The Finnish Financial Supervisory Authority (FIN-FSA) published its supervisory priorities for 2025, keeping a focus on the soundness of governance and on risk management in an uncertain operating environment shaped by geopolitical developments, regulatory change and other uncertainties. It also announced it will increase transparency by publishing summaries of entity-specific inspections completed in 2025 on its public website. Supervision will be guided by risks and controls covering operational and financial preparedness, IT and cyber risks, ESG risks, and risks related to outsourcing and the increasing use of artificial intelligence, alongside client and investor protection and sustainability reporting. The FIN-FSA highlighted new supervisory areas linked to the Artificial Intelligence Regulation, the Digital Operational Resilience Act (DORA) and sustainability reporting, and noted responsibility for supervising newly authorised entities including crypto-asset providers and the pension provider KEVA. Banking thematic work will focus on credit risk and lending, with inspections targeting governance and internal models, and additional work in banks and payment services covering money laundering and terrorist financing prevention and sanctions compliance. Insurance supervision will examine investment expenses, solvency calculation and valuation, automated decision-making, agent activities, outsourcing and risk management, while capital markets supervision will assess IFRS application, sustainability reporting and the marketing of crypto-asset services, including a joint review with the European Securities and Markets Authority on compliance and internal control. The FIN-FSA will start posting inspection summaries in the first part of the year, initially releasing several at a time, and will publish only those arising from its own inspection programme. It will not publish anything on prudential inspections of Eurosystem-significant banks under direct European Central Bank supervision, and it noted that thematic assessments may be reprioritised and can trigger more detailed investigations or other supervisory measures.
Finanssivalvonta 2025-01-02
Finnish Financial Supervisory Authority sets 2025 supervisory priorities and begins publishing summaries of entity-specific inspections
The Finnish Financial Supervisory Authority (FIN-FSA) outlined its 2025 priorities, emphasizing governance, risk management, and transparency. Key areas include operational preparedness, IT and cyber risks, ESG risks, and supervising new entities like crypto-asset providers. FIN-FSA will address credit risk, money laundering prevention, and compliance in banking, insurance, and capital markets, with thematic work on AI Regulation, the Digital Operational Resilience Act, and sustainability reporting.