The chair of the Board of the Securities Market Association is Risto Murto.

The other members of the Board are:

  • Henrik Husman (vice chair)
  • Timo Kokkila
  • Laura Raitio
  • Micaela Thorström

The secretary to the Board is Senior Advisor Ville Kajala.


The Board of the Securities Market Association has appointed a permanent secretariat to manage the activities of the association. The secretariat actively monitors developments and debate in matters that fall within the association’s duties, prepares agenda items for the association’s Board if necessary and acts as a point of contact between companies and other bodies related to the association’s activities.

The secretariat consists of the following persons:

  • Senior Advisor Ville Kajala, Finland Chamber of Commerce
  • Associate General Counsel Tapani Manninen, Nasdaq Helsinki Ltd
  • Assistant General Counsel Jaakko Raulo, Nasdaq Helsinki Ltd
  • Deputy CEO Johanna Sipola, Finland Chamber of Commerce
  • Director Tommi Toivola, Confederation of Finnish Industries EK
  • Senior Adviser Hannu Ylänen, Confederation of Finnish Industries EK

Contact details of the secretariat are found on the Contact page.

More information

Ville Kajala

Ville Kajala

Senior Advisor, Finland Chamber of Commerce

+358 50 376 1460

Read more

Rules of the Association (in Finnish)

pdf 108 KB

Rules of procedure of the Board (in Finnish)

pdf 130 KB

Rules of Procedure of the Market Practice Board (in Finnish)

pdf 124 KB

Rules of procedure of the Takeover Board (in Finnish)

pdf 129 KB

Self-regulation Principles

pdf 25 KB

List of Supporting Members (in Finnish)

pdf 117 KB