FI-Listed Companies

From the FIN-FSA e-service to a stock exchange release

Finnish investors read managers' deals in stock exchange releases titled Managers' transactions, which listed companies publish on Nasdaq Helsinki. Each release starts with a filing at the Financial Supervisory Authority (Finanssivalvonta, FIN-FSA). Under Article 19 of the EU Market Abuse Regulation (MAR), managers and persons closely associated with them notify the issuer and the FIN-FSA no later than three business days after the transaction. They file through the Manager's transactions form in the FIN-FSA e-services, online or by uploading an XML file.

FIN-FSA guidance puts publication on the issuer, which must release the information promptly and no later than two business days after it receives the notification.

A threshold kept at the EU default

Since 4 December 2024 the obligation applies once a person's transactions reach EUR 20,000 in a calendar year; the earlier figure was EUR 5,000. The Listing Act, Regulation (EU) 2024/2809, allowed each authority to pick EUR 10,000 or EUR 50,000 instead. In a release of 2 December 2024 the FIN-FSA said it saw no market conditions in Finland that would justify a change and kept EUR 20,000. The FIN-FSA counts a manager's trades and those of closely associated persons separately.

The 30-day closed period

Managers may not trade during the 30 days before the company announces an interim report or a year-end report. Since 4 December 2024 MAR also requires issuers to allow trades in that window that involve no active investment decision, such as trades caused by external factors or executed on predetermined terms. Nasdaq Helsinki updated its Guidelines for Insiders the same day.

Reading the Helsinki data here

Our Finnish data comes from Nasdaq Helsinki's company news feed, filtered on the Managers' Transactions category of the Main Market. The feed is per-trade, and Finland uses the euro, so amounts need no conversion. Cards link to the original release when the source provides one. Finnish and English job titles map to our buckets (CEO, CFO, board members, other executives), and the insider page shows the original title. The methodology page describes how we use these filings.