Finnish Financial Supervisory Authority: Guarding Finland’s Financial Sector

The Finnish Financial Supervisory Authority (FIN-FSA), established on January 1, 2009, is the primary regulatory body overseeing the financial services sector in Finland. It emerged from the merger of the Financial Supervision Authority and the Insurance Supervisory Authority, and is headed by Director General Mr. Tero Kurenmaa.

Role and Significance

The FIN-FSA is situated in Helsinki, Finland, and, since 2014, has served as Finland’s national competent authority within European Banking Supervision, heightening its role and significance in the European financial regulatory landscape.

History

The origins of the Finnish Financial Supervisory Authority can be traced back to the Banking Supervision Office, the predecessor of the Financial Supervision Authority. The establishment of the Financial Supervision Authority marked a substantial shift towards a more integrated approach to financial regulation in Finland. (Finansinspektionen: Historik. Archived 2016-03-04 at the Wayback Machine)

Mission

Under the jurisdiction of the Bank of Finland, the FIN-FSA maintains a robust regulatory environment aimed at fostering a stable and efficient financial market in Finland. Its mission includes:

Protecting investors
Ensuring the stability of the financial system
Promoting financial literacy within the country

For more information on the Finnish Financial Supervisory Authority and its functions, please visit their official website.

References

“National supervisors,” ECB Banking Supervision. Accessed July 23, 2023.
Financial Supervisory Authority (Finland): History. Archived 2018-09-01 at the Wayback Machine