Supervision

Within the range of its competence, the Bank of Lithuania seeks to ensure security, soundness, transparency and competitiveness of the domestic system of financial services. An efficient financial market participants’ supervision system that complies with international practices has been created in our country. This is the assessment of such a highly competent global financial institution as the International Monetary Fund. The Bank of Lithuania issues licences to financial market participants for the provision of financial services and supervises their activities. As a supervisory authority, the Bank of Lithuania monitors the compliance of financial market participants with laws and requirements set by legal acts of the Bank of Lithuania, International Financial Reporting Standards, requirements recommended by international organisations for safe and sound activities. The Bank of Lithuania also investigates disputes between consumers and supervised institutions and provides recommendations on how, according to the Bank of Lithuania, a particular dispute between a consumer and a financial institution should be settled. Read more