| Abstract [eng] |
Financial services and financial institutions play significant role in any economy. This paper provides an overview of the substantial financial services, enumerated in the Law on Financial institutions of Republic of Lithuania and emphasize the factors of some exposed greater risks, concerning the provision of financial services mentioned, which result in a specific licensing or unlisencing financial services legal regulation. Licensing is a method of supervision of financial services institutions, providing a possibility to restrict the right of entering the financial market for business entities, which do not satisfy the requirements ensuring that they have sufficient measures to provide financial services properly, meet their obligations and make themselves not so vulnerable meeting market shocks. This paper also discusses some general topics on attitudes towards licensing, the efficiency and some principles of such regulation method. |
