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In accordance with the decision of the Parliament:
This law shall apply to a business offering a payment service. The provisions of this Act on payment service and payment institutions shall also apply to the issuance of electronic money and to the electronic money community, unless otherwise specified below. (12/07/1998)
This law shall apply to the following payment services:
(1) a service to make a cash contribution to a payment account or to raise cash from a payment account, as well as operations related to the management and delivery of the payment account;
2) execution of a payment transaction in a payment service (190/2010) By means of a credit transfer, the transfer of funds to the payment account of the provider, direct debit or payment card or other means of payment;
3) the issuance of a payment instrument;
(4) transaction credit for a payment transaction;
(5) the service in which the provider receives funds from the payer without setting up a payment account in the name of the payer or of the payee, in which the sole purpose is to transfer the amount corresponding to the funds received on behalf of the payee or the payee; To another service provider or where the provider receives the funds on behalf of the payee and makes them available to the payee ( Money brokering );
(6) the execution of a payment transaction in such a way that the payer's consent to the execution of a payment transaction is made by a mobile phone or by a computer, or by another telecommunications terminal or by a computer device and the payment is made to such a telecommunications or An information technology system or network which operates only between the payment service user and the supplier of the goods, services or any other asset ( Payment service to be carried out by the technical assistance instrument ).
Article 40 of the Law applies to the Community and to a company which provides payment services within the meaning of Article 2 (1).
This law shall not apply to services offered by:
1) the law on credit institutions (10/2014) A credit institution; (88/2014/612)
2) State Treasury or other State authority, Province of Åland, Municipality, Municipal Association, other regional or local authority;
(3) Social Insurance Institution or other independent public body;
4) the European Central Bank, the Bank of Finland or any other ncb;
(5) an entity that has been granted a postal service (13/2001) The authorisation referred to;
(6) the Law of the State Financial Company; (443/1998) Within the meaning of the Law on the Company or the Industrial Cooperation Fund (991/1979) The intended company.
This law shall not apply to the following services either:
1) the money transport service;
(2) the service in which the payment transaction is made by the payee in the event of purchase of goods, services or any other commodity;
(3) a service based on instruments which may be used for the acquisition of goods, services or other goods only in the premises used by the issuer, or under an agreement with the issuer, either: In the case of a limited network of goods providers or the acquisition of certain goods;
(4) a service for cash withdrawals from the cash dispenser where the service provider acts on behalf of one or more of the payment card issuers, without being a party to a payment card transaction with a cash-withdrawing client, and not a service provider Provide other payment services.
Notwithstanding paragraph 1, the issue of electronic money issued by service providers referred to therein shall be subject to the provisions of Article 36a. (12/07/1998)
Postal services L 313/2001 Has been repealed by L 29.4.2011/4 .
This law shall not apply to the following payment transactions:
(1) the Law on Trade and Sales (17/1992) To negotiate or conclude a sale or purchase agreement relating to goods, services or other commodities, on behalf of the client of the trade representative or other equivalent representative;
(2) a payment transaction based on a paper check, an asete, a voucher, a voucher, a bond or a postal service, and the purpose of which is to make funds available to the payee;
(3) payment transactions in the payment system or securities settlement system between service providers and clearing members, central counterparty, clearing houses or central banks and other participants in the system;
(4) the managers of investment firms, credit institutions, ucits, management companies and alternative fund managers who provide investment services (747/2012) Chapter 1, Article 11 , and of any other undertaking referred to in paragraph 3, or any other undertaking which may store securities, asset management, redemption or sale of securities; (17/04/2013)
(5) payment transactions between the parent undertaking and its subsidiary, or the subsidiaries of the same parent undertaking, if the payment service intermediary belongs to the same group.
Compliance with this law and its provisions and regulations shall be subject to the supervision of financial supervision, as laid down in the law on financial supervision (878/2008) And this law provides.
For the purposes of this law:
(1) Payment service user The person who, on the basis of an agreement with the service provider, may use a payment service as a payer or a payee;
(2) Payment institution The company, the cooperative, the commandites company, the open company, the European Company Law (1742/2004) Or the European Cooperative Society (186/2006) , which is authorised to provide a payment service in accordance with this law;
2a) The electricity community A payment institution which is authorised under this law to issue electronic money; (12/07/1998)
(2b) An electronic money institution The electricity community and any other natural or legal person who issues electronic money; (12/07/1998)
(3) Payment system A rules-based system setting or implementing monetary obligations or transferring the margins of payment transactions; (12/07/1998)
(4) Payment account An account which may be used for payment transactions; (12/07/1998)
(5) Payment transaction The measure to transfer, increase or be made available; (12/07/1998)
(6) Funds Cash, credited money value and electronic money; (12/07/1998)
6a) With electronic money A monetary value that has been stored electronically or magnetically against the amount of money made available to the electronic money institution for the purpose of payment transactions, and has been committed by one or more undertakings to accept payment; (12/07/1998)
(7) The agent A natural or legal person providing a payment service on behalf of the payment institution; (12/07/1998)
(8) Group Group of companies forming part of the accounting law (136/1997) The parent undertaking, the subsidiary undertakings of the parent undertaking and the law on the supervision of the financial and insurance groups (699/2004) The participating undertakings referred to in paragraph 10; (12/07/1998)
(9) The Payment Services Directive Directive 2007 /64/EC of the European Parliament and of the Council amending Directives 97 /7/EC, 2002 /65/EC, 2005 /60/EC and 2006 /48/EC and repealing Directive 97 /5/EC. (12/07/1998)
Payment service shall only be provided if the activity is authorised under this law. The concession for the electronic money community must be explicitly authorised to issue electronic money. (12/07/1998)
The right of a foreign payment institution to provide payment services in Finland is governed by the Law on the operation of a foreign payment institution in Finland (298/2010) .
Notwithstanding Article 6, a natural person domiciled in Finland and a legal person whose head office is in Finland may provide a payment service other than the issuing of electronic money without authorisation provided for in this Article Conditions. (12/07/1998)
The payment service may be provided without authorisation where the average amount of payment transactions carried out by a legal person during the 12 months preceding the assessment has been averaged up to eur 3 million per month. A natural person may provide a payment service without authorisation if the sum of the payment transactions he has carried out has been, on average, up to eur 50 000 per month in the preceding 12 months.
