News

0403.24

Finantsinspektsioon is to restrict the activities of AS TBB pank

Finantsinspektsioon found major deficiencies in the anti-money laundering and terrorist financing systems and organisations of AS TBB pank (register code 10237984), and so issued a precept limiting the bank’s activities in providing payment services and required the bank to eliminate the deficiencies.

0403.24

Finantsinspektsioon fined Tuleva Fondid AS 100,000 euros

Finantsinspektsioon fined the pension fund manager Tuleva Fondid AS (register code 14118923) 100,000 euros for a misdemeanour, as there were major deficiencies in the adverts of Tuleva Fondid AS for financial services.

0403.24

Finantsinspektsioon published more than 1300 alerts last year

Finantsinspektsioon helps protect consumers against fraud by publishing alerts or warnings on its website about companies operating without a licence in Estonia and elsewhere in the European Union.

0403.24

Finantsinspektsioon has fined Invest in OÜ

Finantsinspektsioon fined the creditor Invest in OÜ (register code 12209917) 16,000 euros for a misdemeanour, as the company did not submit its regular supervision reports on time.

0403.24

Bank accounts of consumers can only be closed in exceptional circumstances says Finantsinspektsioon

Finantsinspektsioon issued an advisory guideline that highlights that banks must follow the same rules when opening basic payment accounts for clients, refusing to open them, or closing them, and that opening an account may be refused or an account closed only in exceptional circumstances.

1202.24

The BaltCap Infrastructure Fund that has been associated with possible thefts does not come under the supervision of Finantsinspektsioon

Finantsinspektsioon has been informed of the suspicion that fund’s assets were used illegally in 2018–2023 mainly by Lithuanian and Polish companies that fund had invested in. That fund was managed by unlicensed small fund manager OÜ Baltcap Infrastructure Management.