News

2503.25

Finantsinspektsioon confirms that a criminal report has been filed in the Planet42 case

Chair of the Finantsinspektsioon management board Kilvar Kessler said that the supervisor cannot tolerate abuse of trust in the financial sector for criminal aims. “Finantsinspektsioon always responds appropriately to suspicions of criminal activity, which also means taking into account other ongoing or potential cases”, he added.

2503.25

Finantsinspektsioon issued a precept to Ühisarveldused AS

Finantsinspektsioon issued a precept on 2 December to Ühisarveldused AS (register code 14192799) as it identified shortcomings during an inspection in organising general governance, in capital management and ensuring the correctness of reporting, and in compliance with and adherence to internal regulations.

2503.25

Finantsinspektsioon fined Salva Kindlustuse AS 10,000 euros

Finantsinspektsioon fined Salva Kindlustuse AS (register code 10284984) 10,000 euros for presenting false information to policyholders and breaking the requirements concerning advertising financial services.

2503.25

Misdemeanour proceedings against IIZI Kindlustusmaakler AS terminated by the Supreme Court due to expiry of the limitation period

Harju County Court upheld the decision of Finantsinspektsioon to fine IIZI Kindlustusmaakler AS 24,000 euros for a misdemeanour. The company breached the prohibition on transferring the marketing of insurance, the duty for the intermediary to act in the insurance interests of the client, and the requirements set by law.

2503.25

Kilvar Kessler tells an AML conference that supervision to stop money laundering needs harmonisation in Europe

The years ahead will see challenges in the European Union for companies operating in crypto and for supervisors said Chair of the Finantsinspektsioon Management Board Kilvar Kessler at the Nordic-Baltic AML-2024 conference. His speech focused on setting up the European anti-money laundering agency AMLA, and on supervising crypto markets.

2503.25

The court finds that Finantsinspektsioon had the right to fine Tuleva Fondid AS for breaking the rules about advertising

Harju County Court approved the position of Finantsinspektsioon that there were serious shortcomings in how Tuleva Fondid AS advertised its financial services.