rahoitusmarkkinalaki

Rahoitusmarkkinalaki (RML) is a Finnish law that regulates the financial markets and financial services in Finland. It was enacted in 1998 and has since been amended several times to adapt to changes in the financial landscape. The primary goal of the RML is to protect investors, ensure the stability of the financial system, and promote fair competition in the financial markets.

The RML covers a wide range of financial activities, including banking, insurance, securities trading, and financial advisory services. It establishes the regulatory framework for these activities, including licensing requirements, capital adequacy standards, and risk management practices. The law also sets out the responsibilities of financial market participants, such as banks and insurance companies, to act in the best interests of their customers.

The Finnish Financial Supervisory Authority (FIN-FSA) is responsible for enforcing the RML. The FIN-FSA monitors the activities of financial market participants, conducts inspections, and investigates any suspected breaches of the law. In cases of serious violations, the FIN-FSA can impose fines or even revoke the license of a financial market participant.

The RML also includes provisions for the resolution of financial market participants in the event of financial distress. This is designed to prevent the failure of a financial market participant from having a systemic impact on the financial system. The law establishes a framework for the resolution of financial market participants, including the appointment of a resolution authority and the provision of financial assistance to ensure the orderly resolution of the financial market participant.

In summary, the Rahoitusmarkkinalaki is a comprehensive law that regulates the financial markets and financial services in Finland. It aims to protect investors, ensure the stability of the financial system, and promote fair competition. The law is enforced by the Finnish Financial Supervisory Authority, which monitors the activities of financial market participants and investigates any suspected breaches of the law. The RML also includes provisions for the resolution of financial market participants in the event of financial distress.