Familiam Asset Management Fined EUR 70,000 for Reporting Omissions

FIN-FSA Press Releases

Filed March 25th, 2026

Detected March 26th, 2026

Summary

The Finnish Financial Supervisory Authority (FIN-FSA) has imposed a combined penalty of EUR 70,000 on Familiam Asset Management Oy for significant omissions in transaction and regular reporting. The company failed to report 2,867 transactions and missed quarterly supervisory reporting deadlines.

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What changed

The Financial Supervisory Authority (FIN-FSA) has issued a EUR 70,000 penalty against Familiam Asset Management Oy due to failures in reporting obligations. Specifically, the company omitted 2,867 transactions over a period of nearly two years (September 2021 to August 2023) and failed to submit quarterly supervisory information for three reference dates in 2024, with delays ranging from four days to two weeks. The FIN-FSA emphasized the critical importance of timely transaction reporting for market abuse supervision and confidence in securities markets, and regular reporting for its statutory duties.

While the decision is not yet legally binding and Familiam Asset Management Oy has 30 days to appeal to the Helsinki Administrative Court, this enforcement action highlights the severe consequences of reporting omissions. Compliance officers should review their firm's transaction and regular reporting processes, ensuring adherence to stipulated timelines and data accuracy. The FIN-FSA considered the company's acknowledgment of omissions as a mitigating factor, but the nature, extent, and duration of the failures led to the substantial penalty. Failure to comply with reporting requirements can lead to significant financial penalties and damage to market confidence.

What to do next

Review transaction reporting processes for completeness and timeliness.
Verify submission of all required quarterly supervisory information (FINREP and IF reporting frameworks).
Ensure adherence to all stipulated reporting deadlines to avoid penalties.

Penalties

EUR 70,000 combined penalty payment

Source document (simplified)

Publications and press releases
Press release 25 March 2026

Combined penalty payment of EUR 70 000 to Familiam Asset Management Oy for omissions in reporting

The Financial Supervisory Authority (FIN-FSA) has imposed a combined penalty payment of EUR 70 000 on Familiam Asset Management Oy for omissions in transaction reporting and regular reporting. Familiam Asset Management Oy had failed to report to the FIN-FSA within the stipulated time period of 8 September 2021 – 31 August 2023, i.e. for a period of almost two years, a total of 2,867 transactions.

Furthermore, the company failed to submit to the FIN-FSA within the stipulated time period the quarterly supervisory information required to be submitted on a regular basis under the FINREP and IF reporting frameworks, for three reference dates in 2024. Delays in the submission of supervisory information ranged from approximately four days and two weeks.

Transaction reporting is of key importance in the FIN-FSA’s supervision of market abuse and thus for safeguarding confidence in the securities markets. The timely submission of regularly reported supervisory information is, in turn, essential for the FIN-FSA to carry out its statutory supervisory duties.

A combined penalty payment, payable to the State, has been imposed on the company for several 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. Alongside other factors, the company’s acknowledgment of the omissions, i.e. cooperation with the FIN-FSA in investigating the matter, was taken into consideration as a mitigating factor in determining the amount of the combined penalty payment.

The FIN-FSA's decision is not yet legally binding. The company 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.