The calculation of the total number of payment transactions shall also take into account payment transactions carried out by an agent acting on behalf of the payment service provider. In the event of a transaction, the total amount of payment transactions shall be assessed on the basis of the estimated total amount of payment transactions set out in the business plan, unless the financial supervision for a specific reason does not check the business plan.
The right to provide a payment service within the meaning of this Article shall not be provided if the person involved in the provision of the service or the natural person responsible for providing the service is not reliable within the meaning of Article 13, or if the payment service provider fails to comply with: The obligation laid down in the law on the prevention and detection of money laundering and terrorist financing (103/2008) . (12/07/1998)
The service provider referred to in this Article shall not be subject to the provisions of this Act, except in Articles 4 and 9, Article 10 (1) and (2), and Articles 16, 24 and 26 provide for payment institutions. Article 26, which provides for the protection of client assets, shall also apply to the service provider referred to in this Article, provided that this provides only services within the meaning of Article 9 (1). The service provider referred to in this Article shall not establish a branch or provide payment services to another State belonging to the European Economic Area.
Once the limit referred to in paragraph 2 is exceeded, the service provider must apply for a licence within 30 days, whether or not he/she complies with the law or ceases to operate.
Notwithstanding the provisions of Article 6, a natural person domiciled in Finland and a legal person whose head office is in Finland may issue electronic money without authorisation where, in accordance with Article 30a, The amount of electronic money does not exceed eur 5 million. If the amount of electronic money in circulation cannot be reliably calculated, it shall be assessed in accordance with Article 30a (4).
The electronic money institution referred to in this Article shall be subject to the provisions of Article 7 (3) to (6) on the provider of the payment service, Article 10 (2) granting credit for the provision of credit against the issuance of electronic money, 28 1. On the registration of electronic money transactions and Article 36a on the issuance and redemption of electronic money.
A person intending to provide a payment service as referred to in Article 7 or 7a without authorisation shall be notified to the Financial Supervisory Board. The notification shall include a business plan indicating the payment services to be provided and the scope of the intended operation, as well as a description of the natural persons involved in the provision of the payment service or equivalent. In addition, the service provider shall immediately inform the financial supervision of the cessation of activities, of significant changes to the extent of the activity, as well as of changes in the cases referred to in Article 7 (2) to (4) and Article 7a (1).
The financial supervision shall, within one month of receipt of the notification or, if the notification has been incomplete, where the notifier has provided the documents and reports necessary for the settlement of the case, the decision on whether or not The conditions for the exercise of the activity. Financial supervision shall immediately withdraw the decision if the activity no longer meets the conditions laid down in Article 7 (2) to (4) or Article 7a (1).
Payment services pursuant to Article 7 or 7a, without a concession, shall annually inform the financial supervision of the sum of the payment transactions they have undertaken. In addition, the financial supervision shall have the right to obtain other information necessary for the application of this Article from the service provider.
Financial supervision shall provide the necessary more detailed rules for the fulfilment of the reporting obligation laid down in this Article.
In addition to the payment services mentioned in the licence, the payment institution shall:
(1) provide ancillary services closely related to operational or payment services, such as exchange services; and
2) maintain and provide payment systems.
The payment institution may engage in other business activities, subject to Article 19 (2).
The payment institution shall only provide payment accounts which are used exclusively for the execution of payment transactions. The funds received from the payment service users of the payment institution shall not be deposits or other repayable funds within the meaning of the Act on the activity of credit institutions. (12/07/1998)
The payment service shall only issue credit-related credit if:
(1) is linked to the payment service referred to in Article 1 (2) to (4) or (6) and is granted only as part of the execution of the payment service in question;
(2) the credit is granted from funds received or retained for the execution of payment transactions; and
(3) In accordance with the terms of the contract, the credit shall be repaid within a maximum period of 12 months, provided that the payment institution provides credit for a branch or branch established in another European Economic Area without being set up in another An agent established in a State belonging to the Economic Area, or by an agent established in such a State.
The electronic money community shall not grant credit from the funds it has taken against the issuance of electronic money. (12/07/1998)
The financial supervision shall grant the authorisation of the payment institution upon application. The explanations to be attached to the application for authorisation are laid down by a decree of the Ministry of Finance.
The payment institution shall immediately inform the financial supervision of the facts and changes affecting the accuracy of the information provided in the licence application.
The application shall be settled within three months of receipt of the application or, if the application has been incomplete, when the applicant has provided the documents and explanations necessary for the purpose of the case.
The service shall include the payment services which the payment institution has the right to provide. Following the authorisation of the payment institution, the financial supervision may, upon application by the payment institution, amend the authorisation in respect of the services allowed to the payment institution.
If the decision on authorisation has not been adopted within the period laid down in paragraph 1, the applicant may lodge a complaint. The complaint shall be lodged and dealt with in the form of a complaint rejecting the application. A complaint may be lodged until the decision has been taken. Financial supervision shall inform the appeal authority if the decision is made after the appeal. The lodging and handling of a complaint referred to in this paragraph shall otherwise be governed by the law on administrative law (18/06/1996) .
Authorisation shall be granted if, on the basis of the report received, it can be ascertained that the owners and founders of the payment institution satisfy the requirements laid down in Article 13a and that the payment institution complies with the activities and financial position of the payment institution in this respect. Requirements laid down in law. Licence may be granted only to an applicant domiciled in Finland.
The holding, directly or indirectly, of at least 10 % of the share capital of the payment institution, the shares or the financial contribution of the payment institution or a holding which produces at least 10 % of its shares or units And the founder of the payment institution must be reliable.
The Trustee shall not be trusted to:
(1) during the preceding five years, a prison sentence or a financial penalty for a criminal offence which may be considered as proving to be manifestly inappropriate to set up or own a payment institution; Or
(2) By way of an otherwise earlier operation, it has shown that it is manifestly inappropriate to establish or own a payment institution.
