The topic of municipal administrative supervision is not under much dispute, though this is a very important theme. Wider investigations are not conducted on this topic. Andruskevicius (2004, 2008) and Deviatnikovaite (2009) have analyzed state supervision of local self-government authorities. Bakaveckas (2004, 2007) has disclosed the problems, development and legal regulation of administrative supervision of local self-government, but these studies were not deep. The research aim of this paper is to disclose the administrative supervision of local self-government and to analyze the implementations forms of the Government Representative in the County. The analysis includes the period 2008-2012. [.]
The topic of municipal administrative supervision is not under much dispute, though this is a very important theme. Wider investigations are not conducted on this topic. Andruskevicius (2004, 2008) and Deviatnikovaite (2009) have analyzed state supervision of local self-government authorities. Bakaveckas (2004, 2007) has disclosed the problems, development and legal regulation of administrative supervision of local self-government, but these studies were not deep. The research aim of this paper is to disclose the administrative supervision of local self-government and to analyze the implementations forms of the Government Representative in the County. The analysis includes the period 2008-2012. [.]
Four main financial market supervision models can be distinguished: functional, institutional, twin-peaks and integrated. Functional and institutional models are being changed by the twin-peaks and integrated supervision models. Majority of the Member States of the European Union apply integrated supervision model. Financial crisis usually encourage amending supervision model. The latest financial crisis is not an exemption. It has triggered a lot of reforms at worldwide, European Union and national levels. General trend of on-going regulatory changes and reforms is the increasing role of the state in the financial market supervision. Furthermore, performed analysis of legal acts changes and initiatives in the European Union, Member States and United States of America reveals a new emerging trend – the growing role of central banks in micro-prudential and macro-prudential supervision of financial market. The Republic of Lithuania also falls under this trend.
Four main financial market supervision models can be distinguished: functional, institutional, twin-peaks and integrated. Functional and institutional models are being changed by the twin-peaks and integrated supervision models. Majority of the Member States of the European Union apply integrated supervision model. Financial crisis usually encourage amending supervision model. The latest financial crisis is not an exemption. It has triggered a lot of reforms at worldwide, European Union and national levels. General trend of on-going regulatory changes and reforms is the increasing role of the state in the financial market supervision. Furthermore, performed analysis of legal acts changes and initiatives in the European Union, Member States and United States of America reveals a new emerging trend – the growing role of central banks in micro-prudential and macro-prudential supervision of financial market. The Republic of Lithuania also falls under this trend.
Four main financial market supervision models can be distinguished: functional, institutional, twin-peaks and integrated. Functional and institutional models are being changed by the twin-peaks and integrated supervision models. Majority of the Member States of the European Union apply integrated supervision model. Financial crisis usually encourage amending supervision model. The latest financial crisis is not an exemption. It has triggered a lot of reforms at worldwide, European Union and national levels. General trend of on-going regulatory changes and reforms is the increasing role of the state in the financial market supervision. Furthermore, performed analysis of legal acts changes and initiatives in the European Union, Member States and United States of America reveals a new emerging trend – the growing role of central banks in micro-prudential and macro-prudential supervision of financial market. The Republic of Lithuania also falls under this trend.
Four main financial market supervision models can be distinguished: functional, institutional, twin-peaks and integrated. Functional and institutional models are being changed by the twin-peaks and integrated supervision models. Majority of the Member States of the European Union apply integrated supervision model. Financial crisis usually encourage amending supervision model. The latest financial crisis is not an exemption. It has triggered a lot of reforms at worldwide, European Union and national levels. General trend of on-going regulatory changes and reforms is the increasing role of the state in the financial market supervision. Furthermore, performed analysis of legal acts changes and initiatives in the European Union, Member States and United States of America reveals a new emerging trend – the growing role of central banks in micro-prudential and macro-prudential supervision of financial market. The Republic of Lithuania also falls under this trend.
