FCMC issues a licence to AS “TWINO Investments”

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On 31 August, the Board of the Financial and Capital Market Commission (FCMC) adopted a decision to issue a licence to AS "TWINO Investments" for the provision of investment services and investment ancillary services.

The authorised investment services indicated in the licence issued to AS “TWINO Investments” are reception and transmission of orders in relation of one or more financial instruments, execution of orders on behalf of clients, dealing on own account, portfolio management, placing of financial instruments without an obligation to redeem financial instruments.

The authorised ancillary investment services indicated in the licence issued to AS “TWINO Investments” are holding of financial instruments, currency exchange services if they are related to the provision of investment services, provision of services related to primary placement of financial instruments.

After obtaining a licence during the transitional period, the platform managed by AS “TWINO Investments” will phase out offering of investments in the form of entering into a means of cession, replacing them entirely by offering financial instruments.