Financial Services

International Internet Magazine. Baltic States news & analytics Sunday, 17.02.2019, 22:22

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Bank of Lithuania: ADB Compensa Vienna Insurance Group fined

Bank of Lithuania: ADB Compensa Vienna Insurance Group fined

15.02.2019

After assessing the inspection results of ADB Compensa Vienna Insurance Group, the Board of the Bank of Lithuania imposed it a fine of 20,000 EUR for violations of legal acts and disclosure of misleading information related to its financial condition in the supervisory reporting and financial statements, informed Bank of Lithuania.

Keyword tags: Banks, Financial Services, Insurance, Lithuania



Bank of Lithuania position on virtual assets and initial coin offering reflects changing market realities

Bank of Lithuania position on virtual assets and initial coin offering reflects changing market realities

15.02.2019

Taking into account current market developments and evolving regulatory regimes as well as seeking to ensure a level playing field for all financial market participants, the Board of the Bank of Lithuania has updated its position on virtual assets and initial coin offering. The position is intended for existing and potential financial market participants as well as entities intending to organise initial coin offerings or provide the possibility for Lithuanian investors to invest in this product type.

UK payments firm Earthport sets up unit in Vilnius

UK payments firm Earthport sets up unit in Vilnius

15.02.2019

Earthport, a UK-based cross-border payments firm that the world's credit card giants Visa and MasterCard are battling for, has registered a company in Lithuania, reported LETA/BNS.


Researchers in economics awarded €10 and €5 thousand from Bank of Lithuania

Researchers in economics awarded €10 and €5 thousand from Bank of Lithuania

15.02.2019

The Board of the Bank of Lithuania granted three researchers in economics awards for scientific activities and dissertations in the field of economics.

Magnetic MRO's bonds admitted to First North market of Nasdaq Baltic

Magnetic MRO's bonds admitted to First North market of Nasdaq Baltic

14.02.2019

The bonds of Magnetic MRO, an aviation maintenance company headquartered in Estonia, were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn as of Thursday, the stock exchange announced.


14.02.2019

Nordic Council of Ministers contributes EUR 100,000 to Baltic Culture Fund

The Nordic Council of Ministers gave 100,000 euros to the Baltic Culture Fund for the organization of joint cultural events in other countries, reported LETA/BNS.

14.02.2019

Flywire, Red Dot Payment set up companies in Lithuania

Two international payment companies, the UK's Flywire and Singapore's Red Dot Payment, have registered companies in Vilnius, reported LETA/BNS.

14.02.2019

Estonian financial authority warns against Golden Circle Capital

The Estonian Financial Supervision Authority warns against provider of investment services Golden Circle Capital, which does not hold a licence to offer said services reffered LETA/BNS.

14.02.2019

Latvian Police arrested EUR 121.3 mln worth of property connected to money laundering last year

According to information from the State Police, EUR 121.3 mln worth of property was arrested in connection with money laundering activities last year informed LETA/BNS.

13.02.2019

Estonia's current account ran EUR 13 mln deficit in December

A flash estimate published by the Bank of Estonia puts the Estonian current account at 13 mln euros in deficit in December 2018, informed Bank of Estonia,

13.02.2019

Baltic fund Livonia Partners buys stake in Estonia's Fenestra window maker

Livonia Partners, a private-capital investment fund operating in the Baltic states, has bought a 60-percent stake in Estonian windows producer Fenestra, in a deal already endorsed by Estonia's competition watchdog, reported LEtA/BNS.

13.02.2019

Estonia to invest EUR 26 mln in Baltic Innovation Fund II

Estonia is to invest 26 mln euros over the next four years in the Baltic Innovation Fund II (BIF II), which in turn aims to invest in early and growth stage Baltic businesses, informed LETA/BNS.

12.02.2019

Phase II of the LBChain project: Registration for FinTech companies has started

The Bank of Lithuania starts the second stage of the LBChain project. FinTech companies seeking to develop or test a blockchain-based product together with leading experts are invited to apply for participation by 15 February.

12.02.2019

Estonian cbank supervisory board picks Madis Muller as candidate for governor

The supervisory board of the Bank of Estonia by a secret vote on Tuesday chose Madis Muller, current deputy governor of the central bank, as candidate for its next governor, spokespeople for the Estonian central bank said.

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