Financial Supervisory Authority in brief
The Financial Supervisory Authority (FIN-FSA) is the authority for the supervision of Finland's financial and insurance sectors. Its supervised entities include banks, insurance companies and pension institutions, as well as others active in the insurance business, investment firms, fund management companies, and the stock exchange. 95% of our activities are funded by the supervised entities; the remaining 5% comes from the Bank of Finland.
Administratively, the FIN-FSA operates in connection with the Bank of Finland, but in its supervisory work, it takes its decisions independently. At the end of the review year, FIN-FSA’s personnel amounted to 236. Our office is located in Helsinki.
The objective of our activities is the stable operation of credit, insurance and pension institutions and other supervised entities required for the stability of the financial markets. A further objective is to safeguard the best interests of the insured and to maintain public confidence in the operation of the financial markets. In addition, we seek to foster compliance with good practices in the financial markets and public awareness of the financial markets. These objectives and tasks have been laid down in the Act on the Financial Supervisory Authority.
We work in the interests of the users of banking, insurance and investment services.
The account monitors communications by the EU’s financial supervisory authorities as well as tweets on, among other things, public presentations by FIN-FSA staff, job vacancies and themes relating to the protection of banking and insurance customers.
The top tweets were on the following topics:
FIN-FSA issues recommendation to supervised banks to refrain from dividend distributions – yesterday evening the ECB published a corresponding recommendation to banks under its direct supervision
In response to the coronavirus pandemic, the outlook for the global and the Finnish economy has weakened considerably. The Financial Supervisory Authority (FIN-FSA) is enhancing its monitoring of the financial sector, and has adopted measures in cooperation with European and Finnish authorities.