National reporting (Virati)
National Virati reporting is based on both the Anti-Money Laundering Act and regulations and guidelines issued by the Financial Supervisory Authority:
- Reporting of financial information 20/2013 (Available only in Finnish and Swedish)
- Risk reporting by credit institutions 1/2014
- Capital adequacy calculation of financial and insurance conglomerates 7/2015 (Available only in Finnish and Swedish)
- Reporting of mortgage bank operations 7/2012
- Anti-Money Laundering Act (444/2017) (Available only in Finnish and Swedish)
- Management of operational risk in supervised entities of the financial sector 8/2014
- Submission of electronic supervisory data of an entity operating in the insurance markets to the FIN-FSA 1/2011 (Available only in Finnish and Swedish)
- Payment institutions and persons providing payment service without authorisation 8/2016 (Available only in Finnish and Swedish)
- Regulations and guidelines applicable to unemployment funds 17/2013 (Available only in Finnish and Swedish)
The reporting obligations concerning data collections under national Virati reporting are described by type of reporting institution in the reporting maps for the financial sector and the insurance sector (available only in Finnish and Swedish).
Matters to consider in submitting a report
The FIN-FSA has developed a reporting application enabling reporting entities to generate the requisite encrypted CSV reporting files. The requisite reports can also be generated using the reporter's own methods in accordance with the description of electronic reporting for Virati. The reporting application is an aid for the use and installation of which the user is solely responsible. The FIN-FSA is not under an obligation to provide a reporting application, and therefore the fulfilment of the reporting obligation may not be dependent on the use of a voluntary tool.
The data collection application is available for downloading in the FIN-FSA's Jakelu distribution service. The downloadable Virati reporting package contains:
- Excel workbook (.xlsm)
- Encryption software (.exe)
- Excel macro (.xlam)
The reporting package (.zip) downloaded from the Jakelu distribution service must first be extracted, after which the Excel workbook, encryption software and Excel macro are saved in the same directory. Subsequently, the report is generated in the final submission file format using the workbook (.xlsx) and encrypted. The reports are submitted to the FIN-FSA as email attachments.
The user ID for the Jakelu distribution service is sent to the reporter before the first reporting date. The reporting package downloaded from the Jakelu distribution service is specific to the reporting entity (user ID and password). It may only be used to generate reports for the entity concerned. The FIN-FSA recommends that reporting entities always use the newest version of the reporting application, which ensures that they use an Excel workbook reflecting any amendments made. The Jakelu distribution service contains instructions for problem situations which may occur in reporting.
After submission, the report sender receives an email notification of receipt and subsequently an automatic feedback message indicating the status of the report (Approved or Rejected). There may be a delay in the feedback message depending on congestion in the reception system.
Description of electronic reporting
The FIN-FSA has published a description of electronic reporting for creating and submitting national reporting (virati) to the FIN-FSA. The description highlights the technical requirements for the reports.
Overview of the systems requirements of the data collection application
The workstation must have a Windows 10 operating system version under general support by Microsoft and a version of Excel 2013 or 2016. The reporting application and its workbooks may also function in other Windows and Excel versions. However, these are not covered by the support provided by the FIN-FSA.
The FIN-FSA recommends reporting entities to familiarise themselves with the operation of the reporting package well ahead of the reporting deadline. Any technical problems related to the installation or use of the reporting application should be primarily resolved within one's own organisation. However, if the problem cannot be resolved internally, the FIN-FSA requests that you report the problem as precisely as possible (for example, by attaching a screen shot to the description of the incident) by email to VIRATIHelpdesk(at)fiva.fi.