News

1706.22

Time is running out for crowdfunders to apply for an authorisation

Under the regulation of the European Union, all crowdfunding service providers have to have an authorisation by 10 November 2022, after which they cannot operate without one. The final deadline for applying to Finantsinspektsioon for an authorisation is at hand.

1706.22

Modena Payments OÜ was granted an operating authorisation to provide payment initiation services and account information services

Finantsinspektsioon issued authorisation on 30 May to Modena Payments OÜ to provide payment initiation services and account information services as a payment institution.

1706.22

Finantsinspektsioon has withdrawn the authorisation as a creditor from AS ESTRAVEL

On 6 June Finantsinspektsioon withdrew the authorisation as a creditor issued on 21 March 2016 to AS ESTRAVEL. The authorisation was withdrawn following an application from the company itself.

1706.22

The names of sustainable funds must not be misleading

The European Securities and Markets Authority (ESMA) has clarified the conditions under which certain terms relating to sustainability can be used in fund names, and the information that management companies that call themselves sustainable must disclose in their conditions, prospectuses, websites and annual reports.

1304.22

Finantsinspektsioon has withdrawn the authorisation as a creditor from OÜ Nemm Auto and the authorisation as a credit intermediary from Laenuvahendaja OÜ

On 11 April Finantsinspektsioon withdrew the authorisation as a creditor issued on 15 February 2016 to OÜ Nemm Auto and the authorisation as a credit intermediary issued on 7 December 2020 to Laenuvahendaja OÜ. The authorisations were withdrawn at the application of the companies themselves.

1204.22

Cresco Väärtpaberid has been fined 30 000 euro

Finantsinspektsioon has fined Cresco Väärtpaberid (registry code 10093327) a total of 30,000 euros for two misdemeanours. The company did not release its annual reports for 2019 and 2020, its proposals and decisions on profit distribution or loss coverage, or the sworn auditor’s reports, or submit them to Finantsinspektsioon on time.