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