Financial Crime World

Finland’s Financial Regulatory Landscape: A Comprehensive Overview

Finland’s financial regulatory framework is designed to safeguard investors, consumers, and the market as a whole. This in-depth look will outline the key legislation driving the Finnish financial sector.

Securities Markets

  • The Securities Markets Act (746/2012): Supports securities markets and investor protection.
  • Unfair Business Practices Act (1061/1978): Prohibits unfair and deceptive business practices.
  • Act on Trading in Financial Instruments (1070/2017): Regulates trading activities and markets.
  • Act on Security Accounts (750/2012): Governs safety of customer securities.
  • Act on Detecting and Preventing Money Laundering and Terrorist Financing (444/2017): Sets anti-money laundering measures.
  • The Act on Finnish Financial Supervisory Authority (878/2008): Establishes the regulatory body responsible for supervision of the financial markets.

Consumer Credit

  • Act on Consumer Mortgage Brokers (852/2016)
  • Consumer Protection Act (38/1978)
  • Act on Registration of Certain Loan Providers and Credit Brokers (853/2016): Ensures fair practices in consumer credit transactions and protect borrowers’ interests.

Credit Institutions

  • Act on Credit Institutions (610/2014): Regulates credit institutions.
  • Payment Services Act (290/2010): governs payment services.
  • Act on Payment Institutions (297/2010): Regulates payment institutions.
  • Act on Foreign Payment Institutions’ Actions in Finland (298/2010): Oversees foreign payment institutions.
  • Act of Registration of Entities Undertaking Debt Collection (411/2018): Governs debt collection entities.
  • Act on Agent of Bondholders (574/2017): Regulates bondholder agents.

Corporations and Partnerships

  • Limited Liability Companies Act (624/2006): Govern the formation, operation, and dissolution of corporations.
  • Partnerships Act (389/1988): Regulates partnerships.

Funds, Platforms, and Investing

  • Act on Crowd Funding (734/2016): Creating a legal structure for crowdfunding.
  • Act on Investment Services (747/2012): Govern investment services.
  • Act on Alternative Fund Managers (162/2014): Regulates alternative fund managers.
  • Act on Mutual Funds (213/2019): Creates a legal structure for mutual funds.

Key Market Legislation

  • Bank Recovery and Resolution Directive (2014/59/EU): European regulatory framework for financial markets in Finland.
  • Market Infrastructure Regulation (Regulation (EU) 648/2012): Provides a European regulatory framework for financial markets.
  • Capital Requirements Regulation (Regulation (EU) 575/2013): Sets capital requirements for financial institutions.
  • Market Abuse Regulation (Regulation (EU) 596/2014): Governs market abuse and insider trading.

These legislations provide a robust legal foundation within the Finnish financial regulatory framework. They strive to protect investors, consumers and maintain the integrity of financial markets.