REGULATORY AUDITS/INVESTIGATIONS AND REGULATORY COURT DISPUTES

Financial sector companies are regulated by different regulators such as the Bank of Lithuania (financial regulator) Financial Crime Investigation Service, State Data Protection Inspectorate, and others. Different regulators conduct different types of investigations and audits.

The main regulator for financial service providers is the Bank of Lithuania. Regulator for virtual assets (crypto) services providers is Financial Crime Investigation Service (FNTT).

ECOVIS ProventusLaw lawyers and other professionals have long lasting experience in regulatory investigations and court disputes appealing regulatory decisions.  We represented our clients and participated in plenty of regulatory inspections carried out by the Bank of Lithuania, FNTT and other institutions. We know the regulatory practice, requirements and frequently asked questions client may expect during the investigation.

Attorney at law Kestutis Kvainauskas has probably the biggest experience in regulatory court disputes forming the first Lithuanian court practice appealing decisions of financial regulator. Kestutis Kvainauskas experience starts from the first Lithuanian financial regulatory disputes in 2006 when he represented investment management company IPV appealing regulatory decisions of Lithuanian Securities Commission which was financial regulator before regulatory function was transferred to the Bank of Lithuania.

The scope of the service in regulatory investigations and regulatory court disputes includes but is not limited to:

• Evaluation of client documentation and procedures regarding inspected topic.
• Preparation for the regulatory audit/investigation, including employee training.
• Participation in regulatory investigation and client representation during the process.
• Preparation of the action plan to remedy deficiencies identified by the regulator and drafting of necessary internal documentation.
• Appeal of regulatory decisions.
• Client representation in the courts of all instances.