Notifications

Supervision releases
7 May 2015 - 18/2015
5 June 2015 - 24/2015

Regulation (EU) 1163/2014 of The European Central Bank (ECB/2014/41) and Decision (EU) 2015/530 (ECB/2015/7)

Collection of supervisory fee data by the European Central Bank COF

Annually

On 1 July at the latest

Act on Credit Institutions

1. Decision-making of the general meeting concerning a high maximum share of variable remuneration - Chapter 8 Section 8

Without delay

kirjaamo(at)finanssivalvonta.fi

see above

2. Data collection regarding high earners - Chapter 8 Section 16

30 June

kirjaamo(at)finanssivalvonta.fi

see above

30 June

kirjaamo(at)finanssivalvonta.fi

15/2021 

Act on Credit Institutions chapter 7 paragraph 4

Act on the Supervision of Financial and Insurance Conglomerates Chapter 2 Section 14

Reporting of information on fitness and propriety

LSI supervised entities:
Link to the FIN-FSA electronic service(in Finnish)

SI supervised entities:
Fit & Proper Form (word)

Without delay after the appointment or a change in the person’s responsibilities, and no later than two weeks from the appointment decision or from the date at which the person takes up the new position

8/2014

Management of operational risk in supervised entities of the financial sector

• section 9.1

Reporting of disruptions and faults in operations

Error report form (excel)

Without delay

hairio(at)finanssivalvonta.fi

From February 1st 2023 onwards via Financial Supervisory Authority e-services (detailed information). FIN-FSA e-services log-in page.

• see above

Major payment service incident report 

Major incident report form (excel)

According to deadlines in EBA Guidelines (EBA/GL/2021/03)

hairio(at)finanssivalvonta.fi

From February 1st 2023 onwards via Financial Supervisory Authority e-services (detailed information). FIN-FSA e-services log-in page.

• section 9.2

Annual report on losses from operational risk

Damage report form (word)

opriskivahinko(at)finanssivalvonta.fi

5/2019 section 13.4

Regulations and Guidelines related to the Capital Requirements Regulation

Form available only in Finnish: Suurten asiakasriskien ylitysraportointiin tarkoitettu ylitysilmoituslomake (excel)

Without delay

kirjaamo(at)finanssivalvonta.fi

Reporting of real estate held by credit institutions and their consolidation groups

The related forms are available on the FIN-FSA's website

On 1 April at the latest

kirjaamo(at)finanssivalvonta.fi

Government Decree 208/2014
Act on Credit Institutions (610/2014) chapter 3 section 1 
Act on the Supervision of Financial and Insurance Conglomerates (699/2004) section 11

Acquisition and disposal of shares and participations in credit institutions 

Change in holding / Notification form for natural persons

Change in holding / Notification form for legal persons

Change in holding / Notification form for target company

kirjaamo(at)finanssivalvonta.fi

Assessment of acquisitions and increases of qualifying holding

kirjaamo(at)finanssivalvonta.fi

Regulation (EU) 2017/847 on information accompanying transfers of funds

5/2018 Information on the payer and the payee that has to accompany a transfer of funds

Notification regarding failure to provide required information on payer or payee and the steps taken

The related form is available on the FIN-FSA's website 

Without delay and

and no later than three months after identifying the repeated failing by the (intermediary) payment service provider.

maksuntiedot(at)fiva.fi

kirjaamo(at)finanssivalvonta.fi

Quarterly
31 March, 30 June, 30 September, 31 December

15 May, 15 August, 15 November, 28/29 February  

kirjaamo(at)finanssivalvonta.fi

In advance, before acquisition of controlling interest

kirjaamo(at)finanssivalvonta.fi

In advance

kirjaamo(at)finanssivalvonta.fi

Submission of financial statements

• Copy of financial statements and consolidated financial statements, and of the management report
• Copy of audit report
• Copy of the minutes of the annual general meeting or of the corresponding body that dealt with the financial statements

Annually

Within two weeks from the approval of the financial statements

kirjaamo(at)finanssivalvonta.fi

Financial report

(company’s half-yearly report and 3-month or 9-month information published regularly on the company’s financial result and financial position)

By each specific period

kirjaamo(at)finanssivalvonta.fi

Reports of auditors to the supervised entity, its holding company or subsidiary

Within two weeks from the submission of the report to the supervised entity

A credit institution may
not start operations
before it has submitted
the following
documentation to FIN-FSA:

1. a complete extract from the trade register, including the articles of association or by-laws of the credit institution
2. the names of the members and deputy members of the Supervisory Board and Board of Directors, the chief executive officer and his or her deputy, the auditors and deputy auditors, as well as any other pertinent information on them.

