Victory in a bank regulatory dispute

On 23 May 2016, the Supreme Court declined to review the Estonian Financial Supervision Authority’s (FSA) appeal thereby confirming Eesti Krediidipank’s victory against the regulator in lower courts. The bank and the FSA disagreed about whether the bank had fully complied with an order concerning governance of the bank issued by the FSA in 2013. The dispute helps to delimit the powers of the financial regulator. The bank was represented by DERLING’s partners Hannes Vallikivi and Elmer Muna.