With effect on 1st August, Finanssivalvonta, the Finnish all-in-one financial regulator, is going to have a new organisational structure.

The aim of FIN-FSA, as it likes to call itself, is to allocate its resources more efficiently, to divide tasks in a clearer way and to improve operational efficiency.

The Market Supervision and Conduct of Business Supervision Departments will be merged into one department. At the same time, the Investment Products and Financial Services Divisions will be combined to form a new Investment Products and Services Division. The merging of operations will allow the regulator to supervise investment products and the procedures applied in selling them more closely than before.

As for the Institutional Supervision Department, the supervision of the insurance sector will be divided into two divisions: Non-life and Life Insurance Companies and Employee Pension Institutions, in which the supervision of insurance sector solvency and key risk areas will be concentrated. The Financial Sector Division will continue to supervise the banking sector. The Institutional Supervision Department's supervisory divisions will absorb the accounting experts and legal advisors of the Capital Adequacy Calculations Division and the actuaries of the Underwriting Risks and Research Division that operate today under the Prudential Supervision Department.

The functions of the General Secretariat, strategic support and administrative tasks will be concentrated in the General Secretariat and Strategic Support Unit. In addition, "Communications" will operate administratively as part of the General Secretariat and Strategic Support.