In case of a change in the information as referred to in subsection 2, any new information must be submitted to FIN-FSA without delay. 

8/2014 section 9.3

Annual assessment of operational and security risks of payment services (free-form risk assessment)

Annually by 28 February.

First assessment by 28 February 2019.

operatiivinenriski(a)finanssivalvonta.fi

Standard 1.5 section 6

Act on the Supervision of Financial and Insurance Conglomerates chapter 2 section 9

Recognition of a financial and insurance conglomerate and its holding company

Without delay, after the company has received notice that it is part of a conglomerate

kirjaamo(at)finanssivalvonta.fi

Information on the structure of a financial and insurance conglomerate as well as verification and reconciliation calculations and details of capital adequacy calculations

Annually, on the situation as at 31 December 

Annually by 28 February

FivaRava-vakavaraisuusraportit(at)fiva.fi

Reporting of fitness and propriety information to the FIN-FSA

Form available In Finnish (word)

Reporting of disruptions and faults in operations

Error report form (excel)

Major payment service incident report

Major incident report form (excel)

Annual report on losses from operational risk

Damage report form (word)

Acquisition of controlling interest in undertakings authorised in a non-EEA country

Notification instructions: standard RA1.2

Notification of outsourcing of significant activities

Notification instructions: 1/2012 Outsourcing in supervised entities belonging to the financial sector

Notification of the use of an agent in the provision of payment services

Notification instructions: 1/2012 Outsourcing in supervised entities belonging to the financial sector

Notification of ownership changes

Change in holding / Notification form natural persons 

Change in holding / Notification form for legal persons

Change in holding / Notification form for target company

Annual assessment of operational and security risks of payment services (free-form risk assessment)

Annually by 28 February.

Via FIN-FSA secured email to e-mail address operatiivinenriski(at)finanssivalvonta.fi

Reporting of fitness and propriety information to the FIN-FSA

Form available In Finnish (word)

A report must made in connection with an authorisation application and when submitting a notification on providing payment services without an authorisation or on using an agent. When a new person is selected for a position mentioned above, a report must be submitted immediately after the appointment or change in responsibilities, no later than two weeks from the decision.

Reporting of disruptions and faults in operations

Error report form (excel)

Major payment service incident report

Major incident report form (excel)

Cessation of a service provider’s activities, significant changes in the scope of activities and changes in factors referred to in section 7 subsections 2-4 and section 7 a subsection 1 of the Act on Payment Institutions.

Annual assessment of operational and security risks of payment services (free-form risk assessment)

Annually by 28 February.

Via FIN-FSA secured email to e-mail address operatiivinenriski(at)finanssivalvonta.fi

Acquisition and disposal of shares and participations in credit institutions 

Change in holding / Notification form for natural persons

Change in holding / Notification form for legal persons

Change in holding / Notification form for target company

Assessment of acquisitions and increases of qualifying holding

Operational risk management in insurance sector supervised entities

Notification of operational disruptions and errors (disruption notification)
Form (excel) available only in Finnish and in Swedish

Annual report on losses caused by operational risk (loss notification)
Form (word) available only in Finnish and in Swedish

Via FIN-FSA secured email to e-mail address opriskivahinko(at)finanssivalvonta.fi

Insurance company/insurance holding company management - report of fitness and propriety 
Form (pdf) available only in Finnish and in Swedish

Submission to the Financial Supervisory Authority of supervision documents of entities operating in the insurance market

Information on financial statements of a Run-off company 

Form (excel) available only in Finnish and in Swedish

Failure to meet the solvency capital requirement

• Company’s financial restructuring plan
• Short-term financing plan

Submission to the Financial Supervisory Authority of supervision documents of entities operating in the insurance market

Under chapter 7, section 8, subsection 2 of the Investment Services Act (747/2012), the provisions of chapter 8 of the Credit Institutions Act are also applicable to investment firms.

