Market

SIA "Baltic Payment Solutions"

Sanctions

Type of infringement:
Breaches of Law on Payment Services and Electronic Money and AM/CTF law and FCMC regulatory requirements: equity gap and weaknesses in customer due diligence and transaction monitoring
Date:
19.03.2018
Status:
In force 
Sanctions applied:
The provision of payment services has been suspended, except for the initiation of payments using the terminals located in the territory of Latvia for merchants and service providers registered in Latvia; a fine of 7280,70 euro imposed on the payment institution; a warning issued to the employee responsible for the AML/CTF Aleksandra Kuļbacka
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Sabiedrība ar ierobežotu atbildību "Money Express"

Sanctions

Type of infringement:
Type of infringement Breaches of Law on AM/CTF law . - the internal control system in the AML/CTF area is not adequate to ML/TF risks inherent for its activities and customers and does not ensure efficient functioning in compliance with the provisions of the AML/CFT regulations, including weaknesses in transaction monitoring and customer due diligence
Date:
02.08.2019
Status:
In force 
Sanctions applied:
A fine of 4472,82 euro imposed on the payment institution; a warning issued to the the member of the Board Nikolajs Timofejevs and employee responsible for the AML/CTF Diana Saprikina – Ivaņko.
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Nasdaq CSD SE

Sanctions

Type of infringement:
An infringement of Article 45 of the Regulation (EU) No. 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No. 236/2012
Date:
25.07.2018
Status:
In force 
Sanctions applied:
Public announcement
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Oint-Stock Company in Liquidation Trasta Komercbanka

Sanctions

Type of infringement:
Serious and sustained breaches of regulatory requirements in several areas for a long period - the Bank has been failing to comply with the regulatory capital requirements, while the Bank’s shareholders have not been able to address this non-compliance by increasing the Bank\'s capital; the Bank has been operating with losses for a long period and has no viable business model or development strategy adequate to the situation; serious and sustained breaches of the anti-money laundering and counter- terrorist financing regulations.
Date:
03.03.2016
Status:
In force 
Sanctions applied:
Withdrawal of authorisation (ECB decision)
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Type of infringement:
Deficiencies in adjusting several priority areas (capital increasing, improving the Bank's development strategy and internal control system).
Date:
22.01.2016
Status:
In force 
Sanctions applied:
Restrictions on Bank`s rights, activities and fulfilment of obligations by the Bank
Related article:

Type of infringement:
Infringement of the Credit Institution Law: insufficient reputation and credit risk assessment in certain cases
Date:
27.11.2015
Status:
In force 
Sanctions applied:
Warning
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Type of infringement:
Infringement of the Credit Institution Law: insufficient reputation and credit risk assessment in certain cases
Date:
12.08.2015
Status:
In force 
Sanctions applied:
Warning
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Ltd. "SEMFOPAY"

Sanctions

Type of infringement:
Breaches of AML/CTF law and FCMC regulatory requirements: weaknesses in customer due diligence and transaction monitoring
Date:
14.08.2018
Status:
In force 
Sanctions applied:
A fine of 25 000 euro imposed on the payment institution, temporary suspension of the institution's operations, dismissal of members of the Board Guntis Zālītis un Andrejs Gailis
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How to become a market participant

In order to become a participant of Latvian financial and capital markets and commence business activities, a credit institution, an insurance company, a reinsurance company, an insurance broker, a credit union, an investment management company, an investment firm, an operator of regulated market, a pension fund, a payment institution, an electronic money institution, as well as an alternative investment fund manager shall obtain operating authorisation (licence).

Learn more

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
Previous sign-in to the secretary:
67 774 801
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