Financial Services and Market Supervision Department
Financial Services and Market Supervision Department is one of the three units of the Financial Market Supervision Service. Our Department’s task 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.
Our staff prepare various 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.
We aim at financial market transparency and its fair operation by monitoring and analysing trading in the markets in financial instruments, conducting investigations of potential market abuse and monitoring transactions concluded at AB Nasdaq Vilnius. Active work is undertaken with issuers whose shares are traded on the stock exchange – we analyse prospectuses of securities issues and takeover bid circulars submitted by them, assess compulsory equity purchasing prices and monitor the disclosure of information related to issuer activities and financial instruments, as well as compliance of financial statements with applicable accounting standards.
Substantial time is devoted to communication with supervised financial market participants and their customers by investigating complaints of consumers concerning the provision of financial services or financial products. Our unit is responsible for the oversight of the dissemination of proper information on financial services – correct information helps people take rational decisions. Considerable attention is paid to the improvement of financial market regulation to ensure a quick response to the changes in financial services and markets.
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 actions of consumers are more responsible and financial decisions are taken more reasonably.
Director – Rūta Merkevičiūtė