{"kind":"evidence_file","company":{"id":"20c2abf6-9127-4eac-8ae5-bc4896685d8f","name":"Asset Management Company \"INVL Asset Management\"","mergedInto":null},"asOf":"2026-10-24T19:48:06.830Z","asOfBasis":"instant","generatedAt":"2026-10-24T20:28:59.037Z","claims":[{"predicate":"identifier","value":"lei:213800V716ZRVKB1GS80","source":"ESMA Sanctions Register","sourceUrl":"https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_sanctions","sourceRecordId":"sn7372","observedAt":"2026-09-12T19:07:50.986Z","confirmedAt":"2026-10-23T12:00:14.233Z","validFrom":null,"validTo":null,"supersededLater":null},{"predicate":"name","value":"asset management invl asset management","source":"ESMA Sanctions Register","sourceUrl":"https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_sanctions","sourceRecordId":"sn7372","observedAt":"2026-09-12T19:07:50.960Z","confirmedAt":"2026-10-23T12:00:14.219Z","validFrom":null,"validTo":null,"supersededLater":null},{"predicate":"primary_country","value":"LT","source":"ESMA Sanctions Register","sourceUrl":"https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_sanctions","sourceRecordId":"sn7372","observedAt":"2026-09-12T19:07:50.968Z","confirmedAt":"2026-10-23T12:00:14.222Z","validFrom":null,"validTo":null,"supersededLater":null}],"listings":[{"listingId":"7372","regime":"Bank of Lithuania (LSC)","program":"Debarment","state":"lifted","stateSince":"2026-09-12T19:14:37.309Z","recordedAt":"2026-09-12T19:07:51.004Z","designatedAt":"2019-05-14T00:00:00.000Z","validTo":null,"legalBasis":null,"reason":"1. The Management Company has failed to comply with the obligation to act in good faith, fairly and professionally as well as under the best possible conditions and in the best interests of its clients while managing portfolios of financial instruments of its clients, as Management Company charged a portfolio management fee for the part of the portfolio invested in collective investment undertakings managed by the Company itself. It has also failed to provide for effective organisational and administrative measures aimed at preventing conflicts of interest that could adversely affect its clients’ interests, thereby violating the requirements set out in Article 29(1) and Article 16(2) of the Law on Markets in Financial Instruments of the Republic of Lithuania (respectively Art. 24(1) and Art. 16(3) paragraph 1 of MiFID II Directive). 2. The Management Company has failed to comply with the obligation to avoid conflicts of interest as regards the inducements provided or received thereby. Under the Cooperation Agreement with Financial Brokerage Company that belongs to the same group of entities (FMĮ \"INVL Finasta”), the Management Company has been paying it 50% of the management fee for the provision of services constituting management of portfolios of financial instruments managed on behalf of its clients, thereby violating the requirements set out in Article 29(12) and Article 28(1) of the Law on Markets in Financial Instruments of the Republic of Lithuania, prohibiting the provision and receipt of such payments (respectively Art. 24(9) paragraph 1 and Article 23(1) of MiFID II Directive). 3. The Management Company has failed to comply with legal requirements for reporting to its clients on the management of portfolios of financial instruments. Periodic reports submitted to clients by the Management Company do not meet legal requirements and the Company has infringed Article 29(4) and Article 31(1 and 3) of the Law on Markets in Financial Instruments of the Republic of Lithuania (respectively Art. 24(3), 25(6) paragraph 1 anf 25(6) paragraph 4 of MiFID II Directive) as well as the requirements set out in Article 44(4)(d) and Article 60(2)(c-e) of Regulation No 2017/565. The Board of the Bank of Lithuania has resolved: 1. To notify UAB INVL Asset Management on the violations of legal acts indicated above (bullet points 1-3). 