Financial Supervision Authority
The Financial Supervision Authority is a financial supervision institution with autonomous competence and a separate budget which conducts supervision in the name of the state and is independent in its activities and decisions.
The Financial Supervision Authority conducts state supervision over the banks, insurance companies, insurance intermediaries, investment firms, management companies, investment and pension funds as well as the payment service providers, e-money institutions, small loan offices and securities market that have been authorised by the Financial Supervision Authority. The supervision authority of the domicile of a bank, an insurance company or an investment firm conducts primary supervision over the branches of the banks, insurance companies and investment firms operating in Estonia.
Objective of Financial Supervision
The objective of financial supervision is to help ensure the stability and quality of services of the companies providing financial services and thereby promote the reliability of the Estonian monetary system.
The main objective of supervision is to ensure that financial institutions are able to meet their obligations to the customers in the future - pay out deposits, insurance losses or pension contributions, etc. An important task of the Financial Supervision Authority is also to help increase the efficiency of the Estonian financial sector, avoid systemic risks, and prevent the abuse of the financial sector for criminal purposes. The work of the Authority also involves explanation of which are the risks for the customers and provide information and support to them in choosing financial services.