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COVID-19. Personal data protection during pandemic

19/03/2020 The State Data Protection Inspectorate of the Republic of Lithuania has published information regarding processing of certain personal data in connection with the current situation due to coronavirus (COVID-19).

GDPR fines. What can we learn from mistakes? March 2020

18/03/2020 1&1 TELECOM Imposed fine. German supervisory authority (The Federal Commissioner for Data Protection and Freedom of Information (BfDI)) has imposed a fine of 9,550,000 euros on the telecommunications service

COVID-19 legal issues: what business need to know

18/03/2020 Employment relationships. How work can be organized and work functions performed to ensure the safety of both employees and employers. On their own initiative employees may: agree on remote

Lithuanian Fintech Landscape: Trends and Developments

09/03/2020 Fintech in Lithuania is a rapidly developing field on the intersection of traditional finance and cutting-edge IT. Compared to other fintech institutions, Lithuania possesses one highly distinctive feature: a

EU Commission published White paper on AI regulation

24/02/2020 On 19 February 2020, the European Commission has unveiled it’s plans on  the EU’s vision for digital policies, focusing on data and artificial intelligence governance and published a White Paper aiming

Lithuanian FinTech’s get access to TARGET2 allowing international Euro payments

14/02/2020 From February 2020 the Bank of Lithuania (Central Bank) has extended the capabilities of  CENTROlink system previously used only for the transferring of Euro (EUR) payments withing Single Euros

Initiatives in Artificial Intelligence regulation in the EU

30/01/2020 Policy-makers across the world are looking at ways to tackle the risks associated with the development of artificial intelligence (AI). The discussion around (AI) technologies and their impact on

Is blockchain technology GDPR compliant?

24/01/2020 In recent years we are facing with two new issues – blockchain technology and General Data Protection Regulation (hereinafter – GDPR). The blockchain network has no central authority. Since

ECOVIS ProventusLaw – Among the Leading FinTech Law Firms

20/01/2020 In the latest international law directory published by the “Chambers FinTech”, ECOVIS ProventusLaw was ranked among the leading FinTech law firms, and attorneys-at-law Inga Karulaitytė and Loreta Andziulytė were

Changes related to employment relationships: what will the 2020 bring?

10/01/2019 Since 1 January 2020 significant changes have entered into force regarding the regulation of labor relations in Lithuania. ECOVIS ProventusLaw has prepared a summary of changes related the labour and

Amendments to the Convention 108+: European standards for personal data protection will be applied in third countries

13/12/2019 In November 7, 2019, the Parliament of the Republic of Lithuania ratified the Protocol (CETS No. 223) amending the Convention (hereinafter – the Convention) for the Protection of Individuals

Financial and performance reports and budgeting for Fintechs

12/12/2019 What Fintech companies need to know about financial and performance reports, also budgeting – that was the topic of traditional Ecovis ProventusLaw Knowledge sharing morning, that was held on

Knowledge sharing morning: “GDPR: what to learn from mistakes?”

09/12/2019 Full house for two times – people attended ECOVIS ProventusLaw knowledge sharing events “GDPR: what to learn from mistakes?” and were keen to learn more about GDPR and how

Requirements for safeguarding of customer funds in Fintech companies: is there any upcoming changes?

05/12/2019 Proper is the principal aspect of stable and reliable operation of the electronic money and payment institution.

The Supreme Court of Lithuania ruled on reimbursement to the employer of overcompensation for unused annual leave

05/12/2019 The Supreme Court of Lithuania (SCL) has clarified when overcompensation for unused annual leave must not be refunded upon termination of the employment contract. The Judicial Panel of the

Option – an effective way to encourage the employee

28/11/2019 Nowadays, vast majority of the employers are facing the problem of retaining professional employees. High salary is not the only mean of encouraging an employee to dedicate themselves to

Ecovis ProventusLaw took part in Fintech Inn 2019

29/11/2019 ECOVIS ProventusLaw team together with partner Comply Advantage participated in one of the biggest Fintech conferences in Baltics – Fintech Inn, which took place in Vilnius, Lithuania, on 27-28

Discussion in the Lithuanian Parliament: how to manage Fintech risks?

25/11/2019 To open Fintech Inn week Fintech Hub LT whose active member is ECOVIS ProventusLaw, initiated Discussion “Financial technologies in Lithuania: possibilities and risks”, in Lithuanian Parlament:

How do companies manage to reduce the amount of personal data?

22/11/2019 State Data Protection Inspectorate published a summary of inspections of rental companies and evaluated the implementation of the data minimization principle and the obligation to inform the data subjects

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

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