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Developing the financial markets

Photo: Maskot / Gorilla.

Well-operating financial markets are key to economic development. The Ministry of Finance for its part has the task of maintaining the stability and functionality of financial markets.

The Ministry of Finance ensures that the regulation of financial markets promotes the stable operation of the financial markets and that the supply of financial services in Finland remains safe, efficient and versatile.

Most of the Finnish national regulations are based on EU law, because the regulation of financial markets in the EU is widely harmonised. The Ministry of Finance monitors financial markets and participates actively and with foresight particularly in the preparation of regulations concerning financial markets in the EU and the international organisations, such as the Financial Stability Board. The regulation of financial markets on the Ministry's responsibility applies to

• the operation of companies offering financial and investment services, such as credit institutions, investment services companies and fund management companies;

• payment systems;

• trade on financial instruments;

• custody and clearance of stocks;

• monitoring financial markets and crisis resolution, as well as

• monetary and central banking system.

 

The Ministry of Finance grants operating licences to

• the regulated market, i.e. the stock exchange;

• clearing houses;

• the central securities depository (CSD);

• the custodian and

• the central counterparty

and confirms their rules.

The Ministry also confirms the rules of the deposit guarantee fund of the credit institutions and the compensation fund for investors.