1. Decision-making of the general meeting concerning a high maximum share of variable remuneration - Chapter 8 Section 8

Without delay

15/2021

Investment Services Act chapter 6 b section 4

Reporting of information on fitness and propriety

Reports are submitted via FIN-FSA´s e-services (more information)
Link to the FIN-FSA electronic service(in Finnish)

Without delay after the appointment or a change in the person’s responsibilities, and no later than two weeks from the appointment decision or from the date at which the person takes up the new position

Management of operational risk in supervised entities of the financial sector

• section 9.1

Reporting of disruptions and faults in operations

Error report form (excel)

• section 9.2

Annual report on losses from operational risk

Damage report form (word)

On 28 February at the latest

Capital requirements calculation and large exposures

Form (excel) available in Finnish

Without delay

EU 2017/1946

Investment Services Act (747/2012) chapter 6a

Acquisition and disposal of shares and participations in investment firms 

• Notification form for natural persons (word)
• Notification form for legal persons (word)
• Notification form for target company (word)

Note! The form for target company must always be filled in

Forms for situations where reduced information requirements apply (Article 13, EU 2017/1946):

• Notification form for natural persons (word)
• Notification form for legal persons (word)
• Notification form for target company (word)

In advance

kirjaamo(at)finanssivalvonta.fi

Tied agent notification

See Register of tied agents

New notification or declaration of changes is submitted to the address sipa-ilmoitukset(at)fiva.fi or by post to the Registry of the Financial Supervisory Authority

Notification form (pdf) available in Finnish or in Swedish

NB! The PDF form works with Windows devices. Another option is to create an xml file and to send the file to the above address.

Reporting of tied agent notification in machine-readable form (xsd)

Immediately

3/2014

Authorisations, registrations and notifications

RA1.1 section 4

Reporting of intra-group transactions

Quarterly
31 March, 30 June, 30 September, 31 December

15 May, 15 August, 15 November, 28/29 February

RA1.2 section 4

Acquisition of controlling interest in undertakings authorised in non-EEA states

In advance, before acquisition of controlling interest

8/2014

Management of operational risk in supervised entities of the financial sector

EU 2017/565 (recital 44)

Outsourcing

In advance

2/2016

Submission of financial statements

• Copy of financial statements and consolidated financial statements, and of the management report
• Copy of audit report
• Copy of the minutes of the annual general meeting or of the corresponding body that dealt with the financial statements

Annually

Within two weeks from the approval of the financial statements

kirjaamo(at)finanssivalvonta.fi

Interim report

Within two months from the end of the interim period

see above

Auditing

Within two months from the end of the interim period

Management of supervised entity capital adequacy

Annually and always when changes take effect

Immediately when changes take effect

Notification of material changes to the conditions for granting authorisation

kirjaamo(at)finanssivalvonta.fi

Notification of the owners of the holdings referred to in subsections 1 and 2 and the size of the holdings as well as changes in holdings

Once a year/without delay

Sipa-ilmoitukset(at)finanssivalvonta.fi

Notification of intent to acquire control within the meaning of chapter 1, section 5 of the Accounting Act in a credit institution, an investment firm, a fund management company, an alternative fund manager or an insurance company whose registered office is in a third country

In advance

kirjaamo(at)finanssivalvonta.fi

Notification that an investment firm engages in algorithmic trading in Finland or in an EEA country

MiFIDilmoitukset@fiva.fi

Notification that an investment firm provides direct electronic market access to a trading venue

MiFIDilmoitukset@fiva.fi

An auditor’s report on whether arrangements for the custody and handling of the customer assets of an investment firm meet the provisions of chapter 9 of the Act on Investment Services as well as provisions adopted pursuant thereto

Once a year

Notification of the name and contact details of the body referred to in subsection 1 of 10:15

Notification that an investment firm intends to establish a branch in an EEA country other than Finland or intends to use a tied agent established in another EEA country in whose area it has not established a branch

In good time in advance

kirjaamo(at)finanssivalvonta.fi

Notification of changes to the information referred to in subsection 1

At the latest one month before the changes are due to be implemented

kirjaamo(at)finanssivalvonta.fi

Notification of how the receivables of investors that are customers of an investment firm’s branch abroad have been secured

Notification that an investment firm intends to commence providing investment services or practising investment activities and providing ancillary services in accordance with Annex I of the Markets in Financial Instruments Directive in an EEA country other than Finland without establishing a branch

In good time in advance

kirjaamo(at)finanssivalvonta.fi

Notification of changes to the information referred to in subsection 1

At the latest one month before the changes are due to be implemented

kirjaamo(at)finanssivalvonta.fi

Notification that an investment firm intends to offer a direct opportunity for an investment firm, credit institution or other person established in another EEA State to trade in a multilateral or organised trading facility

In good time in advance

kirjaamo(at)finanssivalvonta.fi

Notification of change to information referred to in subsection 4

At the latest one month before the change is due to be implemented

kirjaamo(at)finanssivalvonta.fi

Notification that an investment firm intends to commence providing investment services or practising investment activities and providing ancillary services in accordance with Annex I of the Markets in Financial Instruments Directive in a third country without establishing a branch

