Regulatory Alerts2025-01-01 | FIN-FSA Regulations and guidelines 2/2025Acquisition of Control over a Company Located in a Country Outside the European Economic Area
Finanssivalvonta (the Finnish Financial Supervisory Authority) has issued Regulation and Guidelines 2/2025 to establish the notification requirements for credit institutions, investment firms, insurance companies, and financial/insurance groups acquiring control over entities located outside the European Economic Area. The regulation mandates that these acquirers submit prior notifications in Finnish, Swedish, or English, accompanied by specific documentation detailing corporate structure, management reliability, applicable laws, and supervisory arrangements. A three-month assessment period begins upon submission of complete notifications, during which Finanssivalvonta may prohibit the acquisition if foreign legal or administrative frameworks would significantly hinder effective supervision, subject to consultations with other key supervisory authorities.