2. To instruct UAB INVL Asset Management to eliminate all violations of legal acts referred to in this Resolution and operational deficiencies specified in the Inspection Report by no later than 1 July 2019.","sanctionType":null,"documentUrl":"https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn7372","assertedBy":["ESMA Sanctions Register"],"sourceNow":"ESMA Sanctions Register"},{"listingId":"7372","regime":"Bank of Lithuania (LSC)","program":"MiFID","state":"in_force","stateSince":"2026-09-12T19:14:30.587Z","recordedAt":"2026-09-12T19:14:30.587Z","designatedAt":"2019-05-14T00:00:00.000Z","validTo":null,"legalBasis":null,"reason":"1. The Management Company has failed to comply with the obligation to act in good faith, fairly and professionally as well as under the best possible conditions and in the best interests of its clients while managing portfolios of financial instruments of its clients, as Management Company charged a portfolio management fee for the part of the portfolio invested in collective investment undertakings managed by the Company itself. It has also failed to provide for effective organisational and administrative measures aimed at preventing conflicts of interest that could adversely affect its clients’ interests, thereby violating the requirements set out in Article 29(1) and Article 16(2) of the Law on Markets in Financial Instruments of the Republic of Lithuania (respectively Art. 24(1) and Art. 16(3) paragraph 1 of MiFID II Directive). 2. The Management Company has failed to comply with the obligation to avoid conflicts of interest as regards the inducements provided or received thereby. Under the Cooperation Agreement with Financial Brokerage Company that belongs to the same group of entities (FMĮ \"INVL Finasta”), the Management Company has been paying it 50% of the management fee for the provision of services constituting management of portfolios of financial instruments managed on behalf of its clients, thereby violating the requirements set out in Article 29(12) and Article 28(1) of the Law on Markets in Financial Instruments of the Republic of Lithuania, prohibiting the provision and receipt of such payments (respectively Art. 24(9) paragraph 1 and Article 23(1) of MiFID II Directive). 3. The Management Company has failed to comply with legal requirements for reporting to its clients on the management of portfolios of financial instruments. Periodic reports submitted to clients by the Management Company do not meet legal requirements and the Company has infringed Article 29(4) and Article 31(1 and 3) of the Law on Markets in Financial Instruments of the Republic of Lithuania (respectively Art. 24(3), 25(6) paragraph 1 anf 25(6) paragraph 4 of MiFID II Directive) as well as the requirements set out in Article 44(4)(d) and Article 60(2)(c-e) of Regulation No 2017/565. The Board of the Bank of Lithuania has resolved: 1. To notify UAB INVL Asset Management on the violations of legal acts indicated above (bullet points 1-3). 2. To instruct UAB INVL Asset Management to eliminate all violations of legal acts referred to in this Resolution and operational deficiencies specified in the Inspection Report by no later than 1 July 2019.","sanctionType":null,"documentUrl":"https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn7372","assertedBy":["ESMA Sanctions Register"],"sourceNow":"ESMA Sanctions Register"}],"ownership":[],"lists":[{"source":"ESMA Sanctions Register","readAt":"2026-10-23T12:00:38.517Z","recordsRead":845,"publishedAt":null,"publishedAtBasis":null,"publisherVersion":null,"publisherRecordCount":null,"daysOldWhenRead":null,"detail":null,"statement":"Read on 23 October 2026. No date from the publisher is read for this file, so its age is not known here."}],"reading":{"assessmentId":"91ea3ba0-fdf4-42ab-af03-cd72cbf793bb","takenAt":"2026-09-12T19:15:02.316Z","methodology":"v4","level":"medium","overall":65,"digest":"f284e09da87b7e610e7d8bcb587483952a94da3f","coverage":{"dimensions":[{"counts":{"found":1},"sources":[{"name":"ESMA Sanctions Register","status":"found","attemptedAt":"2026-09-12T19:14:40.601Z"}],"dimension":"sanctions"}],"jurisdictions":[{"gap":"No company register for this jurisdiction has been connected to this system, and none has been examined.","reasons":["registered here"],"countryId":"LT","registers":[]}]},"ownership":null},"limits":["Whether each listing was in force is rebuilt from what was recorded here: when it was first read, when a source stopped or resumed carrying it, and when its published term ended. A listing in force at an authority before this system first read it is shown from that first read.","No ownership verdict is kept for this company. Verdicts are kept for companies registered where shareholders are read here: Estonia, Latvia and Poland."]}