News

0306.21

Finantsinspektsioon made a criminal report to the Office of the Prosecutor General on the activities of Vabaks OÜ

Finantsinspektsioon has reasonable grounds to suspect that Vabaks OÜ has been operating without authorisation in areas where an authorisation is required.

0306.21

Clementer OÜ was granted an operating authorisation as a creditor

Finantsinspektsioon issued an authorisation to operate as a creditor to Clementer OÜ on 24 May. The main service provided by Clementer OÜ is issuing loans against mortgage collateral. The members of the management board of Clementer OÜ are Paul Meerits and Jonatan Hilep. The website of Finantsinspektsioon lists the authorised creditors that are registered as supervised entities.
 

1405.21

Finantsinspektsioon discussed with the Head of European Banking Supervision how the sector is coping with the pandemic

On Friday 7 May, Chair of the Finantsinspektsioon Management Board Kilvar Kessler met the head of banking supervision at the European Central Bank, Andrea Enria. The routine meeting discussed how the financial sector coped during the Covid-19 pandemic and the principles of the organisation of work in European supervision.

1405.21

Finantsinspektsioon ran checks on the requirement for payment and e-money institutions to pass on information to their clients

Finantsinspektsioon did not find in its checks any significant shortcomings in the internal rules for notifying consumers of payment and e-money institutions operating in Estonia and authorised by Finantsinspektsioon.

1105.21

Finantsinspektsioon and the private sector have together assessed how financial sector legislation affects innovation

Finantsinspektsioon worked with businesses in the financial sector to map the rules that unreasonably hinder financial innovation. The aim of this assessment was to identify whether the current legislation contains out-of-date rules that block innovation in unreasonable ways.

1105.21

Finantsinspektsioon explains when an authorisation is needed to lend to private people

Finantsinspektsioon has highlighted in a memo when is necessary to apply to Finantsinspektsioon for an authorisation before granting consumer loans to private people. The authorisation is needed when issuing consumer credit becomes the main economic activity and source of revenue of a business.