Management Board of Financial Supervision Authority
The members of the Management Board are Mr. Kilvar Kessler (Chairman), Mr. Andre Nõmm, Mr. Andres Kurgpõld.
Competence of the Management Board
The Management Board is competent to pass all resolutions related to performance of the obligations of the Financial Supervision Authority, and to perform all obligations and exercise all rights which pursuant to the Financial Supervision Authority Act are not in the competence of the Supervisory Board, the Chairman of the Supervisory Board or the Chairman of the Management Board.
The Management Board shall decide on:
the issue and revocation of activity licenses and other issues relating to activity licenses
the grant of consent, permission or concordance
issues relating to performance of the registration obligation and entering items in lists; the issue of precepts; the application of administrative coercive measures
the imposition of administrative penalties
the ordering of special audits or expert assessments
the establishment of a moratorium or a special regime and the performance of related acts
the filing of bankruptcy petitions and the performance of other acts relating to bankruptcy or liquidation proceedings.
In issues relating to the management and organisation of activities, the Management Board shall:
submit the strategy of the Financial Supervision Authority to the Supervisory Board for approval
submit the draft budget of the Financial Supervision Authority to the Supervisory Board for approval together with a proposal concerning the rate of the share of the supervision fee calculated on the basis of assets, payable on the basis of this Act for the following budgetary year
decide, pursuant to and to the extent of the budget approved by the Supervisory Board, on the acquisition and transfer of immovables and of movables to be entered in a register
submit proposals to the Supervisory Board concerning development of the structure of the Financial Supervision Authority and the bases for payment of remuneration
approve the structure and staff of the Financial Supervision Authority pursuant to the bases approved by the Supervisory Board
approve the accounting policies and procedures of the Financial Supervision Authority
approve the procedure for conducting internal audits of the Financial Supervision Authority
if necessary, involve experts in the conduct of financial supervision
form work groups and committees for the performance of the functions of the Financial Supervision Authority
decide on entry into co-operation agreements specified in the Financial Supervision Authority Act
decide on entry into co-operation agreements with foreign financial supervision authorities and other competent foreign agencies or persons
submit an overview of the activities of the Financial Supervision Authority and an income and expense statement to the Supervisory Board once per quarter
submit the annual report of the Financial Supervision Authority to the Supervisory Board for approval
approve the rules for the activities of the Management Board
decide on other issues relating to the organisation of the regular activities of the Supervision Authority if such decision is requested by at least two members of the Management Board.