Investment Service Providers

ESMA Guidelines on standardised procedures and messaging protocols under Article 6(2) of Regulation (EU) No 909/2014 + –

ESMA Guidelines on standardised procedures and messaging protocols under Article 6(2) of Regulation (EU) No 909/2014

Scope of application:
• Investment firms

Information releases:
Regulations and guidelines 5/2022: FIN-FSA recommendation on compliance with ESMA Guidelines on standardised procedures and messaging protocols (in Finnish)

Contact information:
Jenni Koskinen, Senior Supervisor
tel. +358 9 183 5364, email: jenni.koskinen(at)finanssivalvonta.fi

ESMA Guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements + –

ESMA Guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on cross-selling practices + –

ESMA Guidelines on cross-selling practices

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on MiFID II product governance requirements + –

ESMA Guidelines on MiFID II product governance requirements

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines for the assessment of knowledge and competence + –

ESMA Guidelines for the assessment of knowledge and competence

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on complex debt instruments and structured deposits + –

ESMA Guidelines on complex debt instruments and structured deposits

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on certain aspects of the MiFID II suitability requirements + –

ESMA Guidelines on certain aspects of the MiFID II suitability requirements

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on certain aspects of the MIFID II remuneration requirements + –

ESMA Guidelines on certain aspects of the MIFID II remuneration requirements

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Branches of foreign EEA investment firms and EEA credit institutions, EEA fund management companies and EEA AIFMs providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on certain aspects of the MiFID II compliance function requirements + –

ESMA Guidelines on certain aspects of the MiFID II compliance function requirements

Scope of application:

Investment firms
Credit institutions, fund management companies and alternative investment fund managers (AIFMs) providing investment service or performing investment activities
Investment firms and credit institutions providing investment service or performing investment activities, which are authorised outside the EEA and provide investment service in Finland or perform investment activities through a branch

These guidelines are related to:
- FIN-FSA regulations and guidelines 7/2018

Contact information:

Riitta Seppä, Chief Supervisor
tel. +358 9 183 5027, email: riitta.seppa(at)finanssivalvonta.fi

ESMA Guidelines on the application of C6 and C7 of Annex I of MiFID II amending Guidelines on the application of the definitions in Sections C6 and C7 of Annex I of Directive 2004/39/EC (MiFID) + –

ESMA Guidelines on the application of C6 and C7 of Annex I of MiFID II amending Guidelines on the application of the definitions in Sections C6 and C7 of Annex I of Directive 2004/39/EC (MiFID )

Scope of application:

Authorised supervised entities and foreign supervised entities as referred to in the FIN-FSA Act (878/2008)

Investment firms and branches of third-country firms as referred to in the Investment Services Act (747/2012)
Firms comparable to an investment firm referred to in the Act on Investment Services having a branch in Finland or intending to provide services to Finland without establishing a branch

Information releases:
Regulations and guidelines 7/2019 on the application of C6 and C7 of Annex 1 of MiFID II (in Finnish)

Contact information:

Jyrki Manninen, Chief Legal Counsel
tel. +358 9 183 5205, email: jyrki.manninen(at)finanssivalvonta.fi

ESMA Guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure + –

ESMA Guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure

Scope of application:

The Guidelines apply to competent authorities as defined in Article 2(21) of Regulation (EU) 2022/858 and to applicants for specific permissions to operate DLT market infrastructures as defined in Article 2(5) of Regulation (EU) 2022/858

Information releases:

No supervision release issued

Contact information:

Jukka Laitinen, Chief Legal Counsel
tel. +358 9 183 5287, email: jukka.laitinen(at)finanssivalvonta.fi

Elina Pesonen, Senior Supervisor
tel. +358 9 183 5474, email: elina.pesonen(at)finanssivalvonta.fi

ESMA Guidelines on transaction reporting, order record keeping and clock synchronization under MiFID II + –

ESMA Guidelines on transaction reporting, order record keeping and clock synchronization under MiFID II