However, if the judgment referred to in paragraph 2 (1) has not obtained the force of the law, the sentenced person may continue to exercise the authority of the payment institution in the payment institution if it is his or her previous activity, the circumstances leading to the judgment, and Other relevant factors as a whole are deemed to be manifestly well founded.
The authorisation shall also be granted in accordance with Council Regulation (EC) No 2157/2001 of the Council on the Statute for a European Company responsible in the European Economic Area (SE), hereinafter referred to as: European company statute , a European company which intends to transfer its registered office in accordance with Article 8 of the Regulation. Financial supervision shall request the opinion of the financial supervisory authority supervising the payment service market in that State on the request for authorisation. The same applies to the creation of a European company by a merger with a registered company incorporated in another State registered as a European company in Finland.
As regards the European Company, the provisions of this Article apply mutatis mutandis to Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society (SEC), hereinafter referred to as European cooperative regulation , the European Cooperative Society.
Financial supervision shall indicate the authorisation to be registered in the trade register.
At the same time as the company is registered, the authorised payment institution and the European Company Statute for the European Company and the European Cooperative Society shall be registered.
Financial supervision requires a public register of the payment institutions, their branches and agents and the persons referred to in Article 7 for the purpose of providing the payment service. Payment of payment institutions ). The register shall contain information on the services for which the payment institution is authorised. The register shall also indicate the full name, place of residence of the natural person and the address of the establishment where the activity is carried out. A legal person shall be entered in the register with its name, company or community symbol, registered office and address of the place of business where the activity is carried out. The register shall be available on the internet and shall be regularly updated.
The personal data contained in the payment institutions register shall be kept for as long as operations are carried out.
Subject to the conditions of the authorisation, the payment institution may start operations immediately after the authorisation has been granted and the payment institution has provided the information referred to in Article 2 (2) and, if the authorisation has been granted, The company being set up, the company is registered.
The payment institution shall not start operations until it has submitted to the Financial Supervisory Board:
(1) a full extract from the trade register of the payment institution, including statutes or rules; and
(2) the names of the members and alternates of the Board of Directors and of the Board of Directors, the Executive Director and the Executive Director, the responsible partner, the company man and the auditors and the deputy auditors.
The payment institution which carries out any other business within the meaning of Article 9 (2) shall also indicate the names of the persons responsible for the payment service activities.
The limitation of activities and the withdrawal of authorisation are laid down in Articles 26 and 27 of the Financial Supervisory Law. In addition, financial supervision may limit the activity or withdraw the authorisation of a payment institution if the payment institution continues to pose a threat to the stability of the payment system. Financial supervision shall indicate the withdrawal of authorisation to be registered.
The activities of the payment institution shall be organised in a reliable manner, taking into account the nature and extent of its business. The payment institution shall not take such a risk that it poses an essential risk to the solvency or liquidity of the payment institution. The payment institution shall have an effective management of risk management and adequate internal control over its activities and adequate risk management systems.
If, in addition to the provision of a payment service and other business activities, activities and risk management within the meaning of Article 9 (2), it is not otherwise possible to provide sufficient reliability, the financial supervision may limit the Conduct of business or require that the payment institution does not provide services other than those referred to in Article 9 (1) in addition to the payment service.
Financial supervision will provide for more detailed provisions for the implementation of the Payment Services Directive.
The payment institution shall keep records of the application for authorisation and related information for at least five years.
The payment institution shall not be significantly linked to a natural or legal person to which the applicable laws, regulations or administrative provisions of the non-European Economic Area prevent the payment institution effectively Supervision, or any other body, where a significant link is otherwise likely to prevent the effective supervision of the payment institution.
With a significant link Means the prudential requirements of credit institutions and investment firms and Regulation (EU) No 575/2013 of the European Parliament and of the Council amending Regulation (EU) No 648/2012 (hereinafter referred to as ' the The EU Solvency Regulation, The close relationship referred to in Article 4 (1) (38).
Any person intending to acquire, directly or indirectly, shares, shares or shares in a company's capital or company shall be informed in advance of the financial supervision if the acquisition of his shareholding:
(1) be at least 20 % of the share, share or basic capital of the electronic money community or the company's contribution;
2) would be so large that it would correspond to at least 20 % of the voting rights produced by all shares or units; or
(3) Otherwise, it would be justified to exercise comparable or otherwise significant influence over the management of the electronic money community as referred to in paragraph 2.
If the ownership referred to in paragraph 1 is to be increased in such a way that the acquisition would result in a shareholding of at least 30 % or 50 % of the shares, shares or basic capital of the electronic money entity, or the contribution or ownership of the entity, would correspond to the same proportion of all The amount of the voting rights produced by the shares or units or the electronic money entity would become a subsidiary, including prior notification to the Financial Supervisory Authority.
For the purpose of calculating the participation and the voting rate referred to in paragraphs 1 and 2, which shall apply to the securities market sector (746/2012) in Chapter 2, Article 4 And Section 4 to 7 of Chapter 9. However, such shares and units shall not be taken into account which, for a period of up to one year, have been acquired by the reporting agent in connection with the issuance of securities or under a market guarantee and under which the reporting obligation does not: Is not entitled to exercise voting rights in the Community or otherwise affect the activities of the Community's management.
The notification referred to in paragraphs 1 or 2 shall also be made if the number of shares or shares held is falling below the holding provided for in paragraphs 1 or 2 or the electronic money entity ceases to be a subsidiary undertaking.
The electronic money entity shall report to the financial supervision at least once a year the owners and the size of the holdings of holdings referred to in paragraphs 1 and 2, and shall notify any changes in the holdings which have become aware of it without delay.
The information to be annexed to the notifications referred to in this Article shall be governed by the Council Regulation.
The acquisition of a holding within the meaning of Article 21a is governed by Article 32a of the Financial Supervision Act and Article 32b of the prohibition decision.
The reporting obligation shall not acquire any shares or units within the meaning of Article 21a until the financial supervision has taken a decision or a decision as provided for in Article 32b of the Financial Supervision Act, as provided for in paragraph 1. , unless otherwise specified in the proceedings.
