Licensing Guide: in one place — detailed information for future and current financial market participants

“By preparing this Guide, we seek to help financial market participants intending to obtain an authorisation to quickly and comprehensively get acquainted with the requirements of legal acts. It will come in handy for participants operating in the market as well. Enterprises will no longer have to waste time on picking information from various laws and other legal acts. The Licensing Guide will help to find all major information, presented clearly and in a detailed way, in one place,” says Vytautas Valvonis, Director of the Supervision Service of the Bank of Lithuania. 

The information presented in the Licensing Guide is divided into the following major parts: requirements for the legal form and registered office of a financial market participant, requirements for founders and management, capital requirements, the list of documents to be submitted to the Bank of Lithuania, state levy, time-frames for addressing submitted documents, licensing peculiarities of specific financial market participants and the list of legal acts regulating the issue of the issuance of authorisations. For the sake of convenience, the data is also divided by type of financial market participant (credit institution, credit union, insurance undertaking, etc.). 

In the future, the Licensing Guide will be supplemented with information on the provision of cross-border services in the internal market of the European Union, information on the procedures when  applications are processed by the European Central Bank, positions and replies of the Bank of Lithuania to the questions most frequently asked by financial market participants as well as other relevant information. 

Supervision of financial market participants