News

Finantsinspektsioon issues an investor alert about the activities of VestaFuture OÜ

Finantsinspektsioon is again warning the public about the activities of the unlicensed investment service provider VestaFuture OÜ. Finantsinspektsioon has so far this year published six investor alerts about VestaFuture OÜ. After each alert, VestaFuture OÜ has started to offer unlicensed services through new channels.

Finantsinspektsioon has withdrawn the authorisation from Credible Finance OÜ

On 22 November Finantsinspektsioon withdrew the authorisation as a credit intermediary issued on 3 May 2018 to Credible Finance OÜ. The authorisation was withdrawn following an application from the company itself.

Credible Finance OÜ confirmed to Finantsinspektsioon that as the business had never commenced operations, it had never signed a single consumer credit contract.

Finantsinspektsioon has issued a precept to AS PRFoods requiring it to publish its annual report

A precept issued by Finantsinspektsioon requires AS PRFoods to publish its annual report 2020/2021 in accordance with the Securities Market Act.

Finantsinspektsioon has ended its misdemeanour proceedings against Swedbank, which has started to compensate the clients affected

Finantsinspektsioon has ended its misdemeanour proceedings against Swedbank AS (registry code 10060701) in relation to trading in the subscription rights of AS LHV Group. The proceedings were terminated because Swedbank AS voluntarily and promptly compensated clients who were able to purchase the subscription rights of AS LHV Group without completing the related questionnaire.

The work of financial supervision must become more digital says Kilvar Kessler

The Covid-19 pandemic has pushed European banks towards greater digitalisation, and so the work of financial supervision authorities should also become more digitalised than it has been, said Chair of the Board of Finantsinspektsioon Kilvar Kessler in a speech to the policy conference of the European Banking Institute (EBI).

Crowdfunding is to come under the supervision of Finantsinspektsioon

Under the directive of the European Parliament and of the Council, the majority of the current crowdfunding providers in Estonia will have to start to apply to Finantsinspektsioon for an operating authorisation. Finantsinspektsioon will start to receive applications for authorisations on 10 November. Businesses have one year to get the operating authorisation.