Labour market activities FFI represents the interests of the financial services sector in matters of labour market policy. All concrete labour market activities are carried out by Service Sector Employers PALTA, with whom we have a cooperation agreement.FFI negotiates the collective agreement for banks, financial houses and card companies with Trade Union Pro, Nordea Union Finland Nousu and the Federation of Professional and Managerial Staff YTN. The collective agreement for the insurance sector is negotiated with the Union of Insurance Employees in Finland (VvL).Both collective agreements are generally binding, which means that all businesses operating in the industry must adhere to provisions such as minimum wages and general pay increases as they have been set in their sector's collective agreement.Collective agreements form the essential standard of labour legislation together with the Employment Contracts Act, Working Hours Act, Annual Holidays Act, Act on Co-operation within Undertakings, and occupational safety and health legislation. All FFI members adhere to the standard.The majority of our members are within the scope of FFI's labour market representation. These member companies employ a total of 38,000 persons.Finance Finland is a member of the Confederation of Finnish Industries EK. We are also in close co-operation with Nordic and European employers' organisations.