Amendment to Regulations and guidelines 8/2016 Payment institutions and persons providing payment services without authorisation
The Financial Supervisory Authority has amended Regulations and guidelines 8/2016 Payment institutions and persons providing payment services without authorisation. The amendments concern the new system for reporting supervised entities’ financial position and risks. The introduction of the new Reporting System changes the way that supervisory data are submitted. The amendments apply to the reporting of the following data collections:
- Financial statement information (MA)
- Large customer risks (MU)
- Own funds (MV)
- Granting of credit (MJ)
In addition, the FIN-FSA has amended the regulations and guidelines so that in future all payment institutions (incl. electronic money institutions) will also be required to submit an MJ report on the granting of credit, regardless of whether or not they grant the credit referred to in the report. If no credit is granted in the institution’s operations, the report can be submitted as a “nothing to report” report.
The FIN-FSA also points out that the report on institutions’ financial statement information (MA) is used, alongside other supervisory work, for the purpose of determining their supervision fees.
Entry into force of amendments to regulations and guidelines
The amended regulations and guidelines will enter into force on 1st March 2024.
For further information, please contact
- Newreportingsystem(at)finanssivalvonta.fi (technical questions on reporting)
- Juha Eerikäinen, Senior Financial Supervisor, telephone +358 9 183 5322 or juha.eerikainen(at)fiva.fi