Lately financial supervision was at the forefront of the agenda of European Union. Financial market supervision in the European Union has a complex legal and institutional framework and its implementation is a complex process involving various aspects of economics and public administration. Historically financial supervision was an object of European Union members states. Prior to the financial crisis member states organized financial supervision on their own, mostly according to tendencies of the financial markets. The biggest impulse to financial market supervision was the financial crisis of 2008, after which the most important elements of European Union financial supervision system were created. The implementation of these elements became the main objective of Lithuanias financial supervision system. Because of this the problem of the research is – How to ensure effective implementation of European Union financial supervision system in Lithuania? The aim of the research is to analyze the implementation of European Union financial supervision system. The aim is achieved by three objectives: 1) Define the main theoretical aspects of financial market supervision policy implementation; 2) Analyze European Union financial market supervision system legal and institutional mechanisms; 3) Identify European Union financial supervision system implementation problems in Lithuania. The object of the research is European Union financial supervision system. During the theoretical analysis it came to light that benefits public policy instruments are defined not only by its contents but its implementation specifics. Main three preconditions of financial market supervision were identified – consumer protection, financial market stability and monopoly formation interruption. By analyzing theoretical aspects of financial market supervision implementation it was revealed that financial market supervision can be separated into two elements – microprudential and macroprudential supervision and both shortcomings of these elements were revealed. Macroprudential supervision was not given needed priority, and sectoral supervision model which dominated microprudential supervision was outdated. Financial crisis of 2008 revealed the shortcomings of European Union financial supervision system of that time and need for more integration. New legal and institutional mechanisms were created in the European Union. European system of financial supervision (ESFS) addresses both macroprudential and microprudential supervision policy but it was revealed that they need more and broader legally binding instruments. Banking Union is an important but complex set of European Union financial supervision legal instruments which delegates a number of sovereign financial supervision rights from national financial supervision to the European Central Bank, which obtained a broad financial market supervision mandate. Analyzing the qualitative research and documents analysis it can be noted that implementation of European Union financial supervision system in Lithuania has problems that can be clearly defined and can be easily revealed by performing a research of even a small scale. Problems noted were the limited jurisdiction of European Union financial supervision system, financial and administration burdens associated with the system and lack of information. These problems are known, actual and longstanding.
Lately financial supervision was at the forefront of the agenda of European Union. Financial market supervision in the European Union has a complex legal and institutional framework and its implementation is a complex process involving various aspects of economics and public administration. Historically financial supervision was an object of European Union members states. Prior to the financial crisis member states organized financial supervision on their own, mostly according to tendencies of the financial markets. The biggest impulse to financial market supervision was the financial crisis of 2008, after which the most important elements of European Union financial supervision system were created. The implementation of these elements became the main objective of Lithuanias financial supervision system. Because of this the problem of the research is – How to ensure effective implementation of European Union financial supervision system in Lithuania? The aim of the research is to analyze the implementation of European Union financial supervision system. The aim is achieved by three objectives: 1) Define the main theoretical aspects of financial market supervision policy implementation; 2) Analyze European Union financial market supervision system legal and institutional mechanisms; 3) Identify European Union financial supervision system implementation problems in Lithuania. The object of the research is European Union financial supervision system. During the theoretical analysis it came to light that benefits public policy instruments are defined not only by its contents but its implementation specifics. Main three preconditions of financial market supervision were identified – consumer protection, financial market stability and monopoly formation interruption. By analyzing theoretical aspects of financial market supervision implementation it was revealed that financial market supervision can be separated into two elements – microprudential and macroprudential supervision and both shortcomings of these elements were revealed. Macroprudential supervision was not given needed priority, and sectoral supervision model which dominated microprudential supervision was outdated. Financial crisis of 2008 revealed the shortcomings of European Union financial supervision system of that time and need for more integration. New legal and institutional mechanisms were created in the European Union. European system of financial supervision (ESFS) addresses both macroprudential and microprudential supervision policy but it was revealed that they need more and broader legally binding instruments. Banking Union is an important but complex set of European Union financial supervision legal instruments which delegates a number of sovereign financial supervision rights from national financial supervision to the European Central Bank, which obtained a broad financial market supervision mandate. Analyzing the qualitative research and documents analysis it can be noted that implementation of European Union financial supervision system in Lithuania has problems that can be clearly defined and can be easily revealed by performing a research of even a small scale. Problems noted were the limited jurisdiction of European Union financial supervision system, financial and administration burdens associated with the system and lack of information. These problems are known, actual and longstanding.
