Regulatory Alerts2025-01-01 | FIN-FSA Regulations and guidelines 3/2025Keva Governance Rules and Guidelines: Summary and Feedback on Statements
Finanssivalvonta (the Finnish Financial Supervisory Authority) issues amended rules and guidelines concerning Keva's governance, incorporating stakeholder feedback on board qualifications, investment expertise assessment, managing director selection, and cybersecurity reporting obligations. The authority clarifies that Keva's public-law nature and buffer fund require tailored supervision distinct from standard life insurance solvency frameworks, while maintaining collective assessment of board investment expertise and retaining flexibility for onboarding education. Furthermore, Finanssivalvonta adjusts terminology in the reporting forms and recommendations to align with Keva's statutory framework and accounting practices without imposing unnecessary constraints.