Financial Supervision Authority (FI)

Basic Information

The Estonian Financial Supervision Authority (Finantsinspektsioon, FI) is an autonomous financial regulatory body operating under the authority of the Republic of Estonia. Established in 2002, FI ensures the stability, transparency, and integrity of Estonia’s financial sector while protecting consumer interests. Headquartered at Sakala 4, Tallinn, it operates independently with a self-funded budget derived from supervision fees paid by regulated entities.

Historical Background

FI was founded through the Financial Supervision Authority Act passed in 2001, consolidating financial oversight previously fragmented across multiple agencies. The reform aimed to address rapid growth in non-banking financial services and align Estonia’s regulatory framework with EU standards. Since 2014, FI has participated in the European Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM), enhancing its role in cross-border banking supervision and crisis resolution.

Legal Authority and Regulatory Framework

FI derives its authority from national legislation, including the Financial Supervision Authority Act, Credit Institutions Act, Insurance Activities Act, and Securities Market Act. It enforces EU directives such as the Markets in Financial Instruments Directive (MiFID II) and Anti-Money Laundering (AML) regulations. FI collaborates with the European Banking Authority (EBA), European Securities and Markets Authority (ESMA), and the Single Resolution Board (SRB) to ensure compliance with pan-European financial standards.

Core Responsibilities and Regulatory Scope

FI supervises a broad range of financial entities, including banks, insurance companies, investment firms, pension funds, payment institutions, e-money providers, and crypto-asset service providers. Key responsibilities include:

• Licensing and authorizing financial service providers.
• Monitoring capital adequacy, risk management, and governance practices.
• Enforcing AML/CFT regulations and investigating financial misconduct.
• Resolving financial crises to protect depositors and maintain systemic stability.
• Promoting market transparency and consumer protection through investor education and public disclosures.

Contact Information

Address: Sakala 4, 15030 Tallinn, Estonia
Phone: +372 668 0500
Email: [email protected]
Website: https://www.fi.ee/en

Verification of Regulated Entities

To confirm if an entity is supervised by FI:

1. Visit the FI website’s Registers section.
2. Search using the entity’s name or registration code.
3. Cross-check licensing details in the Public List of Authorized Entities under relevant categories (e.g., banks, insurers, crypto-asset providers).