The Latvian Government has published the eighteenth financial sector update newsletter

20.11.2019

The Latvian Government has published the eighteenth financial sector update newsletter with a message from Santa Purgaile, Chairwoman of the Financial and Capital Market Commission.

In this issue the main articles are: 

  • Financial and Capital Market Commission (FCMC) suspends the provision of financial services by JSC “PNB Banka”
  • Financial Intelligence Units from across Europe meet in Riga to take part in an International Financial Intelligence Task Force
  • S&P Global Ratings and Fitch maintain a long-term foreign currency sovereign credit rating of ‘A’ and ‘A-‘ respectively, with a stable outlook
  • FIU Latvia freezes EUR 212.5 million assets in the first nine months of 2019, up 2.8 times from the same period in 2018
  • The number of cases prosecuted for money laundering has doubled in the first eight months of 2019, compared with the same period in 2018.
  • FCMC applies a fine of one million euros to JSC “PrivatBank” and imposes several legal obligations
  • State Revenue Service applies sanctions, imposing fines in total of EUR 301,675


Read more here

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