Invalda INVL (hereinafter may be referred as the Company) informs, that 100 percent controlled company INVL Asset Management, UAB was notified by the Bank of Lithuania that it is being given a warning regarding process deficiencies in the provision of investment and investment fund management services and a fine of EUR 140 thousand for infringements relating to the distribution of mutual funds. It should be noted that this decision is not related to the areas of pension funds and alternative investments.
INVL Asset Management stresses that in providing asset management services it is guided by legislation and strives to deliver quality investment and asset management services. Taking into account the comments received during the inspection, INVL Asset Management will improve processes related to investment and asset management services and, with a view to full legal clarity, will examine the situation of the fine which has been levied where there is a divergence of the practical application and interpretation of European Union legislation in different countries.
The person authorized to provide additional information:
Darius Šulnis
President of Invalda INVL
E-mail [email protected]