Lately financial supervision was at the forefront of the agenda of European Union. Financial market supervision in the European Union has a complex legal and institutional framework and its implementation is a complex process involving various aspects of economics and public administration. Historically financial supervision was an object of European Union members states. Prior to the financial crisis member states organized financial supervision on their own, mostly according to tendencies of the financial markets. The biggest impulse to financial market supervision was the financial crisis of 2008, after which the most important elements of European Union financial supervision system were created. The implementation of these elements became the main objective of Lithuanias financial supervision system. Because of this the problem of the research is – How to ensure effective implementation of European Union financial supervision system in Lithuania? The aim of the research is to analyze the implementation of European Union financial supervision system. The aim is achieved by three objectives: 1) Define the main theoretical aspects of financial market supervision policy implementation; 2) Analyze European Union financial market supervision system legal and institutional mechanisms; 3) Identify European Union financial supervision system implementation problems in Lithuania. The object of the research is European Union financial supervision system. During the theoretical analysis it came to light that benefits public policy instruments are defined not only by its contents but its implementation specifics. Main three preconditions of financial market supervision were identified – consumer protection, financial market stability and monopoly formation interruption. By analyzing theoretical aspects of financial market supervision implementation it was revealed that financial market supervision can be separated into two elements – microprudential and macroprudential supervision and both shortcomings of these elements were revealed. Macroprudential supervision was not given needed priority, and sectoral supervision model which dominated microprudential supervision was outdated. Financial crisis of 2008 revealed the shortcomings of European Union financial supervision system of that time and need for more integration. New legal and institutional mechanisms were created in the European Union. European system of financial supervision (ESFS) addresses both macroprudential and microprudential supervision policy but it was revealed that they need more and broader legally binding instruments. Banking Union is an important but complex set of European Union financial supervision legal instruments which delegates a number of sovereign financial supervision rights from national financial supervision to the European Central Bank, which obtained a broad financial market supervision mandate. Analyzing the qualitative research and documents analysis it can be noted that implementation of European Union financial supervision system in Lithuania has problems that can be clearly defined and can be easily revealed by performing a research of even a small scale. Problems noted were the limited jurisdiction of European Union financial supervision system, financial and administration burdens associated with the system and lack of information. These problems are known, actual and longstanding.
Lately financial supervision was at the forefront of the agenda of European Union. Financial market supervision in the European Union has a complex legal and institutional framework and its implementation is a complex process involving various aspects of economics and public administration. Historically financial supervision was an object of European Union members states. Prior to the financial crisis member states organized financial supervision on their own, mostly according to tendencies of the financial markets. The biggest impulse to financial market supervision was the financial crisis of 2008, after which the most important elements of European Union financial supervision system were created. The implementation of these elements became the main objective of Lithuanias financial supervision system. Because of this the problem of the research is – How to ensure effective implementation of European Union financial supervision system in Lithuania? The aim of the research is to analyze the implementation of European Union financial supervision system. The aim is achieved by three objectives: 1) Define the main theoretical aspects of financial market supervision policy implementation; 2) Analyze European Union financial market supervision system legal and institutional mechanisms; 3) Identify European Union financial supervision system implementation problems in Lithuania. The object of the research is European Union financial supervision system. During the theoretical analysis it came to light that benefits public policy instruments are defined not only by its contents but its implementation specifics. Main three preconditions of financial market supervision were identified – consumer protection, financial market stability and monopoly formation interruption. By analyzing theoretical aspects of financial market supervision implementation it was revealed that financial market supervision can be separated into two elements – microprudential and macroprudential supervision and both shortcomings of these elements were revealed. Macroprudential supervision was not given needed priority, and sectoral supervision model which dominated microprudential supervision was outdated. Financial crisis of 2008 revealed the shortcomings of European Union financial supervision system of that time and need for more integration. New legal and institutional mechanisms were created in the European Union. European system of financial supervision (ESFS) addresses both macroprudential and microprudential supervision policy but it was revealed that they need more and broader legally binding instruments. Banking Union is an important but complex set of European Union financial supervision legal instruments which delegates a number of sovereign financial supervision rights from national financial supervision to the European Central Bank, which obtained a broad financial market supervision mandate. Analyzing the qualitative research and documents analysis it can be noted that implementation of European Union financial supervision system in Lithuania has problems that can be clearly defined and can be easily revealed by performing a research of even a small scale. Problems noted were the limited jurisdiction of European Union financial supervision system, financial and administration burdens associated with the system and lack of information. These problems are known, actual and longstanding.
