Reporting of intra-group transactions

Reporting of intra-group transactions

• valid from 17 May 2024 until further notice

Reporting of financial and insurance conglomerates’ intra-group transactions

Section 24 of the Act on the Supervision of Financial and Insurance Conglomerates (699/2004) provides on the supervision of mutual transactions between companies in a conglomerate. According to said provision, regulated entities belonging to a conglomerate shall report to the FIN-FSA their transactions where the other party is another company within the same conglomerate. The report shall be made at least on an annual basis, subject to the prerequisite that, unless the FIN-FSA has imposed another conglomerate-specific reporting threshold, the value of the transaction or the combined value of transactions carried out as part of the same transaction or transactions of the same class carried out during the year exceeds the requirements laid out in subsection 2 of said section. 

The reporting of financial and insurance conglomerates’ intra-group transactions is regulated by Commission Delegated Regulation (EU) 2015/2303 and Commission Implementing Regulation (EU) 2022/2454, which standardise the content and format of reporting required by Directive 2002/87/EC.

The starting point of the Delegated Regulation and the Implementing Regulation is that the coordinating supervisor, after hearing other relevant authorities, defines on a conglomerate-specific basis the kind of transactions which must be reported by regulated entities, the level of appropriate thresholds and the reporting and overview periods of significant intra-group transactions. Therefore, the FIN-FSA issues conglomerate-specific regulations on the abovementioned items to conglomerates for which it functions as the coordinating supervisor.