The Finnish Financial Supervisory Authority (FIN-FSA) has amended its Regulations and Guidelines 4/2023 on customer due diligence for compliance with sanctions regulation and national freezing orders, introducing technical updates linked to the EU Instant Payments Regulation and amendments to Finland’s Anti-Money Laundering Act. The changes enter into force on 9 January 2025. The amendments affect FIN-FSA supervised entities that provide instant payments and extend the scope of the guidance in chapter 1.1 to crypto-asset service providers as defined in Article 3(1)(15) of the EU Markets in Crypto-Assets Regulation. Chapter 1.1 was also updated to remove certain entity types previously in scope, including entities authorised under Article 28 of the EU Securitisation Regulation, holding companies, and approved public arrangements and approved reporting mechanisms, alongside updates to the list of national regulations and additions and renumbering in chapters 6 and 7.
Finanssivalvonta 2025-01-08
Finnish Financial Supervisory Authority amends sanctions-related customer due diligence guidance to cover instant payments and crypto-asset service providers effective 9 January 2025
The Finnish Financial Supervisory Authority (FIN-FSA) updated its Regulations and Guidelines 4/2023 on customer due diligence to align with the EU Instant Payments Regulation and amendments to Finland’s Anti-Money Laundering Act. Effective 9 January 2025, the changes impact entities providing instant payments and extend guidance to crypto-asset service providers. Updates also include removing certain entity types from scope and revising national regulations and chapters 6 and 7.