Finantsinspektsioon issued a precept to Funderbeam Markets AS

16/06/2023

Finantsinspektsioon issued a precept on 12 June to Funderbeam Markets AS because it did not release its annual report for 2022, the proposal and decision on profit distribution or loss coverage, and the sworn auditor’s report on time.

The financial year for Funderbeam Markets AS starts on 1 January and ends on 31 December, and the investment firm should have submitted its annual report for 2022 together with the accompanying documents under the Securities Market Act by 2 May this year at the latest. This had not yet been done at the moment the precept was issued.

The Securities Market Act requires investment firms to publish their annual report, their proposal and decision on profit distribution or loss coverage, and the sworn auditor’s report within two weeks of the general meeting of shareholders, and no later than four months after the end of the financial year.

Finantsinspektsioon has the right to disclose, in full or in part, the content of a precept if this is necessary for the protection of investors, or for ensuring the proper functioning of the financial market. Decisions may be appealed at the Tallinn Administrative Court within 30 days of notification of the administrative decision.

More news

1503.24

Scam emails are being sent out in the name of Finantsinspektsioon

Scam emails are being sent out in the name of Kilvar Kessler, head of Finantsinspektsioon, from an address ending @ee-fi.com. The emails are frauds, and Finantsinspektsioon urges people to be vigilant and not to open such emails.

0403.24

There have been problems with access to everyday banking services says Kilvar Kessler

Basic payment services should be available even if providing those services does not bring significant income to the banks said chair of the Finantsinspektsioon board Kilvar Kessler today at an information seminar organised for banks and bank branches.

0403.24

Kilvar Kessler tells a conference that Finantsinspektsioon is increasing the resilience of the financial sector

Tensions in international relations have led Finantsinspektsioon to pay more attention than previously to the operation of vital financial services during a crisis said chair of the Finantsinspektsioon board Kilvar Kessler at a conference on economic security on Tuesday.

0403.24

Finantsinspektsioon issued a precept to Saare Finants OÜ

Finantsinspektsioon issued a precept to Saare Finants OÜ on 12 February requiring it to submit its annual financial reports for 2019-2022 to Finantsinspektsioon.