Financial Institutions
Practice Areas
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Why us?
Experience highlights
Insights
Increasing the maturity of the financial-services sector is the primary strategic goal of the Bank of Lithuania. For this reason, ensuring that fintech companies and other financial institutions comply with all legal requirements during the licensing process and subsequent operations is critical.
- Entities wishing to provide financial services in Lithuania must first obtain an activity license from the Bank of Lithuania. We are familiar with the licensing process and advise payment and electronic-money institutions, crowdfunding platform operators, and other financial institutions seeking licenses to operate. We help our clients register on the lists of consumer credit providers and their intermediaries that are maintained by the Bank of Lithuania.
- We help clients that are licensed to provide financial services in Lithuania expand their operations internationally and conduct all processes necessary to commence operations in other EU Member States.
- In some cases we can help clients make slight adjustments to their business models, thus putting them outside the scope of financial services regulation. We provide practical advice to clients developing service-delivery processes.
- The activities of the financial sector are regulated by the Republic of Lithuania, as well as the EU. Knowing all the relevant acts and keeping track of all relevant changes is a major challenge; and one that requires significant resources and time. We help our clients understand the constantly changing legal regime and assist in the implementation of changes as they become necessary, as well as providing advice on compliance issues.
- The prevention of money laundering and terrorist financing is a critical part of financial-institution activities. How to comply with sanctions and other restrictive measures, and how to properly perform know-your-client procedures – we answer these and other questions from a practical perspective.
- Supervisory authorities regularly conduct both routine and unplanned inspections of financial institutions, which can sometimes result in extremely painful sanctions both to reputation and finances. We help clients answer the questions asked during these inspections, forming their official position, as well as working efficiently to correct any defects identified during inspections.
Victory at the Supreme Administrative Court: proceedings reopened due to unlawfully applied sanction
13 May 2025An attempt to challenge the legality of an arbitration award has been prevented
9 May 2025Major victory – the CJEU to interpret PSD2 in our client’s case
5 May 2025An arbitration case on the performance of a share purchase option agreement
10 September 2024Victory in defending clients’ interests from accusations of causing wilful bankruptcy
5 September 2024Finbee Verslui raises EUR 35 million from Pollen Street Capital
23 July 2024Victory before the Supreme Administrative Court of Lithuania in the annulment of the Bank of Lithuania’s sanction
20 June 2024Successfully defended clients against the claim for USD 13.7 million in damages
14 June 2024Victory in a Fintech case concerning unlawful detention of funds
6 June 2024Representing client in the CJEU regarding interpretation of “virtual coins” for tax purposes
3 June 2024Victory at the Court of Justice of the EU setting a significant precedent for financial institutions
22 February 2024Advised on tax matters related to business restructuring
7 February 2024Consulted Probanx Solutions on complex IT issues
29 June 2023Represented the Netherlands-based investment group on the sale of shares of an e-money institution
8 June 2023Advised Eika Asset Management on GDPR compliance
31 May 2023Successfully represented clients in a dispute over shares of a fintech company
3 February 2023Successfully represented fintech company in 2 million EUR damage litigation
27 January 2023Helped Orion Leasing with data protection issues
15 December 2022Represented the client before the State Labour Disputes Commission
11 October 2022Latvian Bank’s victory in 5 LCIA arbitrations worth 70 million EUR
26 May 2022Why us?
Increasing the maturity of the financial-services sector is the primary strategic goal of the Bank of Lithuania. For this reason, ensuring that fintech companies and other financial institutions comply with all legal requirements during the licensing process and subsequent operations is critical.
- Entities wishing to provide financial services in Lithuania must first obtain an activity license from the Bank of Lithuania. We are familiar with the licensing process and advise payment and electronic-money institutions, crowdfunding platform operators, and other financial institutions seeking licenses to operate. We help our clients register on the lists of consumer credit providers and their intermediaries that are maintained by the Bank of Lithuania.
- We help clients that are licensed to provide financial services in Lithuania expand their operations internationally and conduct all processes necessary to commence operations in other EU Member States.
- In some cases we can help clients make slight adjustments to their business models, thus putting them outside the scope of financial services regulation. We provide practical advice to clients developing service-delivery processes.
- The activities of the financial sector are regulated by the Republic of Lithuania, as well as the EU. Knowing all the relevant acts and keeping track of all relevant changes is a major challenge; and one that requires significant resources and time. We help our clients understand the constantly changing legal regime and assist in the implementation of changes as they become necessary, as well as providing advice on compliance issues.
- The prevention of money laundering and terrorist financing is a critical part of financial-institution activities. How to comply with sanctions and other restrictive measures, and how to properly perform know-your-client procedures – we answer these and other questions from a practical perspective.
- Supervisory authorities regularly conduct both routine and unplanned inspections of financial institutions, which can sometimes result in extremely painful sanctions both to reputation and finances. We help clients answer the questions asked during these inspections, forming their official position, as well as working efficiently to correct any defects identified during inspections.
Experience highlights
Victory at the Supreme Administrative Court: proceedings reopened due to unlawfully applied sanction
13 May 2025An attempt to challenge the legality of an arbitration award has been prevented
9 May 2025Major victory – the CJEU to interpret PSD2 in our client’s case
5 May 2025An arbitration case on the performance of a share purchase option agreement
10 September 2024Victory in defending clients’ interests from accusations of causing wilful bankruptcy
5 September 2024Finbee Verslui raises EUR 35 million from Pollen Street Capital
23 July 2024Victory before the Supreme Administrative Court of Lithuania in the annulment of the Bank of Lithuania’s sanction
20 June 2024Successfully defended clients against the claim for USD 13.7 million in damages
14 June 2024Victory in a Fintech case concerning unlawful detention of funds
6 June 2024Representing client in the CJEU regarding interpretation of “virtual coins” for tax purposes
3 June 2024Victory at the Court of Justice of the EU setting a significant precedent for financial institutions
22 February 2024Advised on tax matters related to business restructuring
7 February 2024Consulted Probanx Solutions on complex IT issues
29 June 2023Represented the Netherlands-based investment group on the sale of shares of an e-money institution
8 June 2023Advised Eika Asset Management on GDPR compliance
31 May 2023Successfully represented clients in a dispute over shares of a fintech company
3 February 2023Successfully represented fintech company in 2 million EUR damage litigation
27 January 2023Helped Orion Leasing with data protection issues
15 December 2022Represented the client before the State Labour Disputes Commission
11 October 2022Latvian Bank’s victory in 5 LCIA arbitrations worth 70 million EUR
26 May 2022Insights
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