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All financial undertakings now publish information on proportional holdings on their website

12.7.2012

In Amendment no. 75/2010 to Act No. 161/2002 on financial undertakings, the following paragraph was added to Article 19 on Good business practices and customs:

"A financial undertaking shall specify on its website the names and proportional holdings of all persons owning an interest of 5% or more in the undertaking."

Last month the Financial Supervisory Authority made an inquiry into the practices of this amendment by financial undertakings followed by an independent survey. This survey revealed that all financial undertakings, according to the definition of the Act on financial undertakings, now publish on their website the names and proportional holdings of all person owning an interest of 5% or more in the undertaking.

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