The Market Supervision Department of the Financial Supervisory Authority (FIN-FSA) supervises trading in listed companies’ securities. FIN-FSA supervision concentrates on suspected cases of market abuse (market abuse supervision). Supervision of trading focuses mainly on investigations relating to suspected cases of abuse of inside information. The stock exchange monitors daily trading and trading parties’ adherence to marketplace rules. However, supervision of market manipulation is primarily the responsibility of the FIN-FSA.
The obligation to report securities trading in line with the Markets in Financial Instruments Directive (MiFID) will provide a better picture of securities trades and will also enable the supervision of trading outside the stock exchange. Exchange of information between European supervisors will increase, contributing to improved supervision.
The purpose of FIN-FSA supervision is to ensure the functioning and reliability of markets. Through its supervision, FIN-FSA aims to both prevent abuse and to investigate it retrospectively.