The payment institution shall have at least one permanent establishment for its activities. It may carry out its activities in other places of work.
The head office of the payment institution shall be in Finland.
The payment institution may outsource a significant activity from the point of view of the provision of the payment service if outsourcing does not materially undermine the internal control of the payment institution and the possibilities for supervision of the financial supervision.
The activity shall be significant for the operation of the payment institution if the error or lack thereof may significantly impair compliance with the laws of the payment institution, the provisions adopted pursuant to them or the conditions for the authorisation of the payment institution. Or the performance of the payment institution or the stability or continuity of the payment service provision.
The outsourcing of an activity which is significant for the payment service shall be subject to a written agreement showing the content of the mandate and the duration of the contract.
The payment institution shall act with care when it externalises the function of the provision of the payment service.
The payment institution shall inform the Financial Supervisory Authority in advance of the outsourcing of the relevant activity to the payment service. The payment institution shall ensure that it receives the necessary information necessary for the performance of the payment institution's regulatory oversight, risk management and internal control, and has the right to release it further Financial supervision. In addition, the payment institution shall ensure that the service provider informs the customer that it is responsible for the payment institution.
Financial supervision will provide for more detailed provisions for the implementation of the Payment Services Directive on the conditions under which the functionality can be outsourced.
The payment institution may provide payment services through an agent. The client acts on behalf of the payment institution and its responsibility. The issuance of electronic money shall not be wholly entrusted to the Ombudsman. (12/07/1998)
The payment institution shall, by means of available means, ensure that the agent is of good repute and sufficiently qualified to operate. The payment institution shall ensure that the agent informs the client that he operates on behalf of the payment institution.
The payment institution shall inform the financial supervision of the full name, residence and address of the natural person acting as agent in which the activity is carried out. Where the agent has legal personality, the Financial Supervisory Authority shall be informed of its name, company or entity identifier, domicile and address of the establishment where the activity is exercised. In addition, the payment institution shall identify the names of the persons responsible for the management of the agent and shall report on their reliability and suitability.
The payment institution shall inform the financial supervision of the internal control methods applied by the Ombudsman to fulfil the law on the prevention and detection of money laundering and terrorist financing (103/2008) And the obligations under it.
Financial supervision shall be entered in the register of payment institutions by the Ombudsman. Financial supervision may verify the information reported before registration of the agent if it has reason to suspect that the information is false. Financial supervision shall not register the agent if, upon completion of the verification, it is not satisfied that the information is accurate. The customer may not provide a payment service until it is entered in the register.
The government of the payment institution, the Executive Director and the other senior management must lead the payment institution in a professional manner and in accordance with sound and prudent business principles. The members and alternates of the Board of Directors, as well as the Deputy Managing Director and the Executive Director, as well as other senior management shall be reliable, shall not be bankrupt and shall not be subject to restrictions. They shall also have a general knowledge of payment service activities as is necessary in view of the nature and extent of the activity of the payment institution.
Paragraph 1, which provides for other senior management, shall be applied to a payment institution which carries out other business activities within the meaning of Article 9 (2), the payment institution's payment service activities.
The Trustee shall not be trusted to:
(1) during the previous five years of imprisonment or in the course of the preceding three years, a penalty for a criminal offence which may be considered as proving that he is manifestly unfit for membership of the government of a payment institution; or As an alternate member, Executive Director or Deputy Managing Director or other senior management; or
(2) By way of an otherwise earlier operation, it has shown that it is manifestly inappropriate for the task referred to in paragraph 1.
However, if the judgment referred to in paragraph 3 (1) has not been obtained by law, the sentenced person may continue to carry out the task referred to in paragraph 1, provided that it is his or her previous activity, the circumstances leading to the conviction and other relevant factors. As a whole, it is considered to be manifestly well founded.
A payment institution which, in addition to the provision of a payment service, carries out any other business within the meaning of Article 9 (2) shall be protected against payment service users or from another payment service provider as provided for in this Article. The funds received for the execution of payment transactions and the issuance of electronic money. If the funds made for the execution of the payment transaction exceed EUR 150, they shall be covered by the protection. However, the payment institution may agree with the consumer, other than the consumer, that the funds are covered only if they exceed EUR 600. What is provided for in this paragraph for the minimum amounts of funds covered by the protection shall not apply to the funds received against the issuance of electronic money.
The payment institution shall keep the assets referred to in paragraph 1 in such a way that there is no risk of mixing them with the funds of another payment service user, payment service provider or payment institution. The payment institution shall deposit the assets in an account with a central bank, a depository credit institution authorised in a depository or a credit institution authorised in another State, or in securities other than low-risk and easy money; or Other investments where the funds have not been made available to the payee or transferred to another payment service provider on the next working day following receipt of the funds. The funds to be credited to the electronic money community by the provider on the basis of the use of electronic money shall be deposited or invested in accordance with this paragraph as soon as the funds are available to the electronic money community, but at the latest on the fifth Working day on the issuance of electronic money. Financial supervision shall lay down provisions on when a security or other investment subject may be considered as low risk and easy to cash.
The payment institution may also protect the assets referred to in paragraph 1 in such a way that the funds received by the payment institution are paid by the payment institution at the time of the insolvency of the payment service to the users of an insurance company or credit institution which is not The payment institution to the same group, the granting of an insurance or guarantee.
The provisions of this Article shall also apply to the funds received by the payment institution for the execution of future payment transactions, when some of the assets are used for future payment transactions and part of the services other than payment services. This paragraph shall also apply where the proportion of funds for future payment transactions is variable or not known in advance and the share of the funds used for payment services can reasonably be estimated at the time of payment transactions Development. The determination of the amount of funds received for the issuance of electronic money shall be subject to the provisions of Article 30a.
The payment institution shall inform the financial supervision of any significant changes to the activities undertaken by the payment institution in order to comply with this Article.
The capital of the payment institution, the equity capital, the basic capital or the company contribution shall be at least:
(1) eur 20 000 if the payment institution provides exclusively financial intermediation;
(2) eur 50 000 if the payment institution provides a payment service under a technical device;
(3) eur 125 000 if the payment institution provides a payment service other than that referred to in paragraphs 1 and 2.
