Regulatory Alerts2015-01-01 | FIN-FSA Regulations and guidelines 6/2015FIN-FSA Regulations and Guidelines: Commencement of Activities and Governance of Life and Non-Life Insurance Companies
The Finnish Financial Supervisory Authority (FIN-FSA) issued Regulation and Guideline 6/2015 to establish the requirements for the commencement of operations and the governance systems of life and non-life insurance companies. The document, effective from January 1, 2016, outlines regulatory standards for management integrity, outsourcing, and IT security within the insurance sector. It serves as a comprehensive framework for supervised entities to ensure compliance with prudential and operational rules.
These regulations and guidelines are unfortunately available only in Finnish and Swedish. Please find a link to the Swedish version here.
Regulations and Guidelines 6/2015 (pdf)
Commencement of Activities and Governance System of Life and Non-Life Insurance Companies
Effective from 1.1.2016
Amended on 1.2.2026
Incident Report
Damage Report
Integrity and Suitability Assessment of the Management of Insurance Companies/Insurance Mutuals
Guidelines on Outsourcing to Cloud Service Providers
EIOPA Guidelines on Information and Communication Technology Security and Governance
Regulations and Guidelines 6/2015 Commencement of Activities and Governance System of Life and Non-Life Insurance Companies (version 5) (pdf)
More information
Request for Comments 27.5.2019 Amendment to Regulations and Guidelines: Commencement of Activities and Governance System of Life and Non-Life Insurance Companies
Request for Comments 5/2015 Regulations and Guidelines on the Commencement of Activities and Governance System of Life and Non-Life Insurance Companies
Comments Received on the Draft Regulation and Guideline
Comments Received with Request for Comments 27.5.2019 (ref. no. FIVA 6/01.00/2019)
Feedback on Received Comments
Comments Received with Request for Comments 5/2015, 28.9.2015 (ref. no. FIVA 6/01.00/2015)
Confederation of Finnish Industries
Finnish Financial Services Federation
Ministry of Social Affairs and Health
Feedback on Received Comments
Request for Comments Amendments to the Regulations and Guidelines of the Financial Supervisory Authority 8/2014, 1/2012, 6/2015, 8/2016 and 1/2019 Feedback on Received Comments
FIN-FSA regulations and guidelines
Commencement of activities
Payment institutions and persons providing payment services without a license
Consumer credit grantors and peer-to-peer lending intermediaries
Organisation of supervised entities’ operations
Organisation of alternative investment fund management and procedures
Outsourcing in supervised entities belonging to the financial sector
Reporting of mortgage bank operations
Alternative investment fund managers
Organisation of investment services activities and procedures
Preventing Money Laundering and Terrorist Financing
Customer due diligence related to compliance with sanctions regulation and national freezing orders
Risk management
Risk reporting by credit institutions
Reporting of funding plans
Management of operational risk in supervised entities of the financial sector
Management of credit risk and assessment of creditworthiness by supervised entities in the financial sector
Risk management concerning mortgage bank operations
Accounting, financial statements and management report
Regulations and guidelines on accounting, financial statements and management report: Insurance companies, occupational pension insurance companies, insurance associations, insurance mutuals, branches of third-country insurance companies and pension institutions established by law
Regulations and guidelines on accounting, financial statements and management report: Pension funds and pension foundations
Regulations on accounting, financial statements and management report: Sickness funds and funeral and separation allowance funds
Financial sector regulations and guidelines on reporting of financial information (FINREP)
Accounting, financial statements and management report of the financial sector
Capital adequacy
Common European Reporting (COREP)
Regulations and Guidelines related to the Capital Requirements Regulation
Prudential reporting for investment firms (IF)
Conduct of Business
Methods used to calculate the maximum compensation charged for early repayment of housing loans
Disclosure of expenses and returns of long-term savings agreements and insurance policies
Calculation of maximum loan-to-value ratio
Procedures to be followed in banking services
Management of default risks in consumer lending
Operations of securities markets
Takeover bid and the obligation to launch a bid
Public insider register of market participants, occupational pension insurance companies and fund management companies
Trading parties from third countries
Regulations and guidelines on disclosure obligation
Insurance operations