THE SECURITIES COMMISSION OF THE REPUBLIC OF LITHUANIA
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ENLT
Konstitucijos Av. 23, LT-08105 Vilnius
Phone:(8 5) 2725091, Fax:(8 5) 2725089
E-mail: vpk.info@vpk.lt, Code 1886 39917
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FUNCTIONS AND OBJECTIVES

 

THE SECURITIES COMMISSION OF THE REPUBLIC OF LITHUANIA is the securities market supervisory authority founded by the Seimas of the Republic of Lithuania, whose composition, functions and principal tasks are defined in the Law on Securities of the Republic of Lithuania, the Law on Markets in Financial Instruments, the Law on Collective Investment Undertakings and the Law on Supplementary Voluntary Pension Accumulation of the Republic of Lithuania.

MAIN OBJECTIVES OF THE SECURITIES COMMISSION ARE:

  • to monitor the observance of the rules of fair trading in financial instruments trading.  
  • to provide necessary measures that guarantee effective functioning of the securities market and investor protection.
  • to put forth proposals concerning the formation of the national economic policy that fosters development of the markets in financial instruments.
  • to disseminate information about the principles of functioning of the markets in financial instruments.
  • to take up other measures necessary for the implementation of the Law on Securities, the Law on Markets in Financial Instruments and other relative regulations.

WHILE IMPLEMENTING THESE OBJECTIVES, THE SECURITIES COMMISSION PERFORMS THE FOLLOWING KEY FUNCTIONS:

  • prepares, approves, amends and repeals regulations governing licensing, establishment, reorganisation, liquidation, and operation of stock exchanges and intermediaries of public trading in financial instruments;
  • provides explanations and recommendations on issues concerning public trading in financial instruments;  
  • issues, suspends or revokes licences for regulated markets, financial brokerage firms and brokers;
  • monitors, analyses, inspects and otherwise supervises the activities of financial brokerage firms, regulated markets and their participants, the Central Securities Depository, and account managers;
  • imposes sanctions provided for in the Law on Markets in Financial Instruments and other legislation of the Republic of Lithuania on violators of the aforementioned Law and the resolutions of the Securities Commission;
  • publishes or contributes to the publications on the operation and regulation of markets in financial instruments;  
  • organises examinations and qualification tests for financial brokers;
  • cooperates with associations of intermediaries;
  • concludes agreements with counterpart foreign authorities on cooperation and exchange of information;
  • cooperates and executes exchange of information with counterpart foreign authorities;
  • cooperates and executed exchange of information with the authorities in charge of the oversight of credit institutions, insurance companies and insurance brokers, as well as other financial market supervisory authorities;
  • appoints its representative to the Commission for the coordination  of the regulation and supervision of the activities of financial institutions and insurance companies;
  • performs other functions provided for in the laws of the Republic of Lithuania.
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