Financial Supervision Authority switched to supervising prudential management and market conduct
As of June 1, 2005, the EFSA has changed its structure and organizes work based on prudential supervision and market conduct supervision.
"Prudential supervision focuses mainly on solvency and sustainability issues while market conduct supervision concerns transparency, reliability and effectiveness of financial services," explained Andres Trink, Chairman of the EFSA Management Board.
"We aim to improve the focus of the EFSA activities and synergy at regulating and supervising various sectors (banking, insurance, investment services)," added Trink.
Member of the Management Board Andres Kurgpõld will be in charge of prudential supervision divided into the Prudential Supervision Division headed by Priit Kiilmaa and the Prudential Policy and Financial Reporting Division headed by Helene Trusina.
Member of the Management Board Kaido Tropp is in charge of market conduct supervision split into the Market Supervision Division led by Kristjan-Erik Suurväli and the Financial Services Supervision by Andre Nõmm.
In addition, the EFSA has formed the Legal Department under Margus Normak as well as the Internal Services Department. The number of EFSA staff is not affected, remaining between 65 to 70 positions.
Please read more about the new work arrangement on the EFSA website: www.fi.ee > Financial supervision > Organisation.