Instructions for changes in business activities
Changes in business, including the sale of the loan portfolio, mergers and discontinued activities, may have an impact on the right to use the Positive Credit Register’s API interfaces. Changes may have an impact on the reporting of data and requests for a credit register extract.
On these pages, you can find instructions for parties with a reporting obligation and data permission holders for changes in business activities. If a company has submitted data to the register and requested credit register extracts, read the instructions for both parties with a reporting obligation and data permission holders.
The instructions also describe what reassignees must do if loans are transferred to another party or if another party continues lending activities.
Instructions for parties with a reporting obligation
Changes in business activities may have an impact on data reporting, meaning the right to use reporting APIs. Such changes include the sale of the loan portfolio, changes in the type of business, mergers and discontinued activities.
Submit information about changes in business activities using the contact form as early as possible after becoming aware of the changes. Indicate at least the following information in the form:
- What changes will take place in business activities and when?
- Do you want your API connection to be closed?
- As a rule, an API connection can only be closed at the request of the managing director or another person entitled to sign for their company.
- What impact do the changes have on loans subject to a reporting obligation? Will loans be transferred to another party with a reporting obligation? If they do, what kind of a plan or schedule has been defined for the transfer?
- Do the changes involve another party? If they do, indicate the other party’s name and Business ID.
If a party with a reporting obligation discontinues active business operations but the Business ID remains valid and loans within the scope of a reporting obligation remain in the loan portfolio, the party with a reporting obligation must continue to submit data on loans to the Positive Credit Register as usual.
If a party with a reporting obligation discontinues their activities and the Business ID is closed, the use of reporting APIs will be restricted from the date on which the Business ID was closed in accordance with the Business Information System. For example, a Business ID is closed in conjunction with the merger of a limited liability company once the merger has been registered in the Trade Register. The Incomes Register Unit obtains information about closed Business IDs of Finnish companies directly from the Business Information System. APIs will be closed permanently once a party with a reporting obligation has stopped submitting data and, for example, provided information that loans entered in the register have been transferred.
If loans are transferred, what must the reassignee do?
If the reassignee has already signed up as a data notifier
If the reassignee has a valid right to use reporting APIs, it does not need to sign up again. The reassignee submits loan data to the register in accordance with instructions and within the deadline laid down by law.
If the reassignee has not signed up as a data notifier
If the reassignee has a reporting obligation, it must sign up with the Incomes Register Unit no later than one month before it starts to submit data. The reporting obligation is laid down by law (Act on the Positive Credit Register).
Read instructions for signing up to the Positive Credit Register as a data notifier
Instructions for data permission holders and parties entitled to a data permission
Changes in business activities may have an impact on the data permission, meaning the right to obtain data from the register and the right to use the API for credit register extract requests. Such changes include changes in the type of business and discontinued activities.
Submit information about changes in business activities using the contact form as early as possible after becoming aware of the changes. Indicate at least the following information in the form:
- What changes will take place in business activities and when?
- What impact do the changes have on the data permission or the purposes defined in the permission?
- Are you requesting your data permission to be cancelled?
- As a rule, a data permission can only be cancelled at the request of the managing director or another person entitled to sign for their company.
- Do the changes involve another party? If they do, indicate the other party’s name and Business ID.
The API for credit register extract requests will stop working once the Incomes Register Unit has obtained information about discontinued activities; for example, when the Business Information System indicates that a Business ID has been closed.
If lending activities are transferred, what must the reassignee do?
If the reassignee already has a valid data permission
No change in the data permission needs to be requested if no significant changes affecting the data permission take place in the reassignee’s activities. However, if such changes take place, the reassignee must request a change in the data permission from the Incomes Register Unit using the contact form.
If the reassignee does not yet have a data permission
If the reassignee is obligated to assess a consumer’s creditworthiness, it must request a data permission from the Incomes Register Unit well in advance. Data cannot be requested before the data permission has been granted. For example, if a lender reorganises its activities so that its lending activities continue but its Business ID changes, a new data permission must also be requested for the new Business ID well in advance.
Read instructions for lenders on how to request a data permission.