Finanssivalvonta: Shielding Finland’s Financial Sector with Balanced Supervision
Overview of Finanssivalvonta (FIN-FSA)
- Established to ensure the stability and integrity of Finland’s financial markets
- Oversees banks, insurance and pension companies, investment firms, fund management companies, and Helsinki Stock Exchange
- Team of about 230 experts, primarily funded by the entities it supervises
Location and Independence
- Located in Helsinki, Finland
- Administratively connected to the Bank of Finland
- Maintains independence in supervisory functions
Objectives and Priorities
According to the Act on the Financial Supervisory Authority, FIN-FSA’s objectives include:
- Enabling balanced operations for credit institutions, insurance and pension companies
- Fostering market stability
- Safeguarding the rights of the insured
- Promoting compliance with good practices
- Disseminating knowledge about financial markets
- Protecting public confidence
Role and Impact on Finland’s Financial Sector
FIN-FSA plays a crucial role in:
- Shielding Finland’s financial sector from potential risks
- Ensuring a thriving and sustainable industry
- Upholding integrity and transparency