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Bank of Lithuania provided recommendations on raising capital through STOs

04/11/2019 The Bank of Lithuania has issued the Guidelines on Security Token Offering (STO) which provide greater regulatory clarity and aim at higher investor protection. The Bank of Lithuania is

Before the BREXIT deal Revolut jumps into European insurance business with Lithuanian Insurance Broker licence

28/10/2019 The Bank of Lithuania included Revolut Payments UAB into the list of Insurance Brokers. This happened just one day before the United Kingdom and European Union have reached BREXIT

CJEU: Internet users must explicitly agree to the installation of cookies

The Court of Justice of the European Union (CJEU) ruled on that the consent is not validly constituted if, in the form of cookies, the storage of information or access

ECOVIS ProventusLaw strengthens it’s positions in compliance area

12/08/2019 Loreta Andziulytė, attorney at law and a head of Data Protection team of ECOVIS ProventusLaw, was Certified as Information Privacy Professional (Europe) by the International Association of Privacy Professionals

CJEU: Websites using Facebook ‘Like’ Button are responsible for User data

09/08/2019 The Court of Justice of the European Union (CJEU) ruled on that websites that use Facebook’s ‘Like’ button can be held liable for data collection.

Updated information from State Data Protection Inspectorate regarding direct marketing through electronic channels

01/08/2019 State Data Protection Inspectorate updated information regarding personal data processing for direct marketing purpose and announced the guidelines on how data processing of such persons should be carried out

Attorney at law of ECOVIS ProventusLaw was certified as AML specialist (CAMS)

18/07/2019 ECOVIS ProventusLaw strengthens it‘s competences in the field of anti-money laundering. Association of Certified Anti-Money Laundering Specialists (ACAMS) affirmed that Inga Karulaitytė-Kvainauskienė, attorney at law of ECOVIS ProventusLaw and

Foreigners setting up start-ups in Lithuania will receive start-up visas twice as fast as now

21/06/2019 As of 1 July 2019, the process of start-ups visa (“Startup visa”)  issuance for foreigners from the third countries will be shorten twice than before in Lithuania – from

Biometric data proceeding: what should be known?

31/05/2019 State data protection inspectorate carried out an investigation on biometric personal data processing in the gyms. Biometric data is considered to be personal data received after special technical processing,

The first significant fine was imposed for non compliance with the GDPR

17/05/2019 After less than 1 year from the General Data Protection Regulation (hereinafter – GDPR) entry into force, State Data Protection Inspectorate (hereinafter – Inspectorate) imposed first significant fine for

“Legal 500” once again evaluated ECOVIS ProventusLaw as one of the strongest law firms

12/04/2019 ECOVIS ProventusLaw remains in the top law offices in it’s main areas of expertise – banking, finance and capital markets, dispute resolution, labour law, real estate and construction as

The List of data processing operations for which an Assessment of Data Protection Impact becomes mandatory has been approved

State Data Protection Inspectorate has approved the list of data processing operations subject to the requirement to perform a Data Protection Impact Assessment.

Starting from March 2019 the employment of citizens from third countries will be much easier

22/02/2019 From the 1st of March 2019 the procedures of foreigners arriving to Lithuania for non-highly qualified jobs become way easier. Employers will no longer need to provide documents, confirming

Lithuania proactively implements anti-money laundering measures for financial institutions

18/02/2019 Lithuania‘s efforts and attention to money laundering and measures to combat such illicit activities was acknowledged by Moneyval, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures

What Should You Know When Transferring Data to the United Kingdom After the Brexit Agreement Is Not Signed?

22/01/2019 After the UK Parliament rejected the Brexit Agreement terms proposed by the Prime Minister, companies which transfer personal data to this country in some way should pay attention.

What measures for personal data protection shall be taken in the organization?

04/12/2018 The State Data Protection Inspectorate of the Republic of Lithuania has published 20 minimum organizational and technical requirements and measures aimed at protecting personal data in each organization. These

ECOVIS ProventusLaw strengthens position among the best law firms

12/04/2018 A major international legal directory “Legal 500” recently published newest law firm ranking according to which ECOVIS ProventusLaw remains among the best law firms in following rankings: – Banking,

Pan-European Crowdfunding platforms will provide their services across the whole EU

06/04/2018 European Commission takes actions to promote Europe as a more attractive place for start-ups by introducing new regulations on crowdfunding. Commission has proposed a draft regulation to enable crowdfunding

Lithuania made a triple jump into becoming the European FinTech centre

12/02/2018 The fact about Lithuania as one the most favourable and friendly jurisdiction for FinTech companies, planning to offer payment service across the EU is spreading out. 30 electronic money

UK financial institutions will lose EU “passporting rights” after the BREXIT, EU chief negotiator Michel Barnier says

23/11/2017 “BREXIT means BREXIT, everywhere. Those who claim that the UK should pick parts of the single market must stop this contradiction. The single market is a package, with four

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