2011 – 2014 was of great importance to the credit institutions working within Lithuania. This period included all kinds of major developments, from suspension of credit institutions, to insolvencies and bankruptcies all of which was put under the magnifying glass by the actively working journalists. These events were actively discussed in Lithuania by both the public and various political figures which gave rise to multiple opinions and never before seen discussions. However, most importantly these actions gave rise to questions related to the supervision and legal regulation of credit institutions based within Lithuania, which is carried out by the Bank of Lithuania. Generally clients who decide to lend their monetary assets to banks or credit unions should be aware that they assume part of the risks of a possible credit institution collapse. However, once the deposit and/or investment is made, a state owned company "Deposit and Investment Insurance" (VĮ "Indėlių ir investicijų draudimas") also becomes responsible for it, if it's equal or less than 100.000 EUR (one hundred thousand euros). Adequate supervision of credit institutions in Lithuania and as a matter of fact – any other country, should result in a much lower risk for the creditor who lent or placed monetary deposits within the credit institution. This supervision should provide adequate protection for the creditors from the risk of credit institution insolvency. Effective supervision of credit institutions should prohibit credit institutions from taking inadequate risks, to prohibit moving away from the classic banking principles and most importantly, this supervision should prohibit violation of laws. These circumstances helps to create a stable financial framework. Legal regulation is the basis of ensuring that financial institutions, which possess a license to engage in acceptance and issue of monetary deposits from non-professional market participants have to be financially secure and reliable. Constant supervision of how credit institutions act in accordance to the legal legislation acts, prompt response to the problems which surface within the scope of activities of the credit institution, protection of depositor and public interest, create assumptions for supervisory authorities to exercise effective supervision of credit institutions. This master's paper indicates the effective supervision of credit institutions regulatory legal concept. Effective supervision of credit institutions regulation and supervisory authority of both the Bank of Lithuania and the European Central Bank (from here onwards - ECB) is analyzed. It should be taken into account that the ECB provides direct supervision to the three primary Lithuanian credit institutions; the ones that fall outside its scope are supervised by the Bank of Lithuania. Aforementioned institutions cooperating together issue and/or cancel authorizations for credit institutions to operate (credit unions are excluded), in addition, they evaluate the 5 acquisition of qualified share packets. It must be noted that supervision of credit institutions performed by the Bank of Lithuania must be done in accordance to the instructions and requirements placed by the ECB. In order to find out whether credit institution supervision legal regulation is effective in Lithuania, this paper provides an analysis of relevant Lithuanian legislation and how this legislation embodies the principles and requirements of effective bank supervision as pointed out by Basel bank supervision committee as well as International Credit Union Regulator's Network and World Council of Credit Unions pointed out supervisory principles and requirements. In addition, this paper compares Lithuanian legislation related to credit institution regulation to legislation used by financially and economically developed states. Furthermore, this paper includes topic related observations provided by the experts of this field. An analysis provided by this master's paper points out an observation that certain shortcomings (limitations) originate from the regulation of supervisory authorities (institutions) responsibility and requirements for credit institution management and application of external audit. This paper points out a list of suggestions and recommendations on how to remove/avoid these shortcomings. It is established within Lithuanian legislation that damages caused by the illegal actions of the Bank of Lithuania or its employee's, which relate to the supervision of financial market, are rewarded if the injured party proves that the Bank of Lithuania or its employees were guilty of damages. Analysis provided in the paper shows that supervision of credit institutions are more efficient when losses/-damages caused by the supervisory authorities or its employees are rewarded only in cases when losses/-damages were caused with dishonest intentions (in bad faith). It should be noted that the findings of the bank audit will become more reliable and helpful to supervisory institutions for purposes of supervision, if Lithuanian legislation would set requirements pursuant to which the auditors responsible for bank audits would be required to possess specialized knowledge and competence. In addition, in order to make credit institution supervision more effective, it is necessary to establish clear-cut requirements for auditors who perform bank audits; these requirements should include a principle of professional skepticism which should be recognizable and visible in the documents provided by the auditor. Criminal liability should be established in Lithuanian legislation for bank executives who make hasty decisions which in turn lead to bank insolvency, bankruptcy – collapse. These legal acts should enable supervisory authorities to carry out effective supervision of credit institutions. Setting the appropriate supervisory requirements for the credit institutions determine the level of effectiveness of its supervision. Since the root of problems within credit unions is the passive participation of the union managing members, it is of utmost importance to establish clearly
