One of the focal discussion points involved the issues of regulatory standardisation in all three Baltic States, for instance, in the areas of regulating the offer document, market manipulation, MiFID, etc. Experts from supervisory authorities agreed on specific objectives and results to be achieved in the coming years.
The meeting also focused on issues affecting the development of the FinTech sector in the Baltics and the introduction of a new regulatory framework. At the meeting, a desire was also expressed to find the most efficient way of representing the interests of the entire Baltic region in the European Union; moreover, issues affecting various other information exchange and cooperation paths were discussed.
Kristaps Soms, Director of the Financial Instruments Market Supervision Department of the FCMC, emphasizes: “A close cooperation of the supervisors from the Baltics is vital and necessary to ensure an efficient supervision of the securities market and the development of the capital market. Many supervision issues are often of cross-border nature, and the Baltic States are frequently seen as a single market in the capital market context. At the same time, the Latvian, Lithuanian and Estonian capital markets are known for their individual characteristics; therefore, the transfer of good practice and the plans for a joint cooperation and development will certainly bring benefits in the future.”
The FCMC closely cooperates with the supervisors from the Baltic States by exchanging the information needed for supervision purposes, discussing the topical issues of supervision regularly and debating new initiatives and capital market trends.
For further information:
Head of the FCMC’s Communications Division