Financial Services and Markets Supervision Department
- Supervision of financial services
- Supervision of financial brokerage and management companies, payment and electronic money institutions
- Prevention of money laundering and terrorist financing
- Supervision of trading in the markets in financial instruments
Director of the Financial Services and Markets Supervision Department – Vaidas Cibas.
The objective of the Financial Services and Markets Supervision Department is to ensure that financial market participants act responsibly and professionally when providing financial services, whereas users of financial services take rational financial decisions.
We supervise financial brokerage and management companies, payment and electronic money institutions so that they operate in a reliable manner – have adequate capital, ensure liquidity and properly manage the risks assumed.
We aim at financial market transparency and fair operation: we monitor and analyse trading in the markets in financial instruments, carry out investigations of potential abuse, monitor transactions concluded at the stock exchange.
We supervise financial market participants, so that they properly implement anti-money laundering and counter-terrorist financing measures, as well as ensure an early identification of deficiencies in their operation.
Our staff prepare thematic reviews of the activities of undertakings providing financial services and trends in the market of financial services and products; we also analyse whether consumers are treated in a fair and professional manner.
Substantial time is devoted to communication with supervised financial market participants and their customers; we plan and conduct supervision of financial service providers on the basis of complaints received from consumers. Our unit is responsible for the oversight of the dissemination of adequate information on financial services – correct information helps people take rational financial decisions.
We also actively contribute to the increase in financial literacy of consumers by participating in financial education initiatives organised by the Bank of Lithuania and other institutions, so that financial behaviour of consumers is more responsible and financial decisions are taken more reasonably.
The Department is comprised of six divisions: Investment Services and Undertakings Supervision Division, Capital Market Supervision Division, Payment Services Supervision Division, Payment and Electronic Money Institution supervision Division, Credit and Insurance Services Supervision Division, AML Division.