2011 – 2014 was of great importance to the credit institutions working within Lithuania. This period included all kinds of major developments, from suspension of credit institutions, to insolvencies and bankruptcies all of which was put under the magnifying glass by the actively working journalists. These events were actively discussed in Lithuania by both the public and various political figures which gave rise to multiple opinions and never before seen discussions. However, most importantly these actions gave rise to questions related to the supervision and legal regulation of credit institutions based within Lithuania, which is carried out by the Bank of Lithuania. Generally clients who decide to lend their monetary assets to banks or credit unions should be aware that they assume part of the risks of a possible credit institution collapse. However, once the deposit and/or investment is made, a state owned company "Deposit and Investment Insurance" (VĮ "Indėlių ir investicijų draudimas") also becomes responsible for it, if it's equal or less than 100.000 EUR (one hundred thousand euros). Adequate supervision of credit institutions in Lithuania and as a matter of fact – any other country, should result in a much lower risk for the creditor who lent or placed monetary deposits within the credit institution. This supervision should provide adequate protection for the creditors from the risk of credit institution insolvency. Effective supervision of credit institutions should prohibit credit institutions from taking inadequate risks, to prohibit moving away from the classic banking principles and most importantly, this supervision should prohibit violation of laws. These circumstances helps to create a stable financial framework. Legal regulation is the basis of ensuring that financial institutions, which possess a license to engage in acceptance and issue of monetary deposits from non-professional market participants have to be financially secure and reliable. Constant supervision of how credit institutions act in accordance to the legal legislation acts, prompt response to the problems which surface within the scope of activities of the credit institution, protection of depositor and public interest, create assumptions for supervisory authorities to exercise effective supervision of credit institutions. This master's paper indicates the effective supervision of credit institutions regulatory legal concept. Effective supervision of credit institutions regulation and supervisory authority of both the Bank of Lithuania and the European Central Bank (from here onwards - ECB) is analyzed. It should be taken into account that the ECB provides direct supervision to the three primary Lithuanian credit institutions; the ones that fall outside its scope are supervised by the Bank of Lithuania. Aforementioned institutions cooperating together issue and/or cancel authorizations for credit institutions to operate (credit unions are excluded), in addition, they evaluate the 5 acquisition of qualified share packets. It must be noted that supervision of credit institutions performed by the Bank of Lithuania must be done in accordance to the instructions and requirements placed by the ECB. In order to find out whether credit institution supervision legal regulation is effective in Lithuania, this paper provides an analysis of relevant Lithuanian legislation and how this legislation embodies the principles and requirements of effective bank supervision as pointed out by Basel bank supervision committee as well as International Credit Union Regulator's Network and World Council of Credit Unions pointed out supervisory principles and requirements. In addition, this paper compares Lithuanian legislation related to credit institution regulation to legislation used by financially and economically developed states. Furthermore, this paper includes topic related observations provided by the experts of this field. An analysis provided by this master's paper points out an observation that certain shortcomings (limitations) originate from the regulation of supervisory authorities (institutions) responsibility and requirements for credit institution management and application of external audit. This paper points out a list of suggestions and recommendations on how to remove/avoid these shortcomings. It is established within Lithuanian legislation that damages caused by the illegal actions of the Bank of Lithuania or its employee's, which relate to the supervision of financial market, are rewarded if the injured party proves that the Bank of Lithuania or its employees were guilty of damages. Analysis provided in the paper shows that supervision of credit institutions are more efficient when losses/-damages caused by the supervisory authorities or its employees are rewarded only in cases when losses/-damages were caused with dishonest intentions (in bad faith). It should be noted that the findings of the bank audit will become more reliable and helpful to supervisory institutions for purposes of supervision, if Lithuanian legislation would set requirements pursuant to which the auditors responsible for bank audits would be required to possess specialized knowledge and competence. In addition, in order to make credit institution supervision more effective, it is necessary to establish clear-cut requirements for auditors who perform bank audits; these requirements should include a principle of professional skepticism which should be recognizable and visible in the documents provided by the auditor. Criminal liability should be established in Lithuanian legislation for bank executives who make hasty decisions which in turn lead to bank insolvency, bankruptcy – collapse. These legal acts should enable supervisory authorities to carry out effective supervision of credit institutions. Setting the appropriate supervisory requirements for the credit institutions determine the level of effectiveness of its supervision. Since the root of problems within credit unions is the passive participation of the union managing members, it is of utmost importance to establish clearly
