The founding members of the Securities Market Association are the Confederation of Finnish Industries, Finland Chamber of Commerce and Nasdaq Helsinki Ltd.
Listed companies can join as supporting members of the association. The Board of the association may also accept other companies and organisations operating in the association’s field of activity as Supporting Members.
By joining as a Supporting Member, a listed company fulfils the obligation of chapter 11, section 28 of the Securities Markets Act, according to which listed companies must, directly or indirectly, belong to an independent self-regulatory body established in Finland that broadly represents business life and has issued recommendations on the conduct of the target company’s management in a takeover bid The Securities Market Association is a self-regulatory body within the meaning of the Securities Markets Act.
Listed companies can meet the above obligation by becoming a Supporting Member of Securities Market Association and paying the annual Supporting Membership contribution. The association reports its Supporting Members to the Finnish Financial Supervisory Authority FIN-FSA based on paid Supporting Membership contributions. As such, Supporting Members do not need to submit a separate notification of valid supporting membership or its discontinuation to FIN-FSA.