In good time in advance and when information has changed

kirjaamo(at)finanssivalvonta.fi

Reporting of information on fitness and propriety

Link to the FIN-FSA electronic service(in Finnish)

Management of operational risk in supervised entities of the financial sector

• section 9.1

Reporting of disruptions and faults in operations

Error report form (excel)

• section 9.2

Annual report on losses from operational risk

Damage report form (word)

On 28 February at the latest

Government Decree 208/2014

Act on Common Funds (213/2019) chapter 4 section 7

Acquisition and disposal of shares and participations in investment firms 

• Notification form for natural persons (word)
• Notification form for legal persons (word)
• Notification form for target company (word)

Note! The form for target company must always be filled in.

In advance
kirjaamo(at)finanssivalvonta.fi

Authorisations, registrations and notifications

kirjaamo(at)finanssivalvonta.fi

Outsourcing

In advance

kirjaamo(at)finanssivalvonta.fi

Submission of financial statements

• Copy of financial statements and consolidated financial statements, and of the management report
• Copy of audit report
• Copy of the minutes of the annual general meeting or of the corresponding body that dealt with the financial statements
• Financial statements of investment funds managed by the fund management company

Annually

Within two weeks from the approval of the financial statements

rahastoilmoitukset(at)finanssivalvonta.fi

Interim report

Within two months from the end of the interim period

rahastoilmoitukset(at)finanssivalvonta.fi

Auditing

Within two weeks from the submission of the report to the supervised entity

rahastoilmoitukset(at)finanssivalvonta.fi

Notification when an investment firm commences operations

rahastoilmoitukset(at)finanssivalvonta.fi

Act on Common Funds (213/2019) chapter 4 section 7.5

Government Decree on the Filing of a Notice Regarding the Acquisition and Disposal of Holdings in Credit Institutions, Investment Firms, Management Companies, Depositories, Special Depositaries, Insurance Companies, Holding Companies of Financial and Insurance Conglomerates and Alternative Investment Fund Managers

Notification, at least once a year, of names of owners of holdings and sizes of such holdings in a fund management company and its holding company as referred to in chapter 4 section 7 subsections 1 and 2 of the Act on Common Funds

Act on Common Funds (213/2019) chapter 24 section 1

Notification of establishing a branch for a fund management company authorized in another EEA state

Act on Common Funds (213/2019) chapter 8 section 7.2

Notification when a mutual fund commences operations

Act on Common Funds (213/2019) chapter 6 section 1.5

1/2012

Notification of outsourcing arrangements and significant changes in them.

Act on Common Funds (213/2019) chapter 8 section 8.2

Notification of reaching or exceeding, or falling below the limits specified in subsection 1 on minimum equity or number of unitholders in a mutual fund

Act on Common Funds (213/2019) chapter 2 section 10.1

Copy of transfer proposal and report as referred to in Article 8 (2) and (3) of the European company regulation, in the event that the management company intends to transfer its registered office to another Member State, as provided in Article 8 of the European company regulation

Act on Common Funds (213/2019) chapter 5 section 3.2

Notification of the equity of a management company falling below the minimum amount provided in chapter 3 section 1

Act on Common Funds (213/2019) chapter 21 section 10

Notification from a custodial institution that an order from a management company is not being observed, or other grounds for comments are observed in the operation of a management company, as referred to in Section 31.1, and the company refuses to cancel its decision or change its operating mode

Act on Common Funds (213/2019) chapter 21 section 11

Notification of custody agreement made by the investment fund and any changes to such agreement

Act on Common Funds (213/2019) chapter 7 section 5

2/2016

Annual report, semi-annual report and quarterly report of a mutual fund (only with respect to special mutual funds, Section 95) and copies of:

• Auditing documents of the management company and mutual fund
• Auditor’s report of the management company and mutual fund as well as documents concerning management of the management company and mutual fund
• Minutes of the company’s shareholders’ and unitholders’ meetings
• Audit report concerning the accuracy of the NAV calculation of a mutual fund unit

Notification of a decision to halt the redemption of mutual fund units

Notification of the types of derivatives contracts used in the investment operations of a mutual fund, related risks, methods used in assessing the risks of derivatives contracts and quantitative limits

Mutual fund prospect and any amendments thereof

Mistake in publication of the value of a mutual fund unit

Key Investor Information Document (KIID) and any changes to it

Notification of implementation of surrender of management of a mutual fund

Notification of implementation of a merger of mutual funds

Notification of implementation of a demerger of a mutual fund

Notification of a feeder fund or of a collective investment undertaking acting as such the funds of which are invested in a fund under its own management

