Regulatory Alerts2016-01-01 | FIN-FSA Regulations and guidelines 9/2016Calculation of the Solvency Margin and Diversification of Investments by Pension Institutions Conducting Statutory Pension Insurance
The Finnish Financial Supervisory Authority (FIN-FSA) issued Regulations and Guidelines 9/2016, effective January 1, 2017, to establish rules for calculating the solvency margin and diversifying investments for pension institutions conducting statutory pension insurance. The document incorporates feedback from a public consultation launched in December 2015 and references related regulations concerning accounting, financial statements, and capital adequacy. These guidelines serve as the primary regulatory framework for prudential supervision of statutory pension insurance providers in Finland.
These regulations and guidelines are unfortunately available only in Finnish and Swedish. Please find a link to the Swedish version here.
Regulations and Guidelines 9/2016 (pdf)
Calculation of the Solvency Margin and Diversification of Investments by Pension Institutions Conducting Statutory Pension Insurance
Effective from 1.1.2017
More information
Request for Comments 10/2015
Regulations and guidelines issued by the Financial Supervisory Authority regarding the calculation of the solvency margin and diversification of investments by pension institutions conducting statutory pension insurance, as well as amendments to the Regulations and Guidelines.
Comments received on the draft regulations and guidelines
Comments received on Request for Comments 10/2015, dated 10.12.2015, (ref. no. FIVA 12/01.00/2015)
Feedback on received comments
Feedback on received comments related to:
Regulations and Guidelines 1/2011 Submission of machine-readable supervisory data by entities operating in the insurance market to the Financial Supervisory Authority;
Regulations and Guidelines 14/2012 Regulations and guidelines concerning accounting, financial statements, and management reports: Insurance companies, occupational pension insurance companies, insurance associations, insurance holding companies, branches of third-country insurance companies, and pension institutions established by law;
Regulations and Guidelines 13/2012 Capital adequacy and coverage of liabilities and pension liabilities: Occupational pension institutions.
FIN-FSA regulations and guidelines
Commencement of activities
Payment institutions and persons offering payment services without a license
Consumer credit providers and peer-to-peer lending intermediaries
Organisation of supervised entities’ operations
Organization and procedures for investment fund activities
Outsourcing in supervised entities belonging to the financial sector
Reporting of mortgage bank operations
Alternative investment fund managers
Organization and procedures for investment services activities
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 concerning accounting, financial statements, and management reports: Insurance companies, occupational pension insurance companies, insurance associations, insurance holding companies, branches of third-country insurance companies, and pension institutions established by law
Regulations and guidelines concerning accounting, financial statements, and management reports: Pension funds and pension foundations
Regulations concerning accounting, financial statements, and management reports: Sickness funds and funeral and severance 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 list of market participants, occupational pension insurance companies, and fund management companies
Trading counterparties from third countries
Regulations and guidelines on disclosure obligation
Insurance operations