Scope of application:
• Stock exchange referred to in chapter 1, section 1(7) of the Act on Trading in Financial Instruments (1070/2017)

Operator of multilateral trading referred to in chapter 1, section 2(1)(12) of the Act on Trading in Financial Instruments
Operator of organised trading referred to in chapter 1, section 2(1)(12) of the Act on Trading in Financial Instruments
Systematic internaliser referred to in chapter 1, section 2(1)(16) of the Act on Trading in Financial Instruments
Approved reporting mechanism referred to in chapter 1, section 2(1)(23) of the Act on Trading in Financial Instruments
Credit institution referred to in chapter 1, section (1) of the Act on Credit Institutions (610/2014), which provides investment service or performs investment activities
Investment firm referred to in chapter 13, section 1(1) of the Act on Investment Services (747/2012)
Finnish branch of a third-country firm, as referred to in chapter 13, section 1(9) of the Act on Investment Services (747/2012)
Management company referred to in the Mutual Funds Act (213/2019), where it provides services referred to in chapter 2, section 2(2)(1) of said Act
Alternative investment fund manager referred to in the AIFM Act (162/2014), where it provides services referred to in chapter 3, section 2(2) or chapter 3, section 3(1)(3) of said Act.

Information releases:
Regulations and guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II enter into force on 3 January 2018 (in Finnish)

Change in the scope of application of regulations and guidelines 2/2018 (transaction reporting, order record keeping and clock synchronisation under MiFID II) (in Finnish)

Contact information:

Juho Westerlund, Senior Supervisor
tel. +358 9 183 5310, email: juho.westerlund(at)finanssivalvonta.fi

Jukka Katajamäki, Senior Supervisor
tel. +358 9 183 5026, email: jukka.katajamaki(at).finanssivalvonta.fi

Joint Guidelines for complaints handling for the securities (ESMA) and banking (EBA) sectors + –

Joint Guidelines for complaints handling for the securities (ESMA) and banking (EBA) sectors

Scope of application:

These guidelines apply to the following authorised supervised entities, supervised entities comparable to authorised supervised entities, other supervised entities and foreign supervised entities as referred to in sections 4, 5 and 6 of the FIN-FSA Act, with respect to activities pursued in Finland, and the following other financial participants:

Credit institutions
Intermediaries of consumer credit relating to residential property (Issued on 18 January 2018, valid from 1 May 2019) Investment firms
Management companies
Payment institutions
Alternative investment managers pursuing activities referred to in chapter 3, section 2(2) and section 3 of the AIFM Act (162/2014)
Finnish branches of foreign credit institutions and investment firms authorised in a non-EEA country
Foreign investment firms authorised in a non-EEA country and providing investment service without establishing a branch.

Information releases:

Guidelines for complaints-handling for the securities (ESMA) and banking (EBA) sectors | European Banking Authority (europa.eu)

Contact information:

Sanna Atrila, Chief Legal Advisor
Tel. 09 183 5552, email: sanna.atrila@finanssivalvonta.fi

Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and persons responsible for key functions(EBA/GL/2021/06, ESMA35-36-2319) + –

Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and persons responsible for key functions(EBA/GL/2021/06, ESMA35-36-2319)

Scope of application:

• Credit institutions
• Investment firms
• Central bodies of amalgamations of deposit banks
• Holding companies of credit institutions and investment firms
• Mixed financial holding companies, to the extent they are subject to the comparable statutory management fit and proper requirements as credit institutions
• Foreign credit institutions authorised in a non-EEA country and having a branch in Finland
• Foreign investment firms authorised in a non-EEA country and having a branch in Finland

Information releases:
- Regulations and guidelines 15/2021 Assessment of the suitability of members of the management body and key function holders

Contact information:

Credit institutions:

Anne Hakkila, Senior legal advisor
tel. +358 9 183 5512, email: anne.hakkila(at)finanssivalvonta.fi

Investment firms:

Raija Railas, Senior Supervisor
tel. +358 9 831 5235, email: raija.railas(at)finanssivalvonta.fi