2011 – 2014 was of great importance to the credit institutions working within Lithuania. This period included all kinds of major developments, from suspension of credit institutions, to insolvencies and bankruptcies all of which was put under the magnifying glass by the actively working journalists. These events were actively discussed in Lithuania by both the public and various political figures which gave rise to multiple opinions and never before seen discussions. However, most importantly these actions gave rise to questions related to the supervision and legal regulation of credit institutions based within Lithuania, which is carried out by the Bank of Lithuania. Generally clients who decide to lend their monetary assets to banks or credit unions should be aware that they assume part of the risks of a possible credit institution collapse. However, once the deposit and/or investment is made, a state owned company "Deposit and Investment Insurance" (VĮ "Indėlių ir investicijų draudimas") also becomes responsible for it, if it's equal or less than 100.000 EUR (one hundred thousand euros). Adequate supervision of credit institutions in Lithuania and as a matter of fact – any other country, should result in a much lower risk for the creditor who lent or placed monetary deposits within the credit institution. This supervision should provide adequate protection for the creditors from the risk of credit institution insolvency. Effective supervision of credit institutions should prohibit credit institutions from taking inadequate risks, to prohibit moving away from the classic banking principles and most importantly, this supervision should prohibit violation of laws. These circumstances helps to create a stable financial framework. Legal regulation is the basis of ensuring that financial institutions, which possess a license to engage in acceptance and issue of monetary deposits from non-professional market participants have to be financially secure and reliable. Constant supervision of how credit institutions act in accordance to the legal legislation acts, prompt response to the problems which surface within the scope of activities of the credit institution, protection of depositor and public interest, create assumptions for supervisory authorities to exercise effective supervision of credit institutions. This master's paper indicates the effective supervision of credit institutions regulatory legal concept. Effective supervision of credit institutions regulation and supervisory authority of both the Bank of Lithuania and the European Central Bank (from here onwards - ECB) is analyzed. It should be taken into account that the ECB provides direct supervision to the three primary Lithuanian credit institutions; the ones that fall outside its scope are supervised by the Bank of Lithuania. Aforementioned institutions cooperating together issue and/or cancel authorizations for credit institutions to operate (credit unions are excluded), in addition, they evaluate the 5 acquisition of qualified share packets. It must be noted that supervision of credit institutions performed by the Bank of Lithuania must be done in accordance to the instructions and requirements placed by the ECB. In order to find out whether credit institution supervision legal regulation is effective in Lithuania, this paper provides an analysis of relevant Lithuanian legislation and how this legislation embodies the principles and requirements of effective bank supervision as pointed out by Basel bank supervision committee as well as International Credit Union Regulator's Network and World Council of Credit Unions pointed out supervisory principles and requirements. In addition, this paper compares Lithuanian legislation related to credit institution regulation to legislation used by financially and economically developed states. Furthermore, this paper includes topic related observations provided by the experts of this field. An analysis provided by this master's paper points out an observation that certain shortcomings (limitations) originate from the regulation of supervisory authorities (institutions) responsibility and requirements for credit institution management and application of external audit. This paper points out a list of suggestions and recommendations on how to remove/avoid these shortcomings. It is established within Lithuanian legislation that damages caused by the illegal actions of the Bank of Lithuania or its employee's, which relate to the supervision of financial market, are rewarded if the injured party proves that the Bank of Lithuania or its employees were guilty of damages. Analysis provided in the paper shows that supervision of credit institutions are more efficient when losses/-damages caused by the supervisory authorities or its employees are rewarded only in cases when losses/-damages were caused with dishonest intentions (in bad faith). It should be noted that the findings of the bank audit will become more reliable and helpful to supervisory institutions for purposes of supervision, if Lithuanian legislation would set requirements pursuant to which the auditors responsible for bank audits would be required to possess specialized knowledge and competence. In addition, in order to make credit institution supervision more effective, it is necessary to establish clear-cut requirements for auditors who perform bank audits; these requirements should include a principle of professional skepticism which should be recognizable and visible in the documents provided by the auditor. Criminal liability should be established in Lithuanian legislation for bank executives who make hasty decisions which in turn lead to bank insolvency, bankruptcy – collapse. These legal acts should enable supervisory authorities to carry out effective supervision of credit institutions. Setting the appropriate supervisory requirements for the credit institutions determine the level of effectiveness of its supervision. Since the root of problems within credit unions is the passive participation of the union managing members, it is of utmost importance to establish clearly
