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Surveillance Helsinki

The Surveillance function within the Nasdaq Nordic has the primary goal of working to maintain confidence in the exchange amongst the general public. This is mainly achieved by means of a credible, professional and integrated surveillance of the trading and the listed companies and also by assuming surveillance responsibility for the listing of equities and other financial instruments.

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Listing Committee

The Listing Committee decides on the listing of companies. The Board of Directors of Nasdaq Helsinki appoints Listing Committee's members representing commercial and industrial life and securities markets.

Listing Committee

Henrik Husman, Managing Director of Nasdaq Helsinki (Chairman)
Eero Suomela, CPA auditor (Vice Chairman)
Annika Poutiainen, LLM  
Klaus Gronbärj, Managing Director
Jaakko Raulo, LLM
Susanna Tolppanen, LLM

Sari Suvanto serves as the secretary of the Listing Committee

The Disciplinary Committee at Nasdaq Helsinki

The Disciplinary Committee is the supreme body deciding on the consequences of Surveillance actions. The Disciplinary Committee consists of the following members:

Supreme Court Justice Mikko Tulokas (Chairman),
Professor Risto Nuolimaa (Deputy Chairman),
Counselor of Economics Simo-Pekka Helander (member),
Supreme Court Justice Tuula Pynnä (member),
Associate Professor Sami Torstila (member)

Chairman Mikko Tulokas has worked at the Supreme Court, Vice Chairman Risto Nuolimaa has worked at the University of Tampere. Simo-Pekka Helander works at Inwise Oy, Tuula Pynnä at Supreme Court and Sami Torstila at Aalto University School of Business.

The Disciplinary Committee has operated since 1994.


Rules concerning the appointment and relieving of the members of the Disciplinary Committee


The Board of Directors of Nasdaq Helsinki confirms the rules of the Disciplinary Committee. They also appoint the Chairman and the Vice Chairman of the Disciplinary Committee, who must each have served as a judge. The Board of Directors also appoints a minimum of two and a maximum of four other members from whom at least two is required to have proper understanding of the securities market. The members are appointed for terms of four (4) calendar years. The Board of directors can relieve a member of the Disciplinary Committee from his/her duties only for a particularly severe reason.

The FSA is reserved the right to an opinion about the suitability of the members of the Disciplinary Committee before they are appointed. The rules of legal disqualification apply to the members of the Disciplinary Committee.

Disciplinary procedures