EBA guidelines on Stressed Value-At-Risk (Stressed VaR)(EBA/GL/2012/02) + –

EBA guidelines on Stressed Value-At-Risk (Stressed VaR)(EBA/GL/2012/02)

Scope of application

credit institutions
investment firms
central bodies of amalgamations of deposit banks
holding companies of credit institutions
holding companies of investment firms
These regulations and guidelines are applicable to the holding companies of credit institutions only on the basis of their consolidated situation

Related to these guidelines:

Regulations and Guidelines related to the Capital Requirements Regulation 5/2019

Guidelines on Stressed Value-At-Risk (Stressed VaR) | European Banking Authority (europa.eu)

Contact information

Tomi Halme, Chief Inspector
tel. +358 9 183 5233; e-mail: tomi.halme(at)finanssivalvonta.fi

EBA guidelines on Significant Credit Risk Transfer relating to Articles 243 and Article 244 of Regulation 575/2013 (EBA/GL/2014/05) + –

EBA guidelines on Significant Credit Risk Transfer relating to Articles 243 and Article 244 of Regulation 575/2013 (EBA/GL/2014/05)

Scope of application:

credit institutions
investment firms
central bodies of amalgamations of deposit banks
holding companies of credit institutions
holding companies of investment firms
These guidelines are applicable to the holding companies of credit institutions only on the basis of their consolidated situation

Related to these guidelines:

Regulations and Guidelines related to the Capital Requirements Regulation 5/2019

Guidelines on significant risk transfer (SRT) for securitisation transactions | European Banking Authority (europa.eu)

Contact information

Anna Myllymäki, Chief Specialist
tel. +358 9 183 5020, e-mail anna.myllymaki(at)finanssivalvonta.fi

EBA guidelines on the range of scenarios to be used in recovery plans (EBA/GL/2014/06) + –

EBA guidelines on the range of scenarios to be used in recovery plans (EBA/GL/2014/06)

Scope of application:

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 the range of scenarios to be used in recovery plans | European Banking Authority (europa.eu)

Contact information

Virva Walo, Chief Legal Advisor
tel. +358 9 183 5253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA guidelines on triggers for use of early intervention measures pursuant to Article 27(4) of Directive 2014/59/EU (EBA/GL/2015/03) + –

EBA guidelines on triggers for use of early intervention measures pursuant to Article 27(4) of Directive 2014/59/EU (EBA/GL/2015/03)

Scope of application:

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 early intervention triggers | European Banking Authority (europa.eu)

Contact information

Virva Walo, Chief Legal Advisor
tel. +358 9 183 5253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA guidelines on the interpretation of the different circumstances when an institution shall be considered as failing or likely to fail under Article 32(6) of Directive 2014/59/EU (EBA/GL/2015/07) + –

EBA guidelines on the interpretation of the different circumstances when an institution shall be considered as failing or likely to fail under Article 32(6) of Directive 2014/59/EU (EBA/GL/2015/07)

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

EBA guidelines specifying the conditions for group financial support under Article 23 of Directive 2014/59/EU (EBA/GL/2015/17) + –

EBA guidelines specifying the conditions for group financial support under Article 23 of Directive 2014/59/EU (EBA/GL/2015/17)

Scope of application:

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 specifying the various conditions for the provision of group financial support | European Banking Authority (europa.eu)

Contact information

Virva Walo, Chief Legal Advisor
tel. +358 9 1835253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA Guidelines on implicit support for securitisation transactions (EBA/GL/2016/08) + –

EBA Guidelines on implicit support for securitisation transactions (EBA/GL/2016/08)

Scope of application:

credit institutions
investment firms
management companies
alternative investment fund managers
central bodies of amalgamations of deposit banks
holding companies of credit institutions
holding companies of investment firms
These guidelines are applicable to the holding companies of credit institutions only on the basis of their consolidated situation

Related to these guidelines:

Regulations and Guidelines related to the Capital Requirements Regulation 5/2019

Guidelines on implicit support for securitisation transactions | European Banking Authority (europa.eu)

Contact information

Anna Myllymäki, Chief Specialist
tel. +358 9 183 5020, e-mail anna.myllymaki(at)finanssivalvonta.fi

EBA guidelines on ICAAP and ILAAP information collected for SREP purposes (EBA/GL/2016/10) + –

EBA guidelines on ICAAP and ILAAP information collected for SREP purposes (EBA/GL/2016/10)

Scope of application:

1) credit institutions

2) central bodies of amalgamations of deposit banks, as referred to in the Act on the Amalgamation of Deposit Banks

3) holding companies of credit institutions and investment firms

4) holding companies of conglomerates as referred to in the Act on the Supervision of Financial and Insurance Conglomerates.

Solely in respect of ICAAP, the guidelines apply to the institutions below as referred to in Act on the Financial Supervisory Authority (878/2008):

1) investment firms

Additional guidelines:

The FIN-FSA will inform the supervised entities individually of the reporting frequency and the reporting deadline.

Related to these guidelines:

Guidelines on ICAAP and ILAAP information | European Banking Authority (europa.eu)

Contact information

ICAAP:

Sami Ilvonsalo, Chief Banking Supervisor
tel. +358 9 183 5028, e-mail: sami.ilvonsalo(at)finanssivalvonta.fi

ILAAP:

Marjo Risku, Chief Specialist
tel. +358 9 183 5275, e-mail: marjo.risku(at)finanssivalvonta.fi

EBA guidelines on connected clients under Article 4(1)(39) of Regulation (EU) No 575/2013 (EBA/GL/2017/15) + –

EBA guidelines on connected clients under Article 4(1)(39) of Regulation (EU) No 575/2013 (EBA/GL/2017/15)

Scope of application:

credit institutions
investment firms
central bodies of amalgamations of deposit banks
holding companies of credit institutions
holding companies of investment firms
parent companies of financial and insurance conglomerates
These guidelines are applicable to the holding companies of credit institutions only on the basis of their consolidated situation

Related to these guidelines:

Management of credit risk and assessment of creditworthiness by supervised entities in the financial sector, regulations and guidelines 4/2018

Regulations and Guidelines related to the Capital Requirements Regulation 5/2019

Guidelines on Connected Clients | European Banking Authority (europa.eu)

Contact information

Torsten Groschup, Chief Specialist
tel. +358 9 183 5333, e-mail: torsten.groschup(at)finanssivalvonta.fi

EBA Guidelines on outsourcing arrangements (EBA/GL/2019/02) + –

EBA Guidelines on outsourcing arrangements (EBA/GL/2019/02)

Scope of application:

credit institutions
management companies
the stock exchange
branches in Finland of foreign credit institutions authorised in non-EEA countries (branch offices of third-country credit institutions)
payment institutions

Related to these guidelines:

Outsourcing in supervised entities belonging to the financial sector, regulations and guidelines 1/2012

Guidelines on outsourcing arrangements | European Banking Authority (europa.eu)

Contact information

Pasi Korhonen, Chief Specialist
tel. +358 9 183 5514, e-mail: pasi.korhonen(at)finanssivalvonta.fi

EBA Guidelines on ICT and security risk management (EBA/GL/2019/04) + –

EBA Guidelines on ICT and security risk management (EBA/GL/2019/04)

Scope of application:

credit institutions
payment institutions
investment firms
management companies
alternative investment fund managers
Finnish branches of foreign credit institutions
Finnish branches of foreign payment institutions
Finnish branches of foreign investment firms
Finnish Central Securities Depository (APK)

Related to these guidelines:

Management of operational risk in supervised entities of the financial sector, regulations and guidelines 8/2014

Guidelines on ICT and security risk management | European Banking Authority (europa.eu)

Contact information

Pasi Korhonen, Chief Specialist
tel. +358 9 183 5514, e-mail: pasi.korhonen(at)finanssivalvonta.fi

