Onsite inspections

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In 2022, the Financial and Capital Market Commission (FCMC) is planning to carry out 43 various on-site inspections* in financial institutions to gain assurance that their activities comply with regulatory requirements, as well as to ensure the protection of the interests of customers of financial institutions.

In 2022, the FCMC intends to perform 12 inspections in the field of anti-money laundering and counter-terrorism and proliferation financing (AML/CTPF) and sanctions, five inspections in the field of information technology (IT), including the overall IT risk assessment, while 26 inspections are planned in the field of prudential supervision, of which one horizontal inspection of less significant banks, moreover the FCMC supervisors will also participate in the inspections performed by the European Central Bank.**

By segments, this year 14 inspections are planned in banks, two – in the insurance sector, two – in the pension sector, two – in the field of investment, two – in central securities depository, three – in the payment institutions, one – in electronic money institution, 12 – in investment firms, five – in savings and loan associations.

* On-site inspections will be carried out considering the epidemiological situation in the country and restrictions imposed, using a remote approach, if necessary.

** The ECB plan of on-site inspections is not publicly available yet, therefore they are not included in the FCMC’s on-site inspection plan.

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
To report on unauthorised firms
Data protection

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