The share capital, equity, capital or company contribution of the electronic money community shall not be less than EUR 350 000. (12/07/1998)
The capital must be fully registered when the authorisation is granted. (12/07/1998)
The payment institution's own funds shall be subject to the provisions of the EU Solvency Regulation on the own funds of the credit institution. As regards the share and share capital, the said Regulation also applies to the financial contribution. (88/2014/612)
A payment institution which carries out other business activities within the meaning of Article 9 (2), the amount of own funds shall be deducted from the shares, the shares, the money-denominated assets and the capital loans corresponding to the contribution of the payment service to the payment institution. The turnover.
For the purposes of calculating and monitoring compliance with the requirements laid down in this Chapter, the payment institution shall, in a reliable manner, register electronic money, other payment services and services within the meaning of Article 9 (1) and (2) Transactions separately from each other group of commercial transactions, with their number and contribution to the total turnover of the payment institution and, in so far as commercial transactions relate to electronic money, the share of the electronic money in circulation The balance sheet total of the payment institution can be continuously monitored Accuracy. Financial supervision may provide further technical provisions for the registration of commercial transactions.
For the purposes of calculating the own funds of the payment institution, one of the methods referred to in this Article shall be used.
Consumption by a method of consumption Means a method whereby the own funds amount to at least 10 % of the fixed overhead costs of the previous year. If the payment institution has been operating for less than 12 months, own funds shall be at least 10 % of the fixed costs of the business plan. For specific reasons, financial supervision may require a review of the business plan.
By method of payment transaction Means a method where the amount of own funds is a proportional share of the total amount of payment transactions carried out by the payment institution in the previous year.
Amount method Means a method in which the amount of own funds is a proportional share of interest income, interest costs, commissions received and other actual activities. The amount shall be calculated every 12 months on the basis of the data from the previous financial year. The amount of own funds calculated using the summation method shall be equal to or greater than 80 % of the average of the preceding three financial years, or where the activity has not been carried out for such a long period of time.
Articles 5 to 6 are repealed by L 22.7.2011/899 .
In order to cover its risk, the payment institution shall have at least the amount of own funds calculated in accordance with the method approved by the Financial Supervisory Authority. However, the payment institution's own funds shall always amount to at least the minimum capital.
The payment institution shall have sufficient own funds vis-à-vis the total amount of credit granted. If the financial supervision considers that the own funds determined in accordance with paragraph 1 of the payment institution are not sufficient in relation to the risks related to the credit granted by it, and the adequacy of the payment institution's own funds in relation to the overall risk, Otherwise, the financial supervision may require a higher amount of own funds from the payment institution for a maximum of three years. However, financial supervision may not require a payment institution to exceed the amount of own funds as required by the credit institution to cover the risks referred to in Article 92 (3) (a) of the EU Solvency Regulation. (88/2014/612)
The financial supervision shall be approved by the payment institution for the calculation of own funds. Financial supervision may approve the method, provided that the method ensures the solvency and reliability of the payment institution. The payment institution shall not exchange the method for calculating own funds during a calendar year other than for a specific reason.
Paragraph 4 has been repealed by L 22.7.2011/899 .
In addition to the amount provided for in Article 30, the electronic money entity shall have at least an amount equal to 2 % of the average electronic money issued by the electronic money entity.
The average amount of electronic money in circulation as referred to in paragraph 1 shall be calculated over the preceding six calendar months at the end of each calendar day and shall be subject to the As an average.
The electronic money entity shall calculate the average amount referred to in paragraph 2 for each calendar month for the first working day of the month and shall notify it to the financial supervision. Financial supervision will provide more detailed provisions on the content of the reporting obligation.
If, without excessive costs, the electronic money entity cannot calculate the average amount of electronic money in circulation within the meaning of paragraph 2, the financial supervision may, upon application by the electronic money entity, authorise the determination of the electronic The amount of money carefully on the basis of estimated historical data. Financial supervision shall be authorised if the average amount of electronic money in circulation can be continuously assessed in a reliable manner. The amount of electronic money in circulation for the 12-month period following the issuance of the authorisation shall be assessed in accordance with the assessment of the business plan approved by the Financial Supervisory Authority, annexed to the licence application.
Articles 30 and 30a shall not apply to a payment institution which fulfils the conditions for a derogation from the minimum own funds set out in Article 7 of the EU Solvency Regulation. (88/2014/612)
For a maximum period of three years, the financial supervision may require a payment institution's own funds not exceeding 20 % higher than the amount calculated in accordance with Article 30 or 30a, if it is necessary for the risk management of the payment institution, On the basis of estimates of carrier capacity or methods of internal control. Similarly, financial supervision may reduce the amount of own funds required by a maximum of 20 % for a maximum period of three years.
The decree of the Ministry of Finance provides for the implementation of the psd in more detail on the methods used to calculate the own funds referred to in Article 29. Financial supervision shall be subject to the Payment Services Directive and to the taking up, pursuit and prudential supervision of the business of electronic money institutions, amending Directives 2005 /60/EC and 2006 /48/EC and Directive Further detailed provisions for the implementation of Directive 2009 /110/EC of the European Parliament and of the Council repealing Directive 2000 /46/EC, for the calculation of the minimum own resources referred to in Articles 29, 30, 30a and 31.
The payment institution shall, in its marketing, provide the customer with any information that may be relevant to the customer's performance of the service.
The payment institution shall not, in its marketing, give false or misleading information or use a procedure which is inappropriate or contrary to a good practice for the client. In addition, a consumer-friendly or anti-competitive procedure is provided for in the consumer protection law (38/1978) in Chapter 2 .
Marketing that does not contain information necessary for the financial security of the customer must always be considered to be unfair.
The payment institution shall not, in its payment service activities, use a contractual condition which is not part of the payment service activity or which is subject to its content, the status of the parties or the circumstances of the parties, shall be regarded as disproportionate to the client. An unfair contract condition shall be maintained whenever the acquisition or use of non-payment goods, services or other goods as a client as a whole does not affect the validity of the contract; or Other conditions of the contract, or if the right of the client to enter into contractual relations with the other trader is restricted.