Notification of a decision to terminate a mutual fund

Final settlement of a terminated mutual fund with annexes

Notification that the assets of a mutual fund have been divided and the mutual fund terminated

Notification of establishment of a branch in an EEA member state

Notification of changes to information specified in chapter 22 section 1.1

Notification of commencement of operations as referred to in chapter 2 section 2 in the area of another country without establishing a branch

Notification of change in information under chapter 22 section 4.1 of the Act on common funds

Notification of carrying out activities referred to in chapter 2 section 2.2 in a non-EEA country without establishing a branch, and related change of information

Notification when a fund management company or a foreign EEA fund management company intends to market in the EEA home country the units of a fund it manages in Finland.

Finnish fund management companies:
kirjaamo(at)finanssivalvonta.fi
EEA fund management companies:
Ucits.Notifications(at)finanssivalvonta.fi

Government Decree 208/2014

Act on Alternative Investment Funds Managers (AIFML) chapter 7 section 9

Obligation to notify acquisition and disposal of shares

• Notification form for natural persons (word)
• Notification form for legal persons (word)
• Notification form for target company (word)

Note! The form for target company must always be filled in

In advance

kirjaamo(at)finanssivalvonta.fi

Act on Alternative Investment Funds Managers (AIFML) chapter 6 section 5 (authorised AIFMs) and chapter 5 section 3 (registered AIFMs)

Reporting of information on fitness and propriety

Link to the FIN-FSA electronic service (in Finnish)

Without delay

Notification when the AIF manager fails to ensure that the AIF under its management or another entity acting on such AIF’s behalf conforms with the legal requirements referred to herein

Notification of significant changes to the prerequisites of the authorization specified in chapter 4, section 3
Notification of commencement of operations

Notification of commencement of operations

Notification by a registered AIFM concerning principal financial instruments it trades and details of principal exposures and most important risk concentrations of the AIFs it manages

Notification by a registered AIFM when it no longer fulfils the requirements specified in chapter 1, section 3

Immediately

kirjaamo(at)finanssivalvonta.fi

Notification by the AIFM concerning the self-regulatory organization it belongs to or the recommendations of which it follows

Notification, at least once a year, of names of owners of holdings and sizes of such holdings in a alternative investment fund management company and its holding company as referred to in chapter 7, section 9, paragraph 4 of the AIFM Act

Once a year

AIFM-ilmoitukset(at)finanssivalvonta.fi

Mistake in the determination of the value of a mutual fund unit

Notification of outsourcing arrangements concerning a significant function

Notification of the content of an outsourcing agreement and any significant changes to such contractual relationship

Without delay

kirjaamo(at)finanssivalvonta.fi

Notification of the AIF the units of which the AIFM intends to market in Finland

Prior to commencement of marketing, no later than one month prior to the anticipated change or immediately after an unanticipated change has taken effect

kirjaamo(at)finanssivalvonta.fi

Notification of a Key Investor Information Document (KIID)

Notification of a depositary agreement concerning an AIF managed by the AIFM and any changes to such agreement

Immediately

kirjaamo(at)finanssivalvonta.fi

Notification when the AIF acquires shares of an unlisted company, transfers them or holds them, and when the share of the unlisted company’s voting rights owned by the fund reaches, exceeds or falls below the threshold of 10%, 20%, 30%, 50% or 75%

Notification when the AIF acquires a controlling interest in an unlisted company

Notification of the funding of a qualifying holding

AIFMs authorized in Finland may manage AIFs established in another EEA state or provide in another EEA state asset management specified in chapter 3, section 2, subsection 2 and ancillary services specified in chapter 3 after submitting the relevant notification to FIN-FSA

Notification of changes to information specified in chapter 19, section 1

No later than one month prior to the anticipated change or immediately after an unanticipated change has taken effect

kirjaamo(at)finanssivalvonta.fi

Notification specified in chapter 12, section 1, that the authorized AIFM intends to market in Finland the units of an AIF under its management and established in another EEA state

Prior to commencement of marketing, no later than one month prior to the anticipated change or immediately after an unanticipated change has taken effect

kirjaamo(at)finanssivalvonta.fi

Notification of commencement and cessation of activities

Information on material changes in reporting institution’s financial situation and on other factors affecting the fulfilment of its obligations

Reporting of information on fitness and propriety

Fit & Proper form (word)

Notification of change in register information or notification of cessation of activities

Information on material changes in reporting institution’s financial situation and on other factors affecting the fulfilment of its obligations