Source: www.finlex.fi
Topic: Investment Firm
Sort Desciption: A foreign investment firm shall also be governed by the provisions on the provision of ... fund referred to in the Act on Investment Firms, hereinafter the ...
Content Inside: Act on the Right of a Foreign Investment Firm to Provide Investment Services in Finland 26.7.1996/580 Unofficial translation, amendments up to 155/2007 included, in May 2007 CHAPTER 1 General provisions Section 1 Scope of application This Act shall apply to the right of a foreign investment firm to provide investment services in Finland on a professional basis. A foreign investment firm shall also be governed by the provisions on the provision of investment ser- vices on a professional basis and on the duties of a securities intermediary provided for in the Securi- ties Markets Act (495/1989). Section 2 Definitions In this Act: 1) a foreign investment firm shall refer to a natural or legal person which provides the service referred to in Council Directive (93/22/EEC) on the investment services in the securities field on a professional basis and which has been granted an authorization in another State than Finland corresponding to the authorization referred to in sections 9 and 16 of the Act on Investment Firms; 2) investment service shall refer to the service referred to in sections 3 and 16 of the Act on Invest- ment Firms; 3) freedom of establishment shall refer to the right of a foreign investment firm to establish in Finland a permanent place of business (a branch) from where it can provide investment services which are co- vered by its authorization; as well as 4) an agency shall refer to the permanent place of business in Finland of a foreign investment firm au- thorized in a State outside the European Economic Area from where it shall not be entitled to provide investment services. Section 3 Supervision The supervision of the activity of a foreign investment firm in Finland as well as the right of the Fi- nancial Supervision Authority to disclose information to a supervisory authority corresponding to the Financial Supervision Authority shall be governed by the Act on the Financial Supervision Authority (503/1993). CHAPTER 2 Freedom of establishment a ...
