Mission 

The Financial Supervisory Authority (FIN-FSA) took over most of the tasks performed by the former authorities, the Financial Supervision Authority and the Insurance Supervisory Authority.

Our activities are aimed at ensuring financial stability and the necessary smooth operation of credit, insurance and pension institutions, and other supervised entities. Another aim is to safeguard the interests of the insured and to maintain confidence in the financial markets. We are also responsible for fostering compliance with good practice in, and public awareness of, financial markets. These objectives and tasks are documented in the Act on the Financial Supervisory Authority.

FIN-FSA’s tasks by department

Institutional Supervision

  • Responsible for supervising the institutions, ie the supervised entities
  • Conducts supervisory reviews, undertakes overall analyses of risks and capital requirements of supervised entities 
  • Coordinates international cooperation between supervisory colleges
  • Monitors the authenticity of information reported by supervised entities in financial statements, from the perspective of profitability and capital adequacy calculations

Prudential Supervision

  • Monitors credit and funding risks, as well as investment and operational risks
  • Controls underwriting risks, such as calculation and adequacy of technical provisions
  • Undertakes analyses of the operational environment of supervised entities and the sector’s profitability and capital adequacy
  • Develops actuarial and financial models and research
  • Upgrades data collection planning and maintenance

Market Supervision

  • Monitors the appropriateness of investor information and market practices related to securities issuance, listed companies, disclosure of major holdings and takeover bids
  • Ensures proper enforcement of IFRSs and other financial reporting, from the perspective of investor information
  • Responsible at FIN-FSA for matters concerning auditing
  • Monitors the appropriateness of investor information and market practices related to mutual fund activity, asset management and offering of securities-linked insurance and savings products
  • Supervises trading and brokerage, and investigates potential cases of abuse in securities markets
  • Monitors the functioning of securities market infrastructures

Conduct of Business Supervision

  • Exercises regulation and supervision of relationships between service providers and customers
  • Supervises the legality of products and marketing
  • Deals with financial service providers’ applications for authorisation and registration and monitors the appropriateness of internal processes
  • Participates in domestic and international cooperation concerning consumer protection

17 December 2009