groups managed by a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company
- institutions that are not subsidiaries of a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company whose level of leverage ratio exposures exceeds EUR 200 billion at group level or individually, using an appropriate exchange rate taking into account the applicable foreign exchange rate published by the European Central Bank at the end of the financial year and international standards (‘relevant entities’).
Related to these guidelines
Amending guidelines EBA/GL/2022/12
Contact information
Peik Granlund, Chief Specialist
tel. +358 9 183 5236, e-mail peik.granlund(at)finanssivalvonta.fi
EBA guidelines on the limited network exclusion under PSD2 (EBA/GL/2022/02)
Scope of application:
services based on specific payment instruments that can be used only in a limited way, where exclusion from the scope as referred to in
- section 2, paragraph 3 of the Act on Payment Services (290/2010) ; or
- section 2, subsection 4 of the Act on Payment Institutions (297/2010)
is applied.
Related to these guidelines:
Guidelines on the limited network exclusion under PSD2 | European Banking Authority (europa.eu)
Contact information:
Tytti Tanninen, Supervisor
tel. +358 9 183 5510, e-mail: tytti.tanninen(at)finanssivalvonta.fi
Scope of application:
- groups managed by a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company
- institutions that are not subsidiaries of a EU parent institution, EU parent financial holding company or EU parent mixed financial holding company whose level of leverage ratio exposures exceeds EUR 200 billion at group level or individually, using an appropriate exchange rate taking into account the applicable foreign exchange rate published by the European Central Bank at the end of the financial year and international standards (‘relevant entities’).
Related to these guidelines:
Contact information
Peik Granlund, Chief Specialist, tel. +358 9 1835236, e-mail: peik.granlund(at)finanssivalvonta.fi
Guidelines on reporting under EMIR ESMA74-362-2281
Effective from April 29, 2024
Scope of application:
- Financial counterparties defined in Article 8 of EMIR
- Non-financial counterparties defined in Article 9 of EMIR
- Trade repositories defined in Article 2 of EMIR
- Competent authorities.
Announcements:
Contact information:
Jyrki Manninen, Chief Legal Advisor
Tel. 09 183 5205, email: jyrki.manninen(at)finanssivalvonta.fi
Juho Westerlund, Senior Supervisor
Tel. 09 183 5315, email: juho.westerlund(at)finanssivalvonta.fi
Guidelines on transfer of data between Trade Repositories under EMIR and SFTR ESMA74-362-2351
Effective from April 29, 2024
Scope of application:
- trade repositories
- reporting counterparties and the entities reporting on their behalf
- competent authorities
Announcements:
Contact information:
Jyrki Manninen, Chief Legal Advisor
Tel. 09 183 5205, email: jyrki.manninen(at)finanssivalvonta.fi
Juho Westerlund, Senior Supervisor
Tel. 09 183 5315, email: juho.westerlund(at)finanssivalvonta.fi