The Finnish Financial Supervisory Authority prolongs fixed term permit granted to Taaleri Plc to not deduct insurance holdings from the consolidated common equity Tier 1 capital

TAALERI PLC STOCK EXCHANGE RELEASE 5 JUNE 2020 AT 14.00 EET

The Finnish Financial Supervisory Authority prolongs fixed term permit granted to Taaleri Plc to not deduct insurance holdings from the consolidated common equity Tier 1 capital

The Finnish Financial Supervisory Authority has on 4 June 2020 decided to prolong the permission given to Taaleri Plc, pursuant to Article 49 (1) of the EU Capital Requirements Regulation (EU) 575/2013 (CRR), until 25 June 2021. The previous fixed term permit was valid until 31 December 2020 and was granted to Taaleri Plc 31 January 2019.

The permission granted by the Finnish Financial Supervision Authority on 31 January 2019 was related to the reform of the capital requirements framework for investment firms that was pending in the European Union at that time and the understanding of the date of application of that new framework. The new framework was originally scheduled to come into effect on 31 December 2020, but the date has since been confirmed to 26 June 2021.

The permission entitles Taaleri Plc to not deduct the investments in the own funds instruments of Garantia Insurance Company Limited from the consolidated common equity Tier 1 capital (CET1) of the investment services firm, as Garantia is part of Taaleri Plc's financing and insurance conglomerate supervised by the Financial Supervisory Authority. Instead of deduction, investments in insurance company should be risk-weighted in accordance with CRR Article 49 (4).

Taaleri Plc.

Communications

For additional information:

CFO Minna Smedsten, Taaleri Plc, tel. 38,

Taaleri in brief

Taaleri is a Finnish financial services company, whose parent company, Taaleri Plc, is listed on Nasdaq Helsinki main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.  

At the end 2019, Taaleri had assets under management totalling EUR 7.1 billion and 5,500 wealth management customers. Taaleri Plc has some 4,700 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.

More information about our company and services: 

Sophie Jolly, Head of Communications and IR, tel. 7,