Legal and Licensing Department
Legal and Licensing Department is one of the three units of the Financial Market Supervision Service. This Department is responsible for the analysis of legislative initiatives concerning activities and supervision of financial market participants and for drawing up of legal acts in this area. Our objective is to formulate and support the Financial Market Supervision Service’s position on the most important legislative and other legal issues that is harmonised, complies with legal regulation and creates conditions for efficient financial market supervision and sustainable development of the financial market.
We investigate breaches of legal acts that regulate financial market and are responsible for the procedures of the application of enforcement measures as well as for ensuring their proportionality and effectiveness.
Our task is to ensure that only transparent and reliable entities operate in the financial market. We do this by assessing the applications for licences that we receive and checking whether companies comply with the operational requirements set out in legal acts, as well as whether candidates for management positions are of impeccable reputation and meet the qualification and experience requirements laid down in legislation.
We are also responsible for the prevention and investigation of disputes between consumers and financial market participants arising from agreements on loans, deposits, payments, investment and other financial services.
Director – Arūnas Raišutis