The payment institution shall provide the conditions of the standard contracts for financial supervision in payment services.
A disabled person may itself conclude an agreement with a payment institution for a payment account of the funds for which the guardian of the (442/1999) (1) or otherwise have the right to impose, and to make cash deposits in a payment account and cash withdrawals from the payment account and, as such, to impose a payment account. However, the guardian may, with the agreement of the custody authority, take over the funds in the balance of payments in the event of the incapacity of the debtor.
If a payment account in the name of a disabled person aged 15 years has been provided on condition that only he/she himself has the right to raise funds, the funds available on the payment account shall be determined by a disabled person and his trustees together. However, it may be waived by the Court of Justice.
Ten years after the end of the calendar year during which the payment account was last used, the payment institution shall cease to be obliged to pay interest to the funds, subject to the accounting conditions.
The payment institution shall not be entitled to offset any amount of money which is payable on a private person's balance of payments or which is not legally enforceable under the law. Prior to the receipt, the payment institution shall verify the forecluse of the funds. The recording requirement shall be notified to the account holder. The anti-discrimination clause is invalid.
However, where it is not possible to ascertain whether the assets are outmoded without undue effort, the payment institution may require an offsetting if it notifies the account holder in writing of the provisions of paragraph 1 in writing The restriction of the right to sign and the cancellation of the receipt provided for in this paragraph. The receipt shall be cancelled if the account holder, within 14 days of the acknowledgement of receipt, has received a report stating that the assets are not eligible. In the absence of any other explanation from the date of receipt of the claim, it shall be deemed to have entered the account of the account holder on the seventh day of dispatch of the notice of request. If the account holder is not provided with the information provided for in this paragraph, the signature shall be void.
Paragraph 1 shall not apply to charges based on the explicit authorisation of the account holder. The account holder of such a mandate may be withdrawn at any time. Any other agreement which reduces the rights of the account holder under this Article shall be null and void.
Electronic money may be issued and redeemed only in nominal value.
The funds received for the issuance of electronic money shall be converted into electronic money immediately.
No interest or any other benefit related to the duration of the holding of electronic money shall not be paid to electronic money.
The electronic money institution shall be obliged to claim the electronic money held by the holder of the electronic money, if the holder requires redemption during the contract or at the latest one year after the termination of the contract. If the requirement is made during the contract, or if electronic money can also be used for payment that does not fall within the scope of the law, it is not known in advance what proportion of the electronic money is used for such payment, The holder may also require the issuer to claim only the share required by the holder for the electronic money held by it.
The agreement between the electronic money issuer and the electronic money holder shall indicate clearly and easily the conditions for redemption and any fees that may be charged for redemption. The conditions shall be notified to the electronic money holder prior to the conclusion of the contract.
A fee may be charged only if it is shown in accordance with Article 5 (5), and only in the following cases:
(1) redemption has been requested prior to the termination of the contract;
(2) the date of expiry of the contract and the conclusion of the contract by the holder of the electronic money before that date;
(3) redemption is requested more than one year after the termination of the contract.
Any contractual clause which deviates from the provisions of this Article to the detriment of the holder of the electronic money shall be negligible for the consumer.
As a member of a payment institution or a company belonging to the same group, as a member or a member of an institution or of an institution of an undertaking acting on behalf of a payment institution or of another undertaking, or on their behalf, In the performance of the payment institution or with the payment institution or any other person or other person connected with the activity of the client or any other person connected with its activities, or Professional secrecy shall be obliged to keep it a secret unless it is good for Confidentiality is provided, give its consent to express it. Information held in secret shall not be disclosed to the general meeting, to the meeting of the cooperative or to the shareholder or to the shareholder or member of the meeting.
Notwithstanding the obligation of professional secrecy, the payment institution and the company belonging to the same group shall, notwithstanding the obligation of professional secrecy, provide the information referred to in paragraph 1 to the prosecutor and pre-trial authority to investigate the offence; and Any other authority empowered to obtain such information under the law.
What co-operative law (421/2013) in Chapter 7, Section 14 , does not apply to the payment institution or to any undertaking belonging to the same group. (14/03/2013)
With and with the payment institution, the Law or Investment Services Act of the same credit institution (18/07/2012) Shall, notwithstanding the obligation of professional secrecy, have the right to provide the information referred to in Article 37 of this Law to the same group, the consolidating group or financial and insurance groups; To the community of financial and insurance groups within the meaning of the Law on supervision, the management of customer service and other customer relations, marketing and risk management of the group, consolidation team or financial and insurance group; , where the addressee of the information is covered by this law Or equivalent professional secrecy. What is provided for in this article for the transmission of information does not apply to the (523/1999) Article 11 , nor any information based on the registration of payment data between a client and a non-conglomerate. (14.12.2012/764)
In addition to the provisions of paragraph 1, a payment institution and a company belonging to a payment institution in the same consolidation group may surrender the marketing, customer service and other client relationship in their customer registry Necessary information for a Community which is part of the same economic association with the payment institution if the recipient of the information is covered by the obligation of professional secrecy provided for by this law or equivalent. The provision of information concerning the transmission of information does not concern the disclosure of sensitive information as referred to in Article 11 of the Personal Data Act.
The payment institution must know its customers. The payment institution shall identify the client's actual beneficiary and the person acting on behalf of the client and, where appropriate, verify the identity of the client. When completing the obligation laid down in this paragraph, the systems referred to in paragraph 2 may be used. (88/2014/612)
The payment institution shall have adequate risk management systems to assess the risks arising from its clients.
In addition, the customer's knowledge is in force as laid down in the law on the prevention and detection of money laundering and terrorist financing.
Financial supervision may provide more detailed provisions on the procedures to be followed in the knowledge of the customer referred to in paragraph 1 and the risk management referred to in paragraph 2.
The payment system operator shall not impose undue, disproportionate or discriminatory requirements on the payment service provider's contribution to the payment system. The requirements to ensure protection against risks and to ensure financial and operational stability of the payment system must be necessary and reasonable.
