15.5.2026 13:07:00 EEST | Finanssivalvonta | Investor News

Press release 15 May 2026 

The Financial Supervisory Authority (FIN-FSA) has imposed a combined penalty payment of EUR 400,000 on Oma Savings Bank Plc. The bank failed to draw up insider lists at a time when, at the latest, it had inside information in its possession. The bank also failed to update insider lists promptly after individuals ceased to have access to inside information. Furthermore, the bank’s insider lists did not contain all the information required under the regulatory provisions. 

On 3 May 2024, the FIN-FSA announced that it had filed a criminal investigation request to the police concerning suspected securities market offences related to Oma Savings Bank Plc. The FIN-FSA stated that, at the same time, it was examining the need to impose administrative sanctions on the bank. The bank’s omissions related, firstly, to inside information disclosed on 23 June 2021 about the bank and Cognizant agreeing to terminate the contract for the core banking project and Cognizant paying considerable financial compensation to the bank. Secondly, the omissions concerned inside information disclosed on 13 May 2022 regarding merger negotiations with Liedon Savings Bank. 

The obligation to draw up an insider list and to update it is based on the EU’s Market Abuse Regulation. In addition to what is set out in this Regulation, provisions on the content requirements for insider lists are laid down in the Commission Implementing Regulation. The purpose of insider lists is to serve as an important tool for supervisory authorities in investigating potential market abuse and as a tool for the issuer’s own internal control.

A combined penalty payment, payable to the state, was imposed on the bank for the omissions. The amount of the combined penalty payment was based on a comprehensive assessment, which took account especially of the nature, extent and duration of the omissions. The bank’s measures to prevent a recurrence of the omissions and the partial admission of the omissions, that is, the bank’s cooperation with the FIN-FSA in resolving the matter, were taken into consideration as factors mitigating the amount of the combined penalty payment. 

The FIN-FSA’s decision is not yet legally binding. The bank has the right to appeal the decision to the Helsinki Administrative Court within 30 days of receipt of notice of the decision. Information on the legal validity of the decision is available on the FIN-FSA website.

For further information, please contact:

Janne Häyrynen, Head of Unit, Legal. Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, Mon–Fri 9:00–16:00.

Appendix

Decision of the Financial Supervisory Authority (PDF, in Finnish)

See also 

• Insider lists
• Administrative sanctions
• Supervisory measures

Contacts

• Media phone service number, +358 9 183 5030

About Finanssivalvonta

Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland’s financial and insurance sectors. The entities supervised by the authority include banks, insurance and pension companies as well as other companies operating in the insurance sector, investment firms, fund management companies and the Helsinki Stock Exchange. We foster financial stability and confidence in the financial markets and enhance protection for customers, investors and the insured.

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