Estonia's Financial Supervision Authority (Finantsinspektsioon) issued a precept to payment institution Ühisarveldused AS after an inspection identified shortcomings in general governance, capital management, reporting accuracy, and compliance with internal regulations, including a breach of the principle of separation of client assets. The company must remedy the deficiencies by the end of 2025. The precept concludes that Ühisarveldused AS (register code 14192799) did not meet the minimum requirements of the Payment Institutions and E-money Institutions Act for organising management operations and ensuring correct reporting. The on-site inspection ran from 27 December 2023 to 31 January 2024, and the precept can be appealed to the Tallinn Administrative Court within 30 days of notification.
Finantsinspektsioon 2025-03-25
Estonia's Finantsinspektsioon issues precept requiring Ühisarveldused AS to fix governance reporting and client asset segregation shortcomings
Estonia's Financial Supervision Authority issued a precept to Ühisarveldused AS after finding deficiencies in governance, capital management, reporting accuracy, and compliance, including a breach of client asset separation. Ühisarveldused AS must address these issues by the end of 2025. The precept can be appealed to the Tallinn Administrative Court within 30 days.