Oversight of pawnbrokers

We keep a register of licensed pawnbrokers and make sure that they satisfy the licensing criteria. We also enforce pawnbrokers’ compliance with the Finnish Pawnbrokers Act. Pawnbrokers have a legal obligation to conduct their business in a professional, trustworthy, healthy and cautious manner. 

Unlawful conduct by pawnbrokers can be reported to the nearest Regional State Administrative Agency.

Asset Publisher

The competent Regional State Administrative Agency can revoke a pawnbroker’s licence if

  • the pawnbroker is found to have seriously broken the applicable laws, decrees or regulations or if they no longer satisfy the licensing criteria,
  • the pawnbroker has not engaged in business for more than six months,
  • 12 months have passed since the licence was issued and the pawnbroker has still not begun trading,
  • the pawnbroker is found to have provided false information in their licence application, or
  • the pawnbroker has decided to discontinue their operation.

We can order pawnbrokers to discontinue their business in a certain way. We will also notify the registration authority.

If revoking a licence would be unreasonably harsh considering the circumstances, we can give the licence holder a written warning instead.

No. Pawnbrokers may only be involved in pawnbroking and other closely related activities. 

Pawnbrokers may hold shares and interests in

  • other pawnbroking companies 
  • companies or organisations whose activities are closely related to pawnbroking 
  • other entities if holding the shares is essential for the pawnbroking activities.

No. However, the interest rate must be reasonable as required by the Consumer Protection Act.

Links to legal texts