Supervision release 8 January 2025 – 6/2025

Amendments to FIN-FSA regulations and guidelines 4/2023

The FIN-FSA has updated regulations and guidelines 4/2023 on customer due diligence related to compliance with sanctions regulation and national freezing orders. The amendments are of a technical nature and will enter into force on 9 January 2025.

The Instant Payments Regulation1 enters into force on 9 January 2025. Therefore, amendments of a technical nature have been made to FIN-FSA regulations and guidelines 4/2023. The amendments concern FIN-FSA supervised entities that provide instant payments.

In addition, the scope of application in chapter 1.1 of regulations and guidelines 4/2023 was extended to crypto-asset service providers referred to in Article 3(1)(15) of the EU Markets in Crypto-Assets Regulation2. 

Furthermore, the following entities were removed from the scope of application in chapter 1.1:

  • Eentities as referred to in section 4, subsection 2 of the FIN-FSA Act which have been granted authorisation under Article 28 of Regulation (EU) 2017/2402 of the European Parliament and of the Council 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 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 referred to in paragraph 13; holding companies referred to in paragraph 14; and approved public arrangements as well as approved reporting mechanism referred to in paragraph 15.

The amendment is based on amendments to the AML Act (26 June 2024/414).

Amendments to the regulations and guidelines:

  • Chapter 1.1, scope of application updated.
  • Chapter 2.1, list of national regulations updated.
  • Chapter 6.1, paragraph 8 amended.
  • Chapter 7.3, new paragraph 3 added the number of the chapter adjusted correspondingly.
  • New chapter 7.2.1 and new paragraph 26 added.
  • Chapter 7.3, new paragraph 32 added.
  • New chapter 7.3.1 and new paragraph 41 added.

Entry into force of the to the regulations and guidelines

The regulations and guidelines enter into force on 9 January 2025.

For further information, please contact

Anssi Leisio, Chief Specialist, telephone +358 9 183 5524 or anssi.leisio(at)fiva.fi

Appendix

Regulations and guidelines 4/2023: Customer due diligence related to compliance with sanctions regulation and national freezing orders

 

  • 1Regulation (EU) 2024/886 of the European Parliament and of the Council amending Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366 as regards instant credit transfers in euro.
  • 2Regulation (EU) No 2023/1114 of the European Parliament and of the Council on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937.