Regulation of listed companies 

The following sections provide an overview of key provisions concerning issuers of securities, FIN-FSA standards and self-regulation, including some useful links.

Prospectuses

 The Securities Markets Act (chapter 2, sections 2-4f) 
 Decree of the Ministry of Finance on the Prospectus Referred to in Chapter 2 of the Securities Markets Act (452/2005)
 Commission Regulation on Prospectuses (809/2004)
 Commission Regulation amending Commission Regulation 809/2004 (1787/2006)
 Commission Regulation amending Commission Regulation 809/2004 (211/2007)
 ESMA update of the CESR Recommendations: The consistent implementation of Commission Regulation (EC) N:o 809/2004 implementing the Prospectus Directive  
 Standard 5.2a Securities offerings and listing
Marketing of securities; see the Securities Markets Act (chapter 2, section 1) and FIN-FSA standard 2.2 Marketing of financial services and financial instruments

Insider regulation

 The Securities Markets Act (see chapter 5) 
 Penal Code (see chapter 51)
 Commission Regulation on Exemptions for Buy-Back Programmes and Stabilisation of Financial Instrumets (2273/2003)
 Standard 5.3 Declarations on insider holdings and insider registers
 Helsinki Stock Exchange's rules for insiders

Disclosure obligation

 The Securities Markets Act (see chapter 2, sections 5-11)
 Decree of the Ministry of Finance on the Regular Duty of Disclosure of an Issuer of a Security
 Standard 5.1 Disclosure of periodic information
 Standard 5.2b Discolure obligation of the issuer and shareholder
  The rules of the Helsinki Stock Exchange

Flagging

 The Securities Markets Act (chapter 2, sections 9-10)
 Decree of the Ministry of Finance on the Disclosure Obligation and on the Information to be Disclosed in Connection with the Disclosure and Publication of Portions of Holdings
 Standard 5.2b Discolure obligation of the issuer and shareholder

Supervision of listed companies' financial reporting 

 Accounting Act 
 Auditing Act
 The Auditing Board of the Central Chamber of Commerce

Takeover bids

 The Securities Markets Act (see chapter 6) 
 Standard 5.2c Takeover bids and mandatory bids
 The Finnish Panel on Takeovers and Mergers at the Central Chamber of Commerce's recommendation regarding the Procedures to Be Complied within Takeover Bids (in Finnish)
 The Finnish Panel on Takeovers and Mergers 

Other useful links

 Act on the Financial Supervisory Authority 
 FIN-FSA Standards
 Limited Liability Companies Act
 The rules of the Helsinki Stock Exchange
 Securities Market Association (Corporate Governance)
 Act on the Book-entry System
 Regulation of Euroclear Finland Oy
 CESR

European Commission

 Securities legislation
 Company law, accounting and auditing

15 December 2011