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    2023 09 26
    Lithuania’s Dynamic Financial Landscape: A Buzz Interview with Marius Matiukas

    From the implementation of a bank windfall tax to a surge in crowdfunding and factoring and banks’ newfound appetite for real estate loans, the legal, financial, and regulatory landscape of Lithuania is constantly evolving, according to Adon Legal Partner Marius Matiukas.

    “Bank windfall legislation, adopted in May, introduced a tax on the banks’ increased net revenue from interest, based on the difference between interest (loan) incomes and interest (deposit) expenses,” Matiukas begins. “This has been a hotly debated topic, with banks expressing a reluctance to pay. However, it has led to a positive outcome as well, in terms of increased deposit interest rates and volumes.” Lithuania now ranks fourth in the EU for retail deposit interest rates, he explains, “which has resulted in a surge in deposits. This tax is expected to generate approximately EUR 400 million for the government by 2024.”

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    ADON legal
    2023 08 05
    New Office Location for ADON Legal

    ADON Legal would like to inform our clients and associates of our new office location:

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    ADON legal
    2023 07 13
    Interview of FinCause, UAB Founder to CEE Legal Matters

    On March 17, CEE Legal Matters reported that Adon Legal has advised Taiwanese capital company FinCause on obtaining an electronic money institution license from the Bank of Lithuania. CEE In-House Matters spoke with Waylon Yeh FinCause Founder and Member of the Management Board to learn more about the matter. 

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    ADON legal
    2022 11 21
    Partner at ADON legal selected to EBA expert group on crypto assets service providers (CASP) and anti-money laundering and countering the financing of terrorism

    Donatas Šliora, a managing partner at ADON legal has been selected as a member of the European Banking Authority expert group on crypto assets service providers (CASP) and anti-money laundering and countering the financing of terrorism (TEG-CASPs/AML).

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    ADON legal
    2022 10 14
    ADON legal hosted a training session with the best in factoring business

    At ADON legal, we are always looking for opportunities to expand our knowledge and expertise in various areas of law. Recently, we had the pleasure of hosting a training session on the subject of factoring and the different models available for businesses. The session was led by Mr. Mario Kan, a senior advisor at the European Bank for Reconstruction and Development (EBRD) with extensive experience in finance and diplomacy.

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    ADON legal
    2022 05 16
    Donatas Šliora of ADON legal shares some insight on the Lithuanian fintech landscape with CEE Legal Matters

    The Buzz in Lithuania: Interview with Donatas Sliora of Adon Legal. “Given the geopolitical context and measures implemented in Lithuania and on the EU level, the major topic in the country is adhering to the sanctions regime,” Sliora explains. “This is especially crucial to financial institutions, as there is a need to ensure that the new regime is being implemented, together with the additional limitations from the national regulator.” For example, he explains, “financial institutions have certain additional limitations on transferring money to Russian and Belarusian residents. In that context, one of the biggest obstacles for financial institutions includes reviewing existing client databases and applying new standards and rules to them.”

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    ADON legal
    2022 03 08
    Evelina Agota Vitkutė joins ADON legal

    Dr. Evelina Agota Vitkutė, Attorney-at-Law, regulatory expert joins law firm ADON legal! Evelina has 14 years of experience in the legal field. During her career, Evelina acted as a Regulatory Compliance Manager at Revolut and Compliance Officer at Swedbank, AB, before that she worked as an Attorney-at-Law in PwC Legal and TGS Baltic law firms.

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    ADON legal
    2021 12 06
    Marius Matiukas joins law firm ADON Legal as Partner

    Marius Matiukas, lawyer, finance and company law expert as well as lecturer becomes a partner of law firm ADON Legal.

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    ADON legal
    2021 04 11
    Donatas Šliora appointed to the Committee for Prevention of Money Laundering of the Lithuanian Bar Association

    Donatas Šliora, CAMS of ADON legal was appointed as a member of the Committee for Prevention of Money Laundering and Terrorist Financing of the Lithuanian Bar Association.

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    ADON legal
    2020 12 27
    Chambers & Partners ranked ADON legal and Donatas Šliora among the best in FinTech Legal in Lithuania

    In the latest rankings, Chambers & Partners recognized ADON legal team and its managing partner Donatas Šliora among the leaders in FinTech Legal in Lithuania.

