On Oct. 19, 2026, FINFSA announced amendments to Regulations, Guidelines 3/2023.
Changes mainly based on amendments to Act on Certain Lenders and Peer-to-Peer Lending Intermediaries, will enter into force simultaneously with Act on Nov. 20, 2026.
The regulations take into account that, per S4, ss2, para 2 Act 186/2023 Registration of Certain Creditors, Credit Intermediaries, register notification must also indicate if person making notification intends to provide advisory services re consumer credit.
I.e. services falling within scope of Chapter 7 of the Consumer Protection Act.
Also amended chapter on knowledge of credit activities required of lender and peer-to-peer lending intermediary or its senior management to correspond to the current law.
Professional requirements applicable to consumer lenders and peer-to-peer lending intermediaries, their senior management further regulated in Decree on Professional Requirements of Lenders, Credit Intermediaries in Certain Consumer Credit 164/2026.
Instructions on taking Decree into account in registration notification have been added.
In same context, some individual technical changes and clarifications made to wording.
Legal changes in force in full Nov. 20, expand obligation to register as credit provider.
If a party carrying out activities that require registration under the new law applies for registration before Nov. 20, 2026, it must take legislative amendments into account in advance when applying for registration, also changes to regulations and guidelines.
FINFSA will publish changes to regulations in advance on its website before they enter into force; valid version will be kept available on its website until Nov. 20, 2026.
On Jun. 13, FINFSA announced it will now supervise consumer loans.
FINFSA announced that it will supervise companies consumer loans from Jul. 1, 2023.
Summary
Supervision of companies granting consumer loans will be transferred from the Regional Administrative Agency of Southern Finland is responsible for this task.
Indebtedness of Finnish households is at a high level, both in terms of housing loans and consumer loans due to this a law has been established to centralize credit control.
Companies that grant consumer loans are required to register with the supervising authority and must meet the requirements for registration throughout their operations.
Business methods such as sales, marketing and credit granting principles will be monitored by the FINFSA in the future in the same way as other lenders.
Furthermore, FINFSA conducts regular inspections of those under supervision and, if necessary, imposes administrative sanctions and fines for any detected negligence.
Jun. 19, 2023 Guideline 3/2023
On Jun. 19, 2023, FINFSA published Regulations and guidelines 3/2023: Registration of certain lenders and peer-to-peer loan brokers, which enter into force Jul. 1, 2023.
Follows new act enacted regarding the registration of certain lenders and peer-to-peer loan intermediaries concerning the transfer of supervision of consumer lending from the Regional State Administrative Agency for Southern Finland to FINFSA.
Guidelines highlight that FINFSA assesses in detail if an entity fulfilled requirements set by law for certain consumer credit providers or peer-to-peer loan brokers.
It is noted that requirements for registration must be met throughout the operation.
Provide regulations and guidelines on, among other things; the content of the register notice; suitability and reliability requirements; storing and handling customer funds.
Oct. 2026 Amendment
On Oct. 19, 2026, FINFSA announced amendments to Regulations, Guidelines 3/2023.
Changes mainly based on amendments to Act on Certain Lenders and Peer-to-Peer Lending Intermediaries, will enter into force simultaneously with Act on Nov. 20, 2026.
The regulations take into account that, per S4, ss2, para 2 Act 186/2023 Registration of Certain Creditors, Credit Intermediaries, register notification must also indicate if person making notification intends to provide advisory services re consumer credit.
I.e. services falling within scope of Chapter 7 of the Consumer Protection Act.
Also amended chapter on knowledge of credit activities required of lender and peer-to-peer lending intermediary or its senior management to correspond to the current law.
Professional requirements applicable to consumer lenders and peer-to-peer lending intermediaries, their senior management further regulated in Decree on Professional Requirements of Lenders, Credit Intermediaries in Certain Consumer Credit 164/2026.
Instructions on taking Decree into account in registration notification have been added.
In same context, some individual technical changes and clarifications made to wording.
Legal changes in force in full Nov. 20, expand obligation to register as credit provider.
If a party carrying out activities that require registration under the new law applies for registration before Nov. 20, 2026, it must take legislative amendments into account in advance when applying for registration, also changes to regulations and guidelines.
FINFSA will publish changes to regulations in advance on its website before they enter into force; valid version will be kept available on its website until Nov. 20, 2026.