The rules of the payment system shall not restrict the participation of payment service providers, payment service users or other payment systems in other payment systems. The rights, obligations, advantages or limitations of participation in the payment system shall not be based on the legal form or status of payment service providers, payment service users or other payment systems.
Paragraph 40 shall not apply to:
(1) a payment system named in accordance with the provisions of the law on certain securities and foreign exchange transactions and the settlement system (194/1999) Pursuant to
(2) a payment system to which service providers belonging exclusively to the same group may participate, provided that the level of own funds of the service providers is determined at the level of the group;
(3) a payment system in which one payment service provider may act as a payment service provider for both the payer and the payee, is responsible for the management of the payment system and provides other payment service providers with access to the payment system and where other Payment service providers are not entitled to consult each other on fees related to the payment system.
The payment institution must ensure that its tasks are performed as smoothly as possible, including in exceptional circumstances, by taking part in the contingency planning of the financial markets and preparing in advance in exceptional circumstances and by other measures.
Paragraph 1, which provides for a payment institution, shall apply mutatis mutandis to a branch of a foreign payment institution in Finland.
Where the tasks arising from Article 41a require measures which are clearly different from the activities of the payment institution which are deemed to be normal and which entail substantial additional costs, such costs may be substituted for maintenance The law on security (1390/1992) From the Guarantee Fund.
The payment institution which intends to set up a branch in another country belonging to the European Economic Area shall inform the Financial Supervisory Authority in advance. The notification shall include information on the State in whose territory the branch is to be established, information on the payment services to be provided, the organisational structure of the branch and the use of the agent and the persons responsible for the activities of the branch. Names.
The financial supervision shall, within one month of receipt of the notification referred to in paragraph 1, indicate the establishment of a branch to the supervisory authority responsible for financial supervision of the State concerned and shall be annexed to the notification under paragraph 1. Information referred to. Financial supervision shall refuse to report if it finds that the establishment of a branch does not meet the financial and administrative conditions of the payment institution, taking into account the conditions for the establishment of a branch. A branch shall not be established if the financial supervision refuses to report.
Where the payment institution intends to use an agent established in another country belonging to the European Economic Area, the provisions of Article 42 shall apply mutatis mutandis to the Ombudsman.
The payment institution which intends to establish a branch in a non-European member state shall apply for authorisation from the Financial Supervisory Authority. The authorisation shall be granted where there is sufficient control of the branch and if, in view of the administrative and financial situation of the payment institution, the establishment of a branch is not liable to jeopardise the activity of the payment institution. Financial supervision shall have the right, in consultation with the applicant, to impose restrictions and conditions necessary for the operation of the branch.
The explanations to be attached to the licence application shall be governed by a decree of the Ministry of Finance.
A payment institution which intends to provide payment services in the territory of another Member State of the European Economic Area without a branch shall be informed in advance of the financial supervision which it intends to provide.
The financial supervision shall, within one month of receipt of the notification, inform the supervisory authority of the State referred to in paragraph 1 of the payment institution's name, address, organisational structure, names of the persons responsible for the management of the payment institution. And the services which the payment institution intends to provide.
If the payment institution intends to transfer its place of residence to another country within the European Economic Area, as provided for in Article 8 of the European Companies Regulation or Article 7 of the SCE Regulation, the payment institution shall send to the Financial Supervisory Authority: A copy of the transfer plan and report referred to in Article 8 (2) and (3) of the European Company Regulation or Article 7 (2) and (3) of the SCE Regulation, without delay after notification by the payment institution of the plan to be registered.
If the payment institution intends to continue the payment service activity in Finland after the transfer of the place of residence, it shall be subject to the provisions of the foreign payment institution in Finland.
The registry authority shall not issue a certificate within the meaning of Article 9 (5) of the European Company Statute or Article 9 (5) of the Statute of the European Cooperative Society if the financial supervision has been notified to the registry authority before the European Company Law Article 9 (2); or The granting of an authorisation referred to in Article 9 (3) of the Act on European Cooperative Society, that the payment institution has not complied with the provisions relating to the transfer of the place of origin, continuation or cessation of activities in Finland. The certificate may be issued before a month has elapsed since Article 16 (6) of Chapter 16 (2) or from the date referred to in Article 6 (2) of Chapter 20 of the Cooperative Act only if the financial supervision has indicated that it does not object to the transfer of the seat. (14/03/2013)
Where a payment institution which is a European company or a limited liability company participates in a cross-border merger or cross-border distribution within the European Economic Area, the registry authority shall not issue Article 4 (3) of the European Company Statute for such a merger Or of the certificate referred to in Article 26 (26) of Chapter 16 of the Companies Act, if the financial supervision has notified the registry authority before granting the authorisation that the payment institution has failed to comply with the merger; The distribution or continuation or operation of activities in Finland The provisions on termination. The permit may be issued before a month has elapsed from the date referred to in Article 6 (2) or Article 6 (2) of Chapter 17 of the Companies Act only if the financial supervision has indicated that it does not object to the merger, division or The transfer of the seat related to the creation of a European company.
If the payment institution, which is a cooperative society or a cooperative society, is involved in a cross-border merger or cross-border distribution within the European Economic Area, the registration authority shall not issue a European Cooperative Society Act 4 § 3 or Article 27 of Chapter 20 of the Cooperative Act, if, prior to the granting of an authorisation, the financial supervision has notified the Authority that the payment institution has not complied with the The merger, division or continuation of activities in Finland; or Provisions concerning the cessation of activities. The permit may be issued before a month has elapsed from the date referred to in Article 6 (2) or Article 6 (2) of Chapter 21 of the Cooperative Act only if the financial supervision has indicated that it does not object to the merger, division or The transfer of the seat of the European Cooperative Society. (14/03/2013)
If a receiving company or cooperative is to be registered in another country after the merger will continue to provide a payment service in Finland, the company and the cooperative will be subject to what is a foreign payment institution's right to provide a payment service in Finland Provides.
Any damage caused by a procedure contrary to this law or by any provisions adopted under it shall be liable to compensate the injured party.
As regards the settlement of damages and the division of liability between two or more liable parties, the (1999) Chapters 2 and 6 provide.
