Request by the FIN-FSA for police investigation concerning Oma Savings Bank

The bank operates with the authorisation of a credit institution, it is obliged to comply with banking regulation, and it operates under the FIN-FSA's supervision. Furthermore, the bank is listed on the Nasdaq Helsinki trading venue, and it is thereby obliged to comply with securities market regulation.

The shortcomings were revealed in regular day-to-day supervision, and the FIN-FSA always intervenes in shortcomings it detects in regulatory compliance.

– The FIN-FSA's duty is to ensure stability and trust in the financial markets. Therefore, we require and oversee that market participants comply with regulation governing their activities and, if they are stock-market listed entities, also regulation governing listed companies. This is a prerequisite for trust, and therefore we will always take immediate action on shortcomings. In this case, too, our supervisors are closely monitoring the bank’s activities, states Tero Kurenmaa, Director General of the FIN-FSA.

The FIN-FSA has authority to impose administrative sanctions, such as penalty payments and warnings on infringements of financial market regulation. If the infringements involve a suspicion of crime, the FIN-FSA files a request to the police for criminal investigation. In order to ensure the integrity of the criminal investigation, the FIN-FSA will not communicate about criminal investigation requests, but the police is responsible for any communications related to criminal investigation.

For further information, please contact:

Armi Taipale, Head of Department  Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030 (Mon–Fri 9:00–16:00).

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