The preparation work and the development of preparedness in emergency conditions by the authorities and the finance sector for private companies will from now on be supervised by a statutory cooperation group for incident management in the financial sector.
Appointed by the Ministry of Finance, the cooperation group started work on 11 March 2024, and it is effective until further notice. The key target of the cooperation group is to support the authorities and private companies in the exchange of information and planning required in the preparation work by the financial market and the development of operational preparedness in emergency conditions.
The cooperation group includes various authorities and actors that are by law defined to have an obligation for preparedness, represented by a significant number of companies operating in the financial market.
The chair of the cooperation group will be appointed by the Ministry of Finance. The cooperation group has a secretariat consisting of representatives of the Ministry of Finance, the Bank of Finland, the Financial Supervisory Authority, and the Financial Stability Authority.
The cooperation group for incident management in the financial sector is provided for by the Act on Certain Backup and Emergency Arrangements in the Financial Sector (666/2022).
Further information is available on the website of the Ministry of Finance (in Finnish).
