Regulatory Alerts2021-01-01 | FIN-FSA Regulations and guidelines 3/2021Regulations and Guidelines for Unemployment Funds 3/2021
The Finnish Financial Supervisory Authority (FIN-FSA) issued Regulations and Guidelines 3/2021, which entered into force on January 1, 2022, and were amended on May 20, 2025. These regulations specifically govern the operational requirements and compliance standards for unemployment funds in Finland. The document serves as the authoritative regulatory framework for these entities, covering aspects such as risk management, reporting, and organizational structure.
These regulations and guidelines are unfortunately available only in Finnish and Swedish. Please find a link to the Swedish version here.
Regulations and Guidelines 3/2021 (pdf)
Regulations and Guidelines for Unemployment Funds 3/2021
Effective from 1.1.2022
Amended on 20.5.2025
Regulations and Guidelines 3/2021 Regulations and Guidelines for Unemployment Funds (version 1)
More information
Responses to the request for comments dated 24.8.2021:
Responses to the request for comments dated 24.8.2021 (ref. no. FIVA 11/01.00/2021)
Summary of responses
FIN-FSA regulations and guidelines
Commencement of activities
Payment institutions and persons providing 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 on accounting, financial statements and management report: 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 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 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 for calculating 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