Regulatory Alerts2021-01-01 | FIN-FSA Regulations and guidelines 12/2021Regulations and Guidelines for Sickness Funds and Funeral and Divorce Allowance Funds
The Finnish Financial Supervisory Authority (FIN-FSA) issues regulations and guidelines effective from March 31, 2022, specifically targeting sickness funds and funeral and divorce allowance funds under the Insurance Fund Act. These documents, originally published in Finnish and Swedish, cover accounting, financial statements, and management reports for these specific entities. The collection serves as the primary regulatory framework for the operational and financial compliance of these supervised insurance funds.
These regulations and guidelines are unfortunately available only in Finnish and Swedish. Please find a link to the Swedish version here.
Regulations and Guidelines 12/2021 (pdf)
Collection of regulations and guidelines for sickness funds and funeral and divorce allowance funds
Effective from March 31, 2022
Updated collection of regulations and guidelines for funeral and divorce allowance funds under the Insurance Fund Act
Amended on January 1, 2014
Appendices to the collection of regulations and guidelines
Amended on December 30, 2002
File No. 11/002/2002
More information
Summary and feedback on statements
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 service 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 reports: Insurance companies, occupational pension insurance companies, insurance associations, insurance mutuals, branches of third-country insurance companies, and pension institutions established by law
Regulations and guidelines on accounting, financial statements, and management reports: Pension funds and pension foundations
Regulations on accounting, financial statements, and management reports: Sickness funds and funeral and divorce allowance funds
Financial sector regulations and guidelines on reporting of financial information (FINREP)
Accounting, financial statements, and management reports 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 register of market participants, occupational pension insurance companies, and asset management companies
Trading parties from third countries
Regulations and guidelines on disclosure obligation
Insurance operations