In order to induce state servants to follow the established standards of ethics, to guarantee their ethical behavior in professional activity, to prevent the emergence of ethical problems and their spread in state service, managerial perspective is necessary, i.e. ethics management, which helps to achieve higher standards of behavior, to raise the level of professionalism of civil servants, to increase public confidence in the government and its institutions, to form positive image of state service. The work elaborates on the problems of ethics management and its improvement opportunities in Lithuanian state service. The aim of the work is to analyze the spread of ethics management measures and their realization in Lithuanian state service. The following objectives were set to achieve the aim: to define the concept of ethics in the context of scientific discussions by revealing its significance in the state service; to list ethics management measures that contribute to the guarantee of observance of established ethical standards in the state service; to evaluate ethics management institutional and legitimate infrastructure in Lithuanian state service; to reveal ethics management improvement opportunities in Lithuanian state service. Methods used in the work are: analysis of scientific literature, legal acts and documents, qualitative research – semi-structured interview. The research revealed that ethics in Lithuanian state service is guaranteed by legal regulation, institutional supervision, and initial training of state servants. However, these are not sufficiently effective measures to guarantee the observance of ethical standards in the professional activity of state servants. In order to avoid possible ethical problems and to guarantee efficiently functioning state service, periodical, purposeful and expedient ethical training of state servants is necessary. Moreover, ethics infrastructure must be created and implemented not only at the level of the state, but also at the institutional level, regarding ethical issues that are relevant for a specific institution.
Rapid creation of the Protected Territories Net in the Siauliai region began after the restoration of Lithuanian independence. Today protected territories in the region cover 114158 ha or 13,4% of the whole territory, to the country extend it makes 15,3%. The average in the European Union counties makes 18%. The area of the protected territories should be increased in the perspective as the strategic plans of activity of the State Service for Protected Areas suppose to expand these territories up to 16,7% before the year 2015. The creation process of the European Ecological Net NATURA began in the region in the year 2000; the Net consists of territories important for birds' protection (TIBP) and territories important for residence protection (TIRP). The NATURA 2000 covers 7,1% of the region territory and 6% of the State territory, the average in the European Union counties makes 14%. The greater part of the Ecologic Net is established in the territories which are already protected, in the biosphere ground. TIBP have been confirmed by the European Commission and the territories meeting the selection criteria of the territories important for residence protection will be confirmed during the next 4 years. The creation of the NATURA 2000 will promote the preservation of the endangered population species. After the conduction of the research it appeared that there are 162 protected species in the Siauliai region, which are registered in the Lithuanian Red Data Book: 76 (47%) species are in the state of disappearance and are endangered rapidly. In order to guarantee the protection of the biological variety and development of the regular forest economy 743 places of forest devastation (PFD) were inventoried in the in the forests of the Siauliai region, the total place of which covers 2005 ha what makes 1,2% of the forest place and in the country it makes 1,3%. All in all 8907 PFD were inventoried in Lithuania, total space – 2649,9 ha. The majority of PFD was inventoried in the National forests – 94% and only some of them - 4% - in the private forests. The forests cover 135,2 thousand ha of the territory in the Siauliai region, amount of woodland – 29%, amount of woodland in Lithuania – 32,5%. Private forests in the region make 56% of all forests. The inventory of PFD in the National and private forests is not a complete process, therefore, in the future its number shall increase. The state of PFD in the National forests is good, but in the private forests it is comparatively bad. About 20% of the inventories places were destroyed in the private forests. In order to protect PFD in the future it is necessary to grand them the status of protected territories. The state of protected territories is worsening especially in the swamps and swamp laces of the forests. They are degrading because of the intensive agricultural and forest activities, development of infrastructure and tourism. The researches have shown that the part (16%) of the territories important for residence protection and (10%) territories important for birds' protection are degrading in the Siauliai region because of the human activity and not keeping the supervision activities. Therefore, in order to save the main eco-systems, species and populations of the country for the future generations it is necessary to budget more money for the management of the protected territories (for the preparation of the plans of nature management), care, supervision and environmental control.
