Enquiry

Lietuvos bankas organises and carries out inspections aimed at determining compliance with the requirements set out in the legal acts regulating the financial market. The rights of Lietuvos bankas in conducting inspections of financial market participants (FMPs) are stipulated in the Republic of Lithuania Law on the Bank of Lithuania.

The process of carrying out inspections by Lietuvos bankas is detailed in the Regulations on inspections carried out for the purposes of financial market supervision of the Bank of Lithuania.

This survey seeks to find out about the experience of financial market participants who have recently participated in the inspection process initiated by Lietuvos bankas. The information provided by financial market participants will help the financial market supervision units of Lietuvos bankas to improve their internal processes.

The questionnaire is anonymous and the results will not be made public.

Lietuvos bankas publishes an annual inspection plan on its website by 1 February of each year. Are you following this plan? *

Yes

No

If you answered “Yes”, please rate the following statements: *	1	2	3	4	5
The information provided in the inspection plan is clear	1	2	3	4	5
The information provided in the inspection plan is sufficient	1	2	3	4	5
The published format of the inspection plan is user-friendly	1	2	3	4	5
The inspection plan is easy to find	1	2	3	4	5

If you assessed one or more statements with a score of 3 or less, please explain what you have missed: * If you assessed one or more statements with a score of 3 or less, please explain what you have missed:
If you answered “No”, please indicate the reason: *

I was not aware that the inspection plan was made public

I was aware that the inspection plan had to be published, but I could not find it

The inspection plan was not relevant

Other (please specify):
What type of inspection was carried out in your undertaking? *

Routine (general, targeted, assessment visit)

Non-routine

I will not specify

If a routine inspection was carried out in your undertaking, was the entity properly notified of the upcoming inspection?: *	1	2	3	4	5
The entity was notified in due time, i.e. not later than 10 business days before the start of the inspection	1	2	3	4	5
The submitted letter regarding the inspection clearly set out the areas of activities to be inspected during the inspection	1	2	3	4	5
The initial information and documents to be provided by the undertaking to the Inspection Team were clearly identified	1	2	3	4	5
A copy of Lietuvos bankas’ inspection document was provided to the undertaking	1	2	3	4	5

If you assessed one or more statements with a score of 3 or less, please explain what shortcomings you have identified as regards notification of the upcoming inspection: * If you assessed one or more statements with a score of 3 or less, please explain what shortcomings you have identified as regards notification of the upcoming inspection:
During the inspection carried out in your undertaking, were you notified of the progress of the inspection and its follow-up? *

Yes

Partially

No

I will not specify
Please share what information you have missed: * Please share what information you have missed:

How do you assess the work of the members of the Inspection Team of Lietuvos bankas? : *	1	2	3	4	5
The members of the Inspection Team acted in a businesslike manner	1	2	3	4	5
The members of the Inspection Team were professional (knowledgeable about the area under the inspection)	1	2	3	4	5
The members of the Inspection Team acted in an ethical and transparent manner	1	2	3	4	5
The members of the Inspection Team communicated clearly and smoothly (e.g. clearly indicating what additional information needs to be provided, etc.)	1	2	3	4	5
The members of the Inspection Team were flexible (organised the inspection by adapting to the specific features of the undertaking’s activities and endeavoured not to disrupt the undertaking’s activities)	1	2	3	4	5
The members of the Inspection Team indicated via which channel and how to provide the information requested during the inspection	1	2	3	4	5

If you assessed one or more statements with a score of 3 or less, please explain what additional observations you have on the work of the members of the Inspection Team appointed by Lietuvos bankas: * If you assessed one or more statements with a score of 3 or less, please explain what additional observations you have on the work of the members of the Inspection Team appointed by Lietuvos bankas:

Lietuvos bankas normally uses a secure channel for the exchange of information during an inspection. How do you assess the channel used for the exchange of information?: *	1	2	3	4	5
The information channel is secure	1	2	3	4	5
The information channel is convenient to use	1	2	3	4	5
The provision of information via the channel is simple and fast	1	2	3	4	5
The information channel works smoothly	1	2	3	4	5

If you assessed one or more statements with a score of 3 or less, please explain what you see as shortcomings of the secure channel for the exchange of information: * If you assessed one or more statements with a score of 3 or less, please explain what you see as shortcomings of the secure channel for the exchange of information:

At the end of an inspection, the results of the inspection are documented in an Inspection Report. Please rate the following statements on the quality of the Inspection Report *	1	2	3	4	5
The Inspection Report was prepared in a professional manner	1	2	3	4	5
The Inspection Report clearly states facts	1	2	3	4	5
The Inspection Report contains recommendations for improvement of operations or processes	1	2	3	4	5
The Inspection Report was drawn up in a comprehensible manner	1	2	3	4	5
The operational shortcomings or irregularities identified in the Inspection Report are detailed and substantiated	1	2	3	4	5
The Inspection Report is easy to read, i.e. clear structure and language, coherent presentation	1	2	3	4	5

If you assessed one or more statements with a score of 3 or less, please share any advice you would have on the content of the Inspection Report: * If you assessed one or more statements with a score of 3 or less, please share any advice you would have on the content of the Inspection Report:
During the inspection of your undertaking, irregularities were detected: *

Yes

No

I will not specify

Other (please specify):
Has your undertaking been imposed a sanction? *

Yes

No

I will not specify

Other (please specify):

Lietuvos bankas publishes information on all sanctions imposed on financial market participants on Lietuvos bankas’ website. Please rate the content of this communication: *	1	2	3	4	5
The content of the communication is clear and smooth	1	2	3	4	5
The content of the communication is sufficient in scope	1	2	3	4	5
The content of the communication is sufficiently detailed	1	2	3	4	5
The content of the communication contributes to the improvement of the undertaking’s activities	1	2	3	4	5

If you assessed the statement with a score of 3 or less, please explain what communication shortcomings you have observed: * If you assessed the statement with a score of 3 or less, please explain what communication shortcomings you have observed:
Please indicate the duration of the licensed activities of the undertaking you represent: *

Up to 2 years

Between 2 and 5 years

More than 5 years
Please indicate the last time when your undertaking was inspected: *

Within the last 2 years

More than 2 years ago

More than 5 years ago
In your opinion, was the duration of the inspection appropriate? *

Yes

Partially

No

I will not specify
What is your overall assessment of the experience gained from the inspection(s)? *

Positive

Neither positive nor negative

Negative
Please explain what you think we can do better: * Please explain what you think we can do better:

Survey to collect feedback after an inspection