General Information & Client Services
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
February 01, 2018

FIN-FSA amended certain regulations and guidelines due to the national transposition of the Markets in Financial Instruments Directive II (MiFID II: Directive 2014/65/EU). The updated regulations and guidelines were issued on January 23, 2018 and shall enter into force on February 01, 2018.

The amended regulations and guidelines are as follows:

  • Regulations and guidelines 1/2012 on outsourcing in supervised entities belonging to the financial sector
  • Regulations and guidelines 13/2013 on public insider register of market participants, employee pension insurance companies, and management companies
  • Regulations and guidelines 14/2013 on trading participants in third countries
  • Regulations and guidelines 3/2014 on authorizations, registrations, and notifications

In  context of the amendments due to MiFID II, reference to the EBA recommendations on outsourcing to cloud service providers (EBA/REC/2017/03) was added to the FIN-FSA regulations and guidelines 1/2012 on outsourcing in supervised entities belonging to the financial sector. The EBA recommendations were published on December 20, 2017 and they will apply from July 01, 2018. FIN-FSA recommends that supervised entities comply with the EBA recommendations on July 01, 2018. 

Moreover, regarding the FIN-FSA regulations and guidelines 13/2013, chapter 7 concerning the registrar’s obligation to annually submit to FIN-FSA a report on the keeping of the insider register was repealed. FIN-FSA is examining whether the national transposition of MiFID II also necessitates amendments to other regulations and guidelines, including Regulations and guidelines 15/2013, Standard 1.4 on assessment of fitness and propriety (fit and proper), and Standard RA1.4 on reporting of fitness and propriety to the Financial Supervision Authority. 

 

Related Link: Press Release

Effective Date: February 01, 2018

Keywords: Europe, Finland, Securities, MiFID II, Regulations and Guidelines, National Transposition, FIN-FSA

Related Insights
News

FSB Publishes the G-SIB List for 2018

FSB published the 2018 list of global systemically important banks (G-SIBs) using end-2017 data and an assessment methodology designed by BCBS.

November 16, 2018 WebPage Regulatory News
News

BCBS Publishes Additional Information on the 2018 G-SIB Assessment

BCBS published further information related to the 2018 assessment of global systemically important banks (G-SIBs), including additional details to help understand the scoring methodology.

November 16, 2018 WebPage Regulatory News
News

CBB Proposes and Finalizes Rulebook Modules for Banks in November 2018

CBB announced the issuance of new leverage ratio requirements under Module CA (Part 3) for Islamic (Chapter CA-10) and conventional bank licensees (Chapter CA-15).

November 15, 2018 WebPage Regulatory News
News

OFR on Financial Stability Risks in Its 2018 Annual Report to Congress

OFR released its 2018 Annual Report to Congress, which examines risks to the financial stability in the United States.

November 15, 2018 WebPage Regulatory News
News

SRB Sets Expectations on Resolvability of Banks in Context of Brexit

SRB published a position paper that presents its expectations about ensuring resolvability of banks in the context of Brexit.

November 15, 2018 WebPage Regulatory News
News

PRA Publishes Final Policy on Capital Framework for Securitization

PRA published the policy statement PS29/18, which provides feedback to responses to the consultation paper CP12/18 on the new EU framework and significant risk transfer for securitization.

November 15, 2018 WebPage Regulatory News
News

IAIS Publishes Drafts of Revised ICP 8, ICP 15, ICP 16, and ICP 20

IAIS published the drafts of revised Insurance Core Principles on Public Disclosure (ICP 20), Investments (ICP 15), Enterprise Risk Management for Solvency Purposes (ICP 16), and Risk Management and Internal Controls (ICP 8), along with a revised draft of the glossary on enterprise risk management (ERM).

November 14, 2018 WebPage Regulatory News
News

PRA Updates Final Policy and Reporting Form for Leverage Ratio in UK

PRA published the Policy Statement PS28/18, which provides feedback to responses to the consultation paper CP14/18 titled "UK leverage ratio: Applying the framework to systemic ring-fenced bodies and reflecting the systemic risk buffer."

November 14, 2018 WebPage Regulatory News
News

IASB Could Extend Effective Date for IFRS 17 and IFRS 9 for Insurers

IASB has voted to propose a one-year deferral—to 2022—of the effective date for the new insurance contracts standard IFRS 17. IASB also decided to propose extending to 2022 the temporary exemption for insurers to apply the financial instruments standard IFRS 9.

November 14, 2018 WebPage Regulatory News
News

MAS Amends Notice 637 on Capital Adequacy Requirements in Singapore

MAS published the final, revised Notice 637 on the risk-based capital adequacy requirements in Singapore.

November 13, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2219