The Financial Supervisory Authority of Norway (Finanstilsynet) supervises banks, insurers, finance companies, investment firms, markets for financial instruments, securities depositories, estate agents, e-money institutions, auditors and accountants, etc. Finanstilsynet's remit is to promote financial stability and well-functioning markets through its supervision of institutions and markets.
Finanstilsynet examines the management and control procedures established by institutions and reviews their financial reporting and documentation. When dealing with matters pertaining to the financial markets, the Ministry routinely consults Finanstilsynet before a decision is taken.
Each year Finanstilsynet files a report on its activities with the Ministry of Finance. The report is submitted to the Storting by the Ministry of Finance in an annual financial markets report (white paper). Finanstilsynet's expenditures are covered, in their entirety, by the supervised institutions, as well as by a number of fees and charges.
Finanstilsynet's staff numbered 323 at the end of 2022.
Web page: https://www.finanstilsynet.no/en/
FAQs
Supervision. FINMA's core task is prudential supervision of the financial market. It also uses private audit companies to extend its reach. FINMA assigns banks to different risk categories.
What is the Financial Supervisory Authority regulator in Norway? ›
The Financial Supervisory Authority of Norway (Finanstilsynet) supervises banks, insurers, finance companies, investment firms, markets for financial instruments, securities depositories, estate agents, e-money institutions, auditors and accountants, etc.
Who is the regulator of Finland? ›
Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland's financial and insurance sectors.
Who is the bank regulator in Denmark? ›
The Danish Financial Supervisory Authority (FSA) regularly conducts inspections of the financial institutions in Denmark, including Danske Bank, and afterwards prepares statements of its inspections.
What is the supervisory authority responsible for? ›
Each MS must provide for at least one independent public authority (Supervisory Authority) responsible for monitoring the consistent application of the data-protection laws.
What is the purpose of financial supervision? ›
Financial supervision pursues system stability, which means reducing the likelihood of bank crises, indirectly protecting depositors and creditors. However, the supervisory authorities do not guarantee, in the strict sense, bank customers' transactions.
Is Finland a democracy or dictatorship? ›
Countries
| Regime | Type | Subtype |
|---|
| Finland | Democracy | Semi-Presidential Democracy |
| France | Democracy | Semi-Presidential Democracy |
| Gabon | Dictatorship | Civilian Dictatorship |
| Gambia | Dictatorship | Military Dictatorship |
108 more rowsAccording to the Constitution of Finland, the Parliament elects the Prime Minister, who is appointed to office by the President. The Prime Minister is, in practice, the most powerful politician in the country.
Who is the current head of government in Finland? ›
Finland is a republic whose head of state is President Alexander Stubb, who leads the nation's foreign policy and is the supreme commander of the Finnish Defence Forces.
Who regulates banks in Finland? ›
Financial Supervisory Authority - www.finanssivalvonta.fi.
The Danish Financial Supervisory Authority (DFSA) (Danish: Finanstilsynet) is the financial regulatory authority of the Danish government responsible for the regulation of financial markets in Denmark.
Who regulates the most banks? ›
The Federal Reserve directly supervises state-chartered banks that choose to become members as well as foreign banking offices and Edge Act corporations. The Federal Reserve is also the primary supervisor and regulator of bank holding companies and financial holding companies.
What is authority in supervision? ›
Supervisory authority is a term used to describe the official body that has the ultimate responsibility for ensuring compliance with data privacy laws. This can be both national and international.
What does the financial authority do? ›
The FCA states that their overall aims are to ensure that “markets and financial systems are sound, stable and resilient, with clear pricing information that consumers can easily understand. This responsibility has been set out by the Government according to the Financial Services Act 2012.
Who is the supervisory authority? ›
An individual authority established by its member state to supervise the compliance with a specific regulation. In regards to GDPR, each country will have its own authority, for the UK the Information Commissioner's Office (ICO) will be the Supervisory Authority.
What are the financial authority in the US? ›
There are numerous agencies assigned to regulate and oversee financial institutions and financial markets in the United States, including the Federal Reserve Board (FRB), the Federal Deposit Insurance Corp. (FDIC), and the Securities and Exchange Commission (SEC).