EBA guidelines on criteria for the use of data inputs in the risk-measurement model referred to in Article 325bc of Regulation (EU) No 575/2013 (Capital Requirements Regulation) (EBA/GL/2021/07) + –

EBA guidelines on criteria for the use of data inputs in the risk-measurement model referred to in Article 325bc of Regulation (EU) No 575/2013 (Capital Requirements Regulation) (EBA/GL/2021/07)

Scope of application:

credit institutions
investment firms
central bodies of amalgamations of deposit banks
holding companies of credit institutions
holding companies of investment firms
parent companies of financial and insurance conglomerates
These guidelines are applicable to the holding companies of credit institutions only on the basis of their consolidated situation

Related to these guidelines:

Contact information

Tomi Halme, Chief Inspector
tel. +358 91835233, e-mail: tomi.halme(at)finanssivalvonta.fi

EBA guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate EU parent undertakings under Article 21b of Directive 2013/36/EU (EBA/GL/2021/08) + –

EBA guidelines on the monitoring of the threshold and other procedural aspects on the establishment of intermediate EU parent undertakings under Article 21b of Directive 2013/36/EU (EBA/GL/2021/08)

Scope of application:

1) credit institutions

2) investment firms

3) foreign credit institutions authorised in a non-EEA country and having a branch in Finland

4) foreign investment firms authorised in a non-EEA country and having a branch in Finland

Related to these guidelines:

Guidelines on the monitoring of the threshold for establishing an intermediate EU parent undertaking | European Banking Authority (europa.eu)

Contact information

Anne Hakkila, Senior Legal Advisor
tel. +358 9 183 5512, e-mail: anne.hakkila(at)finanssivalvonta.fi

EBA guidelines on recovery plan indicators under Article 9 of Directive 2014/59/EU (EBA/GL/2021/11) + –

EBA guidelines on recovery plan indicators under Article 9 of Directive 2014/59/EU (EBA/GL/2021/11)

Scope of application:

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 recovery plans indicators | European Banking Authority (europa.eu)

Contact information

Virva Walo, Chief Legal Advisor
tel. +358 9 1835253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA guidelines on sound remuneration policies under Directive (EU) 2019/2034 (EBA/GL/2021/13) + –

EBA guidelines on sound remuneration policies under Directive (EU) 2019/2034 (EBA/GL/2021/13)

Scope of application:

Investment firms not meeting all the conditions to qualify as small and non-interconnected investment firms under Article 12(1) of the EU Regulation on the prudential requirements of investment firms (EU 2019/2033, IFR), their EU parents, as well as holding companies and other firms within the group of consolidation as referred to in chapter 1, section 20 of the Act on Investment Services (2012/747)

Related to these guidelines:

Guidelines on remuneration policies for investment firms | European Banking Authority (europa.eu)

Contact information

Antti Alakiuttu, Specialist
tel. +358 9 1835456, e-mail: antti.alakiuttu(at)finanssivalvonta.fi

EBA guidelines on internal governance under Directive (EU) 2019/2034 (EBA/GL/2021/14) + –

EBA guidelines on internal governance under Directive (EU) 2019/2034 (EBA/GL/2021/14)

Scope of application:

Investment firms not meeting all the conditions to qualify as small and non-interconnected investment firms under Article 12(1) of the EU Regulation on the prudential requirements of investment firms (EU 2019/2033, IFR), their EU parents, as well as holding companies and other firms within the group of consolidation as referred to in chapter 1, section 20 of the Act on Investment Services (2012/747)

Related to these guidelines:

Guidelines on internal governance for investment firms | European Banking Authority (europa.eu)

Contact information

Antti Alakiuttu, Senior Specialist
tel. +358 9 183 5456, e-mail: antti.alakiuttu(at)finanssivalvonta.fi

EBA guidelines on the data collection exercises regarding high earners under Directive 2013/36/EU and under Directive (EU) 2019/2034 (EBA/GL/2022/08) + –

