Financial Crime World

Finnish Financial Regulatory Bodies: Shaping Stable and Efficient Markets

Finland’s economic growth relies on the stable and efficient functioning of its financial markets. The Finnish Ministry of Finance is pivotal in ensuring this, regulating various aspects of the financial market sector.

The Mandate of the Finnish Ministry of Finance

The Finnish Ministry of Finance’s responsibilities in financial market regulation include:

  • Operation of financial and investment services companies: Credit institutions, investment services firms, and fund management companies.
  • Payment and settlement systems: Ensuring their transparency and efficiency.
  • Securities, derivatives, and crypto-asset trading: Monitoring and regulating these markets.
  • The book-entry system: Overseeing this system for trading securities.
  • Monitoring of financial markets: Ensuring the integrity and transparency of markets.
  • Prevention of money laundering: Implementing measures against money laundering and terrorist financing.
  • The sanctions system: Administering and enforcing financial sanctions.
  • Crisis resolution: Planning and implementing responses to financial crises.
  • Monetary and central banking system: Collaborating with the Bank of Finland.

EU Regulations and Finland’s Financial Markets

The European Union (EU) regulates Finland’s financial markets. The Ministry is responsible for enforcing these regulations while proactively influencing their creation and monitoring international developments. In recent years, the focus has been on forming a single market for capital within the EU.

Key Regulatory Bodies

Three key bodies are instrumental in implementing the Ministry’s financial market regulations:

  1. European Commission: The executive branch of the EU dealing with proposing legislation, managing the EU’s budget, and implementing EU policies.
  2. Financial Stability Board (FSB): An international body monitoring and addressing risks in the financial system.
  3. Financial Supervisory Authority (FSA): Responsible for supervising and enforcing financial laws in Finland.

Contact Information and Resources

For more information, visit:

Inquiries

For inquiries related to Finnish financial regulatory bodies, contact Anu Ranta, Director of Capital Markets at the Ministry of Finance.