News

0805.23

Technological development brings new risks to the financial sector says Kilvar Kessler at the RAID conference

Head of the management board at Finantsinspektsioon Kilvar Kessler spoke to the RAID 2023 conference about technology and innovation in the financial sector and about new technological risks. He was speaking at the conference on a panel that focused on the risks and opportunities of digital currencies.

2704.23

Finantsinspektsioon has withdrawn the authorisation as a credit intermediary from Monestro P2P OÜ

On 24 April Finantsinspektsioon withdrew the authorisation as a credit intermediary issued on 19 September 2016 to Monestro P2P OÜ. The authorisation was withdrawn following an application from the company itself.

2704.23

Finantsinspektsioon fined LHV Pank

Finantsinspektsioon fined AS LHV Pank (registry code 10539549) 5000 euros for a misdemeanour, as the bank disclosed confidential banking information to third parties without authorisation.

2704.23

Finantsinspektsioon held an open day

Finantsinspektsioon held an open day on 13 April to talk about the more interesting aspects of its work and what happens in the back rooms. The event was attended by some 50 students from different universities.

1404.23

Finantsinspektsioon warns creditors against charging too much

Finantsinspektsioon has issued a memorandum to draw the attention of creditors to the requirement to observe the upper limit on the Annual Percentage Rate (APR) in contracts that allow the repeated use of credit.

0404.23

Luminor Bank AS received the maximum possible fine from Finantsinspektsioon

Finantsinspektsioon fined Luminor Bank AS (registry code 11315936) 32,000 euros for a misdemeanour because of a technical fault in the Luminor card platform on 5 November 2022. The fault caused the bank to reserve some client payments twice, meaning money was reserved without instructions from the clients. A total of 7539 such payments were reserved.