RE: Nearly another whole week without news6 Nov 2025 19:04
Recent Decisions of the Bank of Lithuania's Financial Market Supervision CommitteeThe Financial Market Supervision Committee (FMSC) of the Bank of Lithuania, which oversees key regulatory approvals, sanctions, and arrangements in the financial sector, announced several decisions in its meeting around early November 2025. These reflect ongoing efforts to balance innovation, compliance, and stability in Lithuania's fintech and insurance landscapes. Below, I elaborate on each point based on available details from official announcements and reports. Note that some specifics (e.g., the exact recipient of the payment licence) are not fully public yet, but the decisions align with standard FMSC procedures under EU directives like PSD2, MiFID II, and Solvency II.Decision
Elaboration
Granted a payment institution licence
The FMSC approved a new payment institution (PI) licence to an undisclosed applicant, enabling it to offer services such as payment initiation, account information, and execution across the EU via passporting rights. This follows a rigorous 90-day review process, including assessments of business plans, governance, AML/CTF controls, and capital adequacy (minimum €20,000–€125,000 depending on services). Lithuania, as a leading EU fintech hub with over 250 PIs/EMIs, uses such grants to foster competition while enforcing strict supervision. The licence is effective immediately, subject to ongoing reporting.
Approved the nominations submitted by Gjensidige and Artea Life Insurance
Gjensidige Forsikring (a major Nordic insurer with a Lithuanian branch) and UAB Artea Life Insurance (a local life insurer authorized since 2000) submitted nominations for key management or board positions. The FMSC conducted "fit and proper" tests, verifying candidates' integrity, skills, experience, and potential conflicts under the Law on Insurance and Solvency II. Approvals ensure robust governance in the insurance sector, where Lithuania supervises ~50 undertakings. This prevents risks like those seen in past scandals and supports market confidence; both firms can now proceed with appointments.
Authorised the acquisition of a stake in SumUp EU Payments
The FMSC authorized an investor (details pending public disclosure) to acquire a qualifying stake (likely >10%) in SumUp EU Payments UAB, an electronic money institution (EMI) licensed in 2019 for card-based payment solutions serving SMEs across Europe. Under Article 12 of the Law on Payment Institutions, such approvals require vetting the acquirer's financial soundness, reputation, and impact on the entity's viability. This greenlights strategic growth for SumUp, which processes billions in transactions annually, while safeguarding consumer protection and financial stability.
Allowed the acquisition of part of DelfinGroup LT
On November 4, 2025, the FMSC approved IPAS INDEXO (a Latvian financial group) to acquire an indirect shareholding exceeding 20% in DelfinGroup LT UAB, the Lithuanian subsidia
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