Regulatory Alerts2024-01-01 | FIN-FSA Regulations and guidelines 3/2024Procedures to be Followed in Banking Services
Finanssivalvonta has issued binding regulations and guidelines establishing comprehensive marketing, disclosure, and pricing obligations for financial service providers offering mortgage loans, consumer credit, and deposit accounts in Finland. The document mandates clear advertising of the Annual Percentage Rate using representative examples, requires responsible lending assessments and detailed pre-contractual disclosures for credit agreements, and sets forth specific rules for the realization of securities and marketing of deposit products. By standardizing these procedures, Finanssivalvonta aims to enhance customer protection, ensure transparency in financial products, and strengthen trust in the domestic financial market.
Share