The activities of a credit institution must at all times meet the conditions and requirements under which the licence was issued. Thus, the supervisory authorities have to check and evaluate the reliability, suitability and correspondence to the requirements of the law of the persons specified by the Credit Institutions Act prior to issuing the licence as well as during the activities of the credit institution. Only such persons who can guarantee the sound and reliable management of the credit institution can be appointed or elected to the executive positions or other positions specified by the law, that is, persons who have the qualifications and diligence that correspond to their responsibilities and who are trustworthy. The requirements set on the persons specified by the Credit Institutions Act depend on the concrete position of the person or his or her range of responsibilities. While judging the reliability, punishments and other cases of legal coercion and analysing the earlier activities of the persons specified by the Credit Institutions Act the supervisory authorities will take into account the nature of the breach of law, intention and frequency, the severity of the punishment and the time that has lapsed since the breach of law.
Special attention is paid on violations committed with the aim of personal material gain.
Securing the sound and reliable management of a credit institution is the obligation of its management and supervisory bodies. The current procedure also provides for gathering and preserving information at the credit institution on the reliability, suitability and conformity with legal requirements of the persons specified by the Credit Institutions Act, as well as information on the economic interests and conflict of interests of the managers of the credit institution. In accordance with international practice, Eesti Pank considers it advisable that every credit institution creates a system of supervision and evaluation that would guarantee the observance of the provisions set down by the Credit Institutions Act . This has to guarantee that besides other information a credit institution also has information on the ability of the persons specified by the Credit Institutions Act to manage their property and personal affairs, the record of their punishments and other forms of legal coercion applied to them, as well as business activities that could adversely affect fulfilling their professional responsibilities.