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meta_id 3216158

pc nid 92998 Jun 04, 2026 msolomon@vixio.com Lithuania Lithuanian Bank horizon scanning
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Lithuanian Bank Approves Multiple Financial Market Participant Decisions and Administrative Settlements

On June 4, 2026, the Lithuanian Bank's Financial Market Supervision Committee (Finansų rinkos priežiūros komitetas) approved several decisions affecting financial market participants operating in Lithuania. The committee approved the acquisition of a stake in UAB Axiology DLT by UAB Pirmasis koinvestavimo fondas, managed by ILTE, allowing the indirect ownership of between 10 and 20 percent of the company's capital and voting rights. The committee also approved amendments to the articles of association of Urbo bankas, permitting the bank to increase its share capital from EUR 50.9 million to EUR 58.9 million, a decision made by shareholders at their general meeting on March 27, 2026. The committee approved Aija Medne as a candidate for the board of Gjensidge, an insurance company. Additionally, it approved the indirect acquisition by Permira 6 CF Investment Platform Limited, registered in the United Kingdom, of between 10 and 20 percent of the capital and voting rights of Alter Domus Agency Services Europe, UAB, a payment institution. The Lithuanian Bank concluded administrative settlements with two electronic money institutions. UAB Nuvei received a warning for conflict of interest management violations, a EUR 90,000 enforcement measure for enhanced customer identification and transaction monitoring breaches, and public disclosure for internal control procedure violations related to customer fund protection. The institution committed to submitting an audit report on anti-money laundering and counter-terrorism financing (AML/CTF) corrective measures by September 7, 2026. UAB TeslaPay received a EUR 19,000 enforcement measure for AML/CTF violations related to inadequate customer transaction monitoring procedures. The institution committed to implementing outstanding deficiency remediation measures by October 1, 2026, and submitting an audit report by December 1, 2026.

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Bank of Lithuania Issues €90,000 Fine to UAB Nuvei for Multiple Violations

On June 4, 2026, the Bank of Lithuania announced it had issued a €90,000 fine and warning to UAB Nuvei for violations found after a targeted inspection. Following a targeted scheduled inspection assessing Nuvei’s compliance with requirements for the prevention of money laundering and terrorist financing, and the protection of customer funds, the Bank found violations related to the management of conflicts of interest, enhanced customer identification, monitoring of customer business relationships and operations, and the implementation of internal control procedures for the protection of customer funds. Nuvei stated to the Bank of Lithuania that they had eliminated the identified violations and committed to a future audit of their actions and so applied for the possibility of concluding an administrative agreement. The Bank of Lithuania made the decision to conclude an administrative agreement and issued the following enforcement measures: A warning was issued for the violation of improper management of conflicts of interest. A fine of €90,000 for violations related to enhanced customer identification, monitoring of customer business relationships and operations A public announcement for the violation of internal control procedures in the area of ​​customer funds protection.