The sector’s interest calls formoderation in regulation and taxation The financial sector is one of the most regulated and supervised sectors – as it should be. Trust is the key productive factor in the sector, and trust can be enhanced with appropriate regulation and supervision. Most of the regulation affecting the Finnish financial sector comes … Continued
Environmental awareness, especially climate awareness, has made a breakthrough in the financial sector. Investors are demanding more environmentally friendly ways to earn returns. In regulation, these matters are covered under the label of sustainable finance. The word ‘sustainable’ refers to sustainable development, i.e. the goals set by the UN to promote environmental protection, well-being in … Continued
Handling the rapid digitalisation of working life requires relevant and adaptable skills. But how to identify the right skills, and how to find and choose the right study module? Taking advantage of cutting edge intelligent digital services, we could develop an app that helps match those seeking education and training with those who provide it.
The beginning of 2020 seemed like a strong start for a new decade, a return of the “roaring twenties”. Financial forecasts looked promising, employment was on the rise, and climate change was taken seriously in politics as well as the corporate world. Expectations were high, and we had several good reasons to have a positive outlook for the future.
The past year has been a year of speculation in sustainable finance. We have been looking for interpretations of how the EU Disclosures Regulation obligates the providers, producers and sellers of investment services and products in practice. Unfortunately, the search has not yielded much results, and until the ESAs bring more clarity to the matter in early 2021, we can only continue to speculate. Originally, the EU technical standards were to be finalised by the end of 2020. The regulation enters implementation in March.
Although the looming Brexit deadline of 31 December will go by unnoticed by most Finns, it may have dramatic effects on permanent UK residents who use Finnish financial services. After the British exit from the European Union, Finnish financial sector entities must obtain a licence to provide services in the UK.
My job revolves around the big three elements of human resources, corporate responsibility and communications. If I had to sum it up in a single sentence, I would describe it as tireless work to promote responsible management and working culture, ethical operating policies and transparent communications. Short and sweet, but weighty – these themes contain the full colour spectrum of working life.
The European Commission’s Digital Finance Package draws outlines for financial sector digitalisation at the EU level, which is a very welcome development. The sector needs the rules to be long-lasting and equal for all companies. It is important that traditional financial companies and new entrants in the sector are regulated in the same way.
The work on a stronger and more integrated Capital Markets Union (CMU) in the EU has not progressed as much as many had earlier hoped. There are still substantial barriers hindering the movement of financial services and investments between member states. The barriers arise from only partially justified differences in member states’ national regulation and practices.
Payments are a key item on the EU Commission’s agenda. Finance Finland (FFI) appreciates the Commission’s Retail Payments Strategy with its aims of promoting a modern, digital and smooth retail payments market in Europe. Consumers and businesses must have access to a broad range of fast, easy and safe payment solutions.