The securities market in Finland is supervised by the Finnish Financial Supervisory Authority. The principal statute governing the securities market is the Securities Markets Act. The Securities Markets Act contains regulations, inter alia, with respect to company and shareholder disclosure obligations, listing of securities, trade in listed securities, public take-overs, redemption obligations and insider obligations. The role of the Finnish Financial Supervisory Authority is to monitor compliance with these regulations.
The Securities Markets Act specifies minimum disclosure requirements for Finnish companies listed on the Helsinki Stock Exchange or offering securities to the public in Finland. The information provided must be sufficient to enable investors to make a sound evaluation of the security being offered and the issuing company. Finnish listed companies have an obligation to publish regularly information inter alia with respect to their results and financial standings as well as a continuing obligation to publish any such matters likely to have a material impact on the value of their securities.