The provisions referred to in Article 40 of the Law on Financial Supervision, which are subject to a penalty payment to the payment institution, the electronic money entity or a foreign payment institution, are:
1) Article 10 on the granting of credit;
(2) Article 19 on risk management and other organisational arrangements;
(3) Article 26 on the protection and preservation of client assets;
(4) Article 27 of the minimum capital;
5) Paragraph 32 (2) of the prohibition on the marketing of a payment service with false or misleading information.
In addition to the provisions laid down in paragraph 1, the provisions referred to in Article 40 of the Financial Supervision Act are also subject to more detailed provisions and provisions concerning the provisions referred to in paragraphs 1 to 5, and payment services in the internal market, Directive 2007 /64/EC of the European Parliament and of the Council amending Directives 97 /7/EC, 2002 /65/EC, 2005 /60/EC and 2006 /48/EC and repealing Directive 97 /5/EC and the business of electronic money institutions, Exercise and prudential supervision, The provisions of the European Commission Decisions adopted pursuant to Directive 2009 /110/EC of the European Parliament and of the Council amending Directives 2005 /60/EC and 2006 /48/EC and repealing Directive 2000 /46/EC.
Anyone who deliberately provides a payment service in breach of Article 6 without a licence or a decision within the meaning of Article 8 (2) must be condemned, if the act is not minor or otherwise sanctioned by law, Payment for the payment of a payment Fine or imprisonment for a period not exceeding six months.
An agent who provides a payment service in breach of Article 24 (5) shall also be convicted of a payment service before being entered in the register.
The penalty for issuing false certificates to the authority is laid down in criminal law (39/1889) Article 16 (8) .
Penalty for breach of the obligation of professional secrecy laid down in Article 37 Chapter 38 of the Criminal Code In accordance with Articles 1 and 2, unless the law provides for a more severe penalty.
This Act shall enter into force on 1 May 2010.
Before the law enters into force, measures may be taken to implement the law.
Financial supervision shall be issued without an application to a legal person authorised by this law to a legal person who, at the time of entry into force of this Act, is authorised in accordance with the Law on the operation of a credit institution, but which does not issue Electronic money. Financial supervision shall inform the payment business entity of the authorisation before it is granted.
A legal person who, at the time of entry into force of this Act, provides payment services without the authorisation of a payment business entity, shall apply for an authorisation under this law from the Financial Supervisory Authority no later than 31 March 2011 or to cease providing a payment service. The period provided for in this paragraph shall also apply to the Ombudsman of the legal person.
Upon the entry into force of this Act, this law shall apply to the examination of an application for the authorisation of a payment business entity.
The financial institution referred to in the Law on the operation of credit institutions which, when the law enters into force, provides payment services and which is part of a consolidated supervision of its parent credit institution, shall be authorised if it provides: Financial supervision information which, pursuant to Article 11 of this Act and the Regulation adopted pursuant thereto, must be included in the licence application and the financial institution satisfies the requirements laid down in this Act.
Any natural or legal person who has commenced the provision of payment services within the meaning of this Act before the entry into force of this Act and which fulfils the conditions referred to in Article 7 shall apply by 31 October 2012 at the latest Financial supervision of the decision referred to in Article 8 or an end to the provision of a payment service.
Pursuant to Article 52 (2), monetary intermediation may be provided only if the person referred to in Article 13 (2) and Article 52 (5) of the service provider only if the person responsible for the provision of the service or the natural person involved in the provision of the service is In the manner provided for in the article.
Within two months of the entry into force of this Act, the person who provides a payment service without authorisation shall, within two months of the date of entry into force of this Act, notify the financial supervision if the provider intends to continue to provide payment service in accordance with Article 52 (2) or (5). Basis. The notification shall include the information referred to in Article 16 (1). The notification need not be made if the service provider has applied for an authorisation or a decision within the meaning of Article 8. Any modification of the notified information or the termination of the payment service provision shall be notified without delay to the Financial Supervisory Board.
Financial supervision constitutes a separate register of service providers referred to in paragraph 1. The marking shall be carried out in such a way that the service providers referred to in this Article are clearly distinguished from the service providers registered under Article 16.
THEY 172/2009 , TaVM 5/2010 EV 39/2010This Act shall enter into force on 1 August 2011.
Financial supervision shall be granted without an application to the legal entity authorised by this Act to the legal person who enters into force in accordance with the Law on the operation of the credit institution in accordance with the Law on the operation of credit institutions. Financial supervision shall inform the electronic money entity of the authorisation before the authorisation enters into force. Financial supervision may take the necessary measures to grant authorisation before the law enters into force.
Until 31 October 2012, the company which, when the law enters into force, carries on the business of issuing electronic money shall not, notwithstanding this law, issue electronic money in accordance with the provisions of this law Provisions.
THEY 2/2011 , TaVM 1/2011, EV 3/2011, Directive 2009 /110/EC of the European Parliament and of the Council (32009L0110) OJ L 267, 10.10.2009, p. 7-17
This Act shall enter into force on 1 January 2013.
THEY 32/2012 , TaVM 11/2012, EV 117/2012
This Act shall enter into force on 15 April 2013.
THEY 4/2013 , TaVM 5/2013, EV 30/2013, Regulation (EU) No 260/2012 of the European Parliament and of the Council (32012R0260); OJ L 94, 30.3.2012, p. 22-37
This Act shall enter into force on 1 January 2014.
THEY 185/2012 , TaVM 6/2013, EV 48/2013
This Act shall enter into force on 15 March 2014.
THEY 94/2013 , TaVM 38/2013, PeVL 43/2013, EV 4/2014, Directive 2011 /61/eu of the European Parliament and of the Council; (32011L0061); OJ L 174, 1.7.2011, p. 1
This Act shall enter into force on 15 August 2014.
THEY 39/2014 , TaVM 6/2014, EV 62/2014, Directive 2013 /36/EU of the European Parliament and of the Council (32013L0036); OJ L 176, 27.6.2013, p. 338-436 Regulation (EU) No 575/2013 of the European Parliament and of the Council (32013R0575); OJ L 176, 27.6.2013, p. 1-337
