Baltic States financial sector supervisors enhance cooperation

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Today, 24.01.2020, the Financial and Capital Market Commission (FCMC) held a meeting of the Baltic States' financial sector supervisory authorities, to discuss market developments in the Baltic region, as well as developments in the supervision of Latvia, Estonia and Lithuania's financial sectors and issues relating to various areas of cooperation. During the meeting, a desire was also expressed to seek the most efficient methods to represent the interests of the entire Baltic region.

The Chairperson of the FCMC, Santa Purgaile: ”Cooperation between the Baltic States is of great importance because many supervisory issues go beyond the scope of Latvia’s domain and, consequently, close cooperation with supervisors of other countries is an overriding concern. At the same time, although the financial and capital markets of Latvia, Lithuania and Estonia can be distinguished one from the other for their individual characteristics, they are relatively small and the Baltic States’ markets are often associated as a single unit in the international business environment. Therefore the common understanding and supervisory approach, as well as the identification and implementation of good practice are extremely essential for strengthening the Baltic financial and capital markets and enhancing their development.”

From left to right: Andres Kurgpold, Member of the Management Board of Estonian Financial Supervision Authority (Eesti Finantsinspektioon); Kristīne Černaja-Mežmale, Member of the FCMC’s Board; Ramūnas Baravykas, Advisor to Executive Director of the Supervision Service at the Bank of Lithuania; Jekaterina Govina, Executive Director of the Supervision Service at the Bank of Lithuania; Santa Purgaile, Chairperson of the FCMC; Kilvar Kessler, Chairman of the Board of Estonian Financial Supervision Authority (Eesti Finantsinspektioon); Andre Nõmm, Member of the Board and Sim Tammer, Member of the Board.

The FCMC works closely with the Baltic States’ supervisors, exchanging information necessary for supervisory purposes, regularly discussing supervisory developments and new initiatives and financial market trends.

For further information:
Communications Division
Financial and Capital Market Commission
Phone: +371 67774808


Kungu iela 1, Riga, LV-1050
6 7774800
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