Finland's Financial Supervisory Authority (FIN-FSA) has issued a decision requiring Nanocredit LTD to disclose information on credits it has granted to the Positive Credit Register, and has imposed a running conditional fine to enforce compliance. The conditional fine has a base amount of EUR 10,000, with an additional EUR 5,000 for each full month the obligation remains unmet. Nanocredit LTD must submit the required information within two months of being served with the decision and must also keep the submitted information updated within the time limits set by law under the penalty of a fine. The FIN-FSA linked the measure to safeguarding confidence in the register, which is intended to support reliable creditworthiness assessments and help prevent over-indebtedness. The decision is not yet legally binding, and Nanocredit LTD may appeal to the Helsinki Administrative Court within 30 days of service.
Finanssivalvonta 2026-04-27
Finland's Financial Supervisory Authority orders Nanocredit LTD to report credits to the Positive Credit Register backed by a running conditional fine
Finland's Financial Supervisory Authority has ordered Nanocredit LTD to report all granted credits to the Positive Credit Register and imposed a conditional fine of EUR 10,000 plus EUR 5,000 for each full month of non-compliance. The measure, aimed at safeguarding confidence in the register and supporting reliable creditworthiness assessments, is not yet legally binding and may be appealed to the Helsinki Administrative Court.