FCMC imposes a 5325 euro fine on Baltic International Bank SE for the failure to timely submit and make public the audited annual report

19.08.2022
  • Section:
On 16 August 2022, the Board of the Financial and Capital Market Commission (FCMC) adopted a decision on the application of a fine of 5325 euro to Baltic International Bank SE for its failure to submit to the FCMC the audited annual report for 2021 together with the report of the certified auditor (hereinafter – audited annual report) within the time period specified by the Credit Institution Law and to make it public in a timely manner.

In accordance with the Credit Institution Law, a credit institution shall submit an audited annual report to the FCMC within 10 days of receipt of the auditor’s report, but no later than by 1 April of the year following the reporting year, and shall ensure that this account is made public by 1 April. Baltic International Bank SE had failed to do so within the specified time period, thereby violating the requirement pursuant to the Credit Institution Law that a credit institution has an obligation to prepare public reports within a specified time period in order to inform the public of the activities and financial indicators of the credit institution.

 

Further information:
Dace Jansone
Head of the FCMC’s Communications Division
Phone: 67774808
E-mail: dace.jansone@fktk.lv

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
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