Estonian Watchdog Freezes Krediidipank Cyprus Owners’ Votes
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Estonia’s financial watchdog froze the voting rights of Cyprus-registered shareholders of AS Eesti Krediidipank to increase the transparency of the lender’s management.
The Financial Supervision Authority in Tallinn suspended the voting rights of five shareholders who represent less than 45 percent of total votes, Allan Soon, a spokesman for Krediidipank, said in an e-mailed response to Bloomberg questions today. The move seeks to reduce the risks of low transparency, the supervisor said in a separate e-mailed statement.