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    ADON legal
    2020 10 14
    New Rules for Crowdfunding in Europe

    On 5 October 2020 the European Parliament approved new rules that will enable crowdfunding platforms to easily provide services across the single market. Crowdfunding platforms operating across EU countries will have to comply with a single set of rules – 2018/0048(COD) (Regulation).

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    ADON legal
    2020 05 29
    Guidelines for banks on opening accounts for e-money and payment institutions

    The latest position of the Bank of Lithuania deals with a topical issue – difficulties for e-money and payment institutions to open accounts in banks. The problem that the Bank of Lithuania seeks to tackle is not unique to Lithuania; nonetheless, an active stance from local supervisory authorities is not common amongst EU member states.

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    ADON legal
    2020 05 20
    Experts of ADON legal share insights on D&O Liability Insurance with insurance brokers

    ADON legal‘s partner Donatas Šliora shared insights with more than 450 insurance brokers on how to choose an adequate D&O Liability Insurance in a live webinar organized by Baltic Underwriting Agency, AB (BUNDA) and Chamber of Insurance Brokers.

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    ADON legal
    2020 04 15
    Ranked among leading firms in FINTECH by Legal500

    Legal 500, an independent and widely used legal directory has ranked ADON legal among the leading law firms in FINTECH area in Lithuania. Legal 500 notes that the law firm’s legal practice is “unique in the market”, and that the law firm handles the licensing of financial institutions, regulatory advice and the introduction of new financial products and services.

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    ADON legal
    2020 01 31
    Bright Future for Crowdfunding in Europe

    The European Parliament has reached a political agreement with the Council of the European Union and the Commission of the European Union regarding the set of legislation relating to crowdfunding activities. Such legislation includes the proposed Regulation (EU) 2018/0048(COD) on European crowdfunding service providers for business and the relevant amendments to MiFID II.

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    ADON legal
    2019 12 02
    EBA Guidelines on ICT and Security Risk Management

    European Banking Authority has published guidelines on ICT and security risk management (the Guidelines) addressed to financial institutions – credit institutions, payment service providers, and investment firms.

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    ADON legal
    2019 11 18
    ADON legal team grows stronger

    We are delighted to introduce our new team members Miroslava Kryštul and Simas Staniulis.

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    ADON legal
    2019 10 29
    Lessons to be learned from MisterTango case

    The regulatory sanctions imposed on MisterTango once
    again demonstrate the importance of creating a healthy compliance culture in
    the company. Each obliged entity must continuously review, improve and, most
    importantly, implement the internal rules and procedures to meet the regulatory
    standard.

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    ADON legal
    2019 10 18
    Donatas Šliora becomes a certified anti-money laundering specialist (CAMS)

    Experts of ADON legal continue to strengthen their competence in financial services compliance. Donatas Šliora became a Certified Anti-Money Laundering Specialist. The training received from the Association of Certified Anti-Money Laundering Specialists (ACAMS) will allow to better assist clients in reinforcing their internal controls and enhancing ability to meet the regulatory expectations. It also gives a better understanding of a variety of challenges faced by AML officers in financial institutions.

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    ADON legal
    2019 09 26
    ADON legal recognized by IFLR1000 as a notable Lithuanian law firm in financial and corporate

    The guide to the world’s leading financial and corporate law firms IFLR1000 has recognized ADON legal as a notable Lithuanian law firm in the financial and corporate category for 2019.

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    ADON legal
    2019 05 22
    Effective and timely communication with regulatory authorities is as important as compliance

    Donatas Šliora shared his insights with PaymentsCompliance on the fine imposed by Lithuanian State Data Protection Inspectorate on MisterTango, and the message it sends to the payment service providers operating in Lithuania.

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    ADON legal
    2019 05 20
    Donatas Šliora co-authored a Lithuanian chapter for the “Legal Environment Report for Belt and Road Countries”

    Donatas Šliora, the Founding Partner of ADON legal, co-authored a Lithuanian chapter for the “Legal Environment Report for Belt and Road Countries”.

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    ADON legal
    2019 02 13
    New Developments in the Regulatory Framework of Payment Service Providers

    Donatas Šliora of ADON legal shares his insights with PaymentsCompliance on the recent developments in the regulatory framework for payment service providers in Lithuania, as well as the latest developments in AML field (including the report of MONEYVAL and the position of European Commission regarding Lithuania’s efforts to transpose 4AMLD).

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    ADON legal