News

2503.25

Bafin announced it had submitted a bankruptcy application against the insurer ELEMENT Insurance AG

The German financial supervisor Bafin announced it had submitted a bankruptcy application against the insurer ELEMENT Insurance AG. The winding up procedures of the insurer will be applied by German law under §160 of the German insurance supervisory act.

2503.25

Finantsinspektsioon has withdrawn the operating licence as a creditor and mortgage creditor from Kinnistulaen OÜ

Finantsinspektsioon withdrew the operating licence as a creditor and mortgage creditor from Kinnistulaen OÜ (register code 12567781) on 13 January 2025.

2503.25

Debt collection agencies that will come under supervision were granted extra time

Changes to the law came into force on 1 January 2025 that extended the transitional conditions for debt collection companies to bring their activities into line with the requirements of the Debt Collection and Debt Purchase Act.

2503.25

Finantsinspektsioon has withdrawn the operating licence as a creditor and mortgage creditor from Ehital Krediit OÜ

On 30 December Finantsinspektsioon withdrew the operating licence as a creditor and mortgage creditor issued to Ehital Krediit OÜ on 16 May 2016. The licence was withdrawn following an application from the company itself.

2503.25

AS Redgate Capital was granted an additional licence

Finantsinspektsioon issued an additional licence to operate as an investment firm to AS Redgate Capital on 23 December. The licence gives the company the right to offer securities portfolio management as an investment service and foreign currency exchange services as an auxiliary service if those services are connected to the provision of investment services.

2503.25

OÜ GS Core was granted a licence as a debt collection agency

Finantsinspektsioon issued an operating licence as a debt collection company to OÜ GS Core on 23 December. The Debt Collection and Debt Purchase Act requires all debt collection companies to apply for a licence if they collect debts arising from the credit contracts of banks or creditors.