Regulatory Alerts2012-01-01 | FIN-FSA Regulations and guidelines 16/2012Regulations on Accounting, Financial Statements and Management Report: Sickness Funds and Funeral and Divorce Benefit Funds
The Finnish Financial Supervisory Authority (FIN-FSA) issues binding regulations and guidelines governing the accounting, financial statements, and management reports for sickness funds and funeral and divorce benefit funds. These rules, effective from January 1, 2013 and last amended on January 18, 2022, establish the specific reporting and compliance standards required for these entities within the Finnish financial sector. The document serves as the primary regulatory framework ensuring transparency and accuracy in the financial reporting of these specific insurance and benefit organizations.
These regulations and guidelines are unfortunately available only in Finnish and Swedish. Please find a link to the Swedish version here.
Regulations and Guidelines 16/2012 (pdf)
Regulations on Accounting, Financial Statements and Management Report: Sickness Funds and Funeral and Divorce Benefit Funds
Effective from 1.1.2013
Amended 18.1.2022
Regulations and Guidelines 16/2012 Regulations on Accounting, Financial Statements and Management Report: Sickness Funds and Funeral and Divorce Benefit Funds (version 3) (pdf)
More information
Request for Comments 9/2015 Regulations and Guidelines on Accounting, Financial Statements and Management Report for the Insurance Sector
Request for Comments 4/2017 Amendments to Regulations and Guidelines for the Insurance Sector and to Data Collection Forms and Their Guidelines
Comments Received on the Draft Regulations and Guidelines Comments received with Request for Comments 9/2015, 7.12.2015 (ref. no. FIVA 13/01.00/2015)
Feedback on Received Comments
Comments received with Request for Comments 4/2017, 2.10.2017, (ref. no. FIVA 11/01.00/2017)
Finnish Insurance Companies Association (Vakuutuskassat ry) Feedback on Received Comments
Request for Comments (ref. no. FIVA 19/01.00/2021) Summary and Feedback on Comments 2021
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 loan 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 mutuals, branches of third-country insurance companies and statutory pension institutions 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 Divorce Benefit Funds
Financial sector regulations and guidelines on reporting of financial information (FINREP) Financial sector accounting, financial statements and management report
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