EBA guidelines on the data collection exercises regarding high earners under Directive 2013/36/EU and under Directive (EU) 2019/2034 (EBA/GL/2022/08)

Scope of application:

1) credit institutions

2) central bodies of amalgamations of deposit banks, as referred to in the Act on the Amalgamation of Deposit Banks

3) holding companies of credit institutions

4) Investment firms not meeting all the conditions to qualify as small and non-interconnected investment firms under Article 12(1) of the EU Regulation on the prudential requirements of investment firms (EU 2019/2033, IFR), their parent companies as well as holding companies as referred in chapter 1, section 20 of Act on Investment Services (747/2012)

5) holding companies of conglomerates as referred to in the Act on the Supervision of Financial and Insurance Conglomerates.

6) foreign credit institutions authorised in a non-EEA country and having a branch in Finland

7) foreign investment firms authorised in a non-EEA country and having a branch in Finland

Related to these guidelines:

Guidelines on the high earner data collection exercises under CRD and IFD (updated) | European Banking Authority (europa.eu)

Contact information

Erika Penttilä, Chief Specialist, tel. +358 9 1835270, e-mail: erika.penttila(at)finanssivalvonta.fi

Antti Alakiuttu, Risk Specialist, puhelin 09 183 545, antti.alakiuttu(at)finanssivalvonta.fi

Publications:

Määräykset ja ohjeet 8/2022 Finanssivalvonnan suositus EBAn suurituloisia koskevaa tietojen keruuta koskevien ohjeiden noudattamisesta (EBA/GL/2022/08) (Only in Finnish and Swedish)

EBA guidelines on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033 (EBA/GL/2022/10) + –

EBA guidelines on the criteria for the exemption of investment firms from liquidity requirements in accordance with Article 43(4) of Regulation (EU) 2019/2033 (EBA/GL/2022/10)

Scope of application:

Investment firms meeting the criteria of Article 12(1) of the EU IFR (EU 2019/2033) for a small and non‐interconnected investment firm

Related to these guidelines:

Guidelines on liquidity requirements exemption for investment firms | European Banking Authority (europa.eu)

Contact information

Antti Alakiuttu, Senior Specialist
tel. +358 9 1835456, e-mail: antti.alakiuttu(at)finanssivalvonta.fi

EBA recommendation on the development of recovery plans (EBA/REC/2013/02) + –

EBA recommendation on the development of recovery plans (EBA/REC/2013/02)

Scope of application:

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:

Recommendation on the development of recovery plans | European Banking Authority (europa.eu)

Contact information:

Virva Walo, Chief Legal Advisor
tel. +358 9 1835253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA recommendation on the use of the Legal Entity Identifier (LEI) (EBA/REC/2014/01) + –

EBA recommendation on the use of the Legal Entity Identifier (LEI) (EBA/REC/2014/01)

Scope of application:

1) credit institutions

2) investment firms

3) management companies

4) alternative investment fund managers

5) Finnish parent companies of consolidation groups of credit institutions and investment firms

6) central bodies of amalgamations of deposit banks

7) Finnish holding companies of financial and insurance conglomerates, or credit institutions acting as a parent company

8) parent companies of sub consolidation group, if said group includes subsidiaries that are authorized to provide credit or investment services in Finland

Related to these guidelines:

Recommendation on the use of Legal Entity Identifier (LEI) | European Banking Authority (europa.eu)

Contact information:

Kirsti Svinhufvud, Senior Specialist
tel. +358 9 183 5251, e-mail: kirsti.svinhufvud(at)finanssivalvonta.fi

EBA recommendation on the coverage of entities in a group recovery plan (EBA/REC/2017/02) + –

EBA recommendation on the coverage of entities in a group recovery plan (EBA/REC/2017/02)

Scope of application:

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:

Recommendations on the coverage of entities in a group recovery plan | European Banking Authority (europa.eu)

Contact information:

Virva Walo, Chief Legal Advisor
tel. +358 9 1835253, e-mail: virva.walo(at)finanssivalvonta.fi

