gc
nid 52516
Sep 21, 2026
arahman@vixio.com
Finland
Financial Supervisory Authority
financial services
89% of draft length
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1715 charsFinland's Financial Supervisory Authority Implements European Banking Authority Guidelines on Product Oversight
On September 23, 2026, Finland's Financial Supervisory Authority (FIN-FSA) announced its implementation of updated Guidelines on product oversight and governance arrangements for retail banking products issued by the European Banking Authority (EBA) on June 30, 2026.
The updated Guidelines (EBA/GL/2015/18) introduce clarified requirements for environmental, social and governance (ESG) features whenever offered and sold to consumers, and address greenwashing risks. The amendments aim to reduce the risk of consumers being misled or sold products that do not meet their needs. The Guidelines apply to retail banking products and establish governance arrangements that financial institutions must follow when developing, approving, and distributing such products to retail customers.
The FIN-FSA has confirmed its compliance with the Guidelines in accordance with Article 16(3) of the EBA Regulation (EU) No 1093/2010, which requires financial institutions to make every effort to comply with EBA Guidelines. The Guidelines will apply from January 11, 2027. Financial institutions operating in Finland must ensure their product oversight and governance arrangements align with the updated requirements by this effective date. This includes establishing appropriate procedures for assessing ESG-related claims and ensuring products marketed with ESG features are substantiated and do not constitute greenwashing. Institutions should review their current product governance frameworks and make necessary adjustments to comply with the new standards before the application date.
For further information, the FIN-FSA directs enquiries to Eetu Tulilahti, Legal Advisor, at +358 9 183 5093 or eetu.tulilahti@fiva.fi.
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1523 charsUnited Kingdom Gambling Commission Suspends Targetlocal Ltd Remote Operating Licence
On September 21, 2026, the Gambling Commission suspended the combined remote operating licence of Targetlocal Ltd, which operates as Ken Howell's Sports Betting and runs kenhowells.com.
The suspension follows Commission enquiries that revealed anti-money laundering (AML) failings by the operator. Targetlocal Ltd held an operating licence, which permitted it to offer casino, sports betting, and virtual event betting services online. The Commission is conducting a review of the licence under Section 116 of the Gambling Act 2005, and the suspension remains in effect until the Commission is satisfied the business demonstrates compliance with regulatory requirements. The suspension took effect immediately on September 21, 2026.
The Commission has instructed Targetlocal Ltd to treat consumers fairly during the suspension period and keep them fully informed of any developments affecting their accounts or services. The suspension does not prevent consumers from accessing their accounts or withdrawing funds. Consumers can contact the business through its website for further information.
The suspension applies only to Targetlocal Ltd's remote operations; its non-remote general betting standard licence remains unaffected. The enforcement action reflects the Commission's continued focus on AML compliance among licensed operators.
Operators facing similar regulatory scrutiny should review their AML procedures and controls to ensure they meet the Commission's standards and avoid potential enforcement action.