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.
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.
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.
The Tallinn Circuit Court ruled today that Finantsinspektsioon had the right to withdraw the authorisation from GFC Good Finance Company AS on 27 May 2019, and to make this information public.
Chair of the European Single Resolution Board Dominique Laboureix, SRB Board Member Tuija Taos, and Head of Unit for Resolution Planning and Decisions Jose Manuel Panero Rivas will visit Estonia on 16 and 17 November.
Finantsinspektsioon is holding the Estonian FinTech Forum 2023 conference on 8 November in the Independence Hall of Eesti Pank, at which experts in the field will examine the FinTech ecosystem.
