Regulators

Finnish Financial Ombudsman Service (FINE)

FINE advises clients on insurance, banking and securities, etc.

Organization Profile

Institutional nature: FINE is a financial sector organisation comprising the Finnish Financial Supervisory Authority, the Insurance, Banking and Securities Complaints Commission, the sector executive committee and the board of directors.
Institutional History: FINE was established on 1 January 2009 by the Consumer Agency, the Financial Supervisory Authority and the Finnish Financial Services Federation, merging the operations of the former Consumer Insurance Agency, Insurance Complaints Board, Bank Customer Advisory Office and Securities Commission .
Institutional Objectives: FINE's objective is to advise clients, SMEs and related clients on insurance, banking and investment operations and to resolve related complaints.
Institutional Vision: FINE aims to safeguard the interests of customers in the financial industry and promote the healthy development of the financial industry. FINE also contributes to legislative preparations.
Scope of services: FINE's core scope includes advice, information and dispute resolution services, which include insurance, banking and securities advice. However, FINE does not provide investment advice, nor does it provide comparisons of personal actions or services. FINE's services are provided free of charge.

Complaint steps

1. Complaints
1. Contact the service provider first.
Before filing a complaint with FINE, please contact your service provider, such as the claims processor of the insurance company responsible for your case, a bank, an investment services firm or a mutual fund company, and ensure that the service provider has received all necessary information (document, photo or other description).
2. If negotiating with the service provider cannot solve your problem, you can contact FINE.
If these steps do not lead to the expected results, and the service provider's final decision is still unsatisfactory, for further remedies you can take, ask FINE for a recommended solution.
3. Request a solution proposal.
To get a resolution proposal, you will need to file a written complaint and sign it. You can submit a complaint or request information through the web contact form. Complaints should be clear and concise.
Complaints should include at least the following information:
1) The name and contact details of the complainant, including a telephone number during office hours
2) If a lawyer is employed, his/her contact details and power of attorney = complainant.
3) Details about the service provider (insurance company, bank, investment service company or mutual fund company)
4) Related products or services
5) Service-related content given by the service provider so far; such as insurance and claim numbers in insurance transactions
6) Designated Financial Claims
7) Publishing resolution proposals
8) FINE will issue a written solution proposal to the customer and service provider
The complaint must be accompanied by a copy of your case request document. Please do not send original printouts, receipts or invoices. FINE is not responsible for any compensation payments and therefore does not require these documents.
FINE will not intervene in cases that are pending or reviewed by the courts.
2. Review disputes:
Disputes are raised in FINE by complaints sent in writing or electronically. The customer should designate the counterparty's service provider. Issue a monetary claim, a statement of request, or other claim, with reasons.
The Complaints Committee follows a written procedure unless the Bureau or the Complaints Committee decides for a specific reason to hear a litigant or other party orally. Decisions made at the Complaints Committee meeting will be recorded.
The Complaints Committee may actively listen to or request expert opinion. The expert cannot be a person who has an employment relationship or a similar relationship with the service provider of the product under review, nor can he be a person under the Code of Judicial Procedure.
3. If the customer withdraws the complaint, the case will be cancelled.
The FINE Bureau and the Complaints Committee have the right to dismiss the dispute without review in the following cases:
1. The customer fails to seek a solution to the problem through direct contact with the service provider
2. In a banking or securities case, the complaint received by FINE is two years after the customer's final contact with the service provider
3. In an insurance case, the three-year time limit for filing a lawsuit under the Insurance Contracts Act, the time limit for receipt of a complaint at FINE has exceeded
4. The same dispute is being or has been reviewed by a court or the Consumer Complaints Commission, the Traffic Accident Commission or similar out-of-court dispute resolution body
5. The dispute does not involve monetary or other financial interests
6. The dispute is unfounded or is intended to harm intentionally
7. The nature of the dispute will seriously hinder the effective operation of FINE

Contact information

Email: [email protected]
Tel: +358 9 6850 120 (Monday to Thursday 10:00-16:00)
Fax: +358 9 6850 1220
Office address: Helsinki, Ruoholahti, Ilmarinen headquarters building.
Contact form: https://www.fine.fi/media/kartat-ja-lomakkeet/fine_yhteydenottolomake_en.pdf

Related Links

Finnish Consumer Disputes Board: http://www.kuluttajariita.fi/

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