EBA guidelines on policies and controls for the effective management of money laundering and terrorist financing (ML/TF) risks when providing access to financial services (EBA/GL/2023/04) + –

EBA guidelines on policies and controls for the effective management of money laundering and terrorist financing (ML/TF) risks when providing access to financial services (EBA/GL/2023/04)

Effective from 3.11.2023

Scope of application:

These Guidelines are applicable to the following obliged entities as referred to in chapter 1, section 2 of the Act on Preventing Money Laundering and Terrorist Financing (444/2017) (hereinafter the AML Act):

1) credit institutions and branches of third country credit institutions as referred to in the Credit Institutions Act (1055/2016)

2) financial institutions belonging to the same consolidation group with a credit institution as referred to in the Credit Institutions Act

3) insurance companies and special purpose vehicles as referred to in the Insurance Companies Act (521/2008) when pursuing activities falling within the life insurance classes referred to in the Act on Insurance Classes (526/2008)

4) branches of third country insurance companies as referred to in the Act on Foreign Insurance Companies (398/1995) when pursuing activities falling within the life insurance classes referred to in the Act on Insurance Classes (526/2008)

5) fund management companies as referred to in the Act on Common Funds (213/2019) and depositories authorised under the said Act

6) investment firms and branches of third country firms as referred to in the Investment Services Act (747/2012)

7) branches of a foreign EEA investment firm as referred to in the Investment Services Act

8) a central securities depository as referred to in the Act on the Book-Entry System and Settlement Activities (348/2017), including a registration fund and settlement fund established by such

9) account operators as referred to in the Act on the Book-Entry System and Clearing Operations and foreign corporations’ Finnish offices which have been granted the rights of an account operator

10) payment institutions as referred to in the Payment Institutions Act (297/2010)

11) natural and legal persons as referred to in sections 7, 7 a and 7 b of the Act on Payment Institutions

12) foreign payment institutions as referred to in the Act on the Operation of Foreign Payment Institutions in Finland (298/2010), when providing payment services in Finland through a branch or an agent

13) alternative investment fund managers with authorisation as an alternative investment fund manager under the Act on Alternative Investment Fund Managers (162/2014), and depositories authorised under said Act

14) branches of foreign alternative investment funds as referred to in the Act on Alternative Investment Fund Managers as well as alternative investment fund managers under the registration obligation referred to in said Act and Finnish branches of foreign depositories

15) insurance intermediaries as referred to in the Insurance Distribution Act (234/2018) and Finnish branches of foreign insurance intermediaries insofar as insurance policies falling within the life insurance classes referred to in the Act on Insurance Classes (526/2008) are concerned

16) Finnish credit intermediaries as referred to in the Act on Intermediaries of Consumer Credit Relating to Residential Property (852/2016) and Finnish branches of foreign credit intermediaries.

The FIN-FSA’s further guidance:

For the purposes of paragraph 19 of these Guidelines, it shall be taken into account that, in accordance with chapter 3, section 3(3) of the AML Act, where the customer is a foreigner who does not have a Finnish personal identity code, the data of the customer's travel document shall be retained in addition to the information referred to in chapter 3, section 3(2) of the AML Act.

Related to these guidelines:

Publications

EBA Guidelines on effective management of ML/TF risks when providing access to financial services – applicable as of 3 November 2023

Contact information

Jonna Ekström, Chief Legal Counsel
tel. +358 9 183 5531 , e-mail: jonna.ekstrom(at)finanssivalvonta.fi or aml-authorities(at)fiva.fi

EBA guidelines on the use of Remote Customer Onboarding Solutions under Article 13(1) of Directive (EU) 2015/849 (EBA/GL/2022/15) + –

EBA guidelines on the use of Remote Customer Onboarding Solutions under Article 13(1) of Directive (EU) 2015/849 (EBA/GL/2022/15)

Scope of application:

1) credit institutions and branches of third country credit institutions as referred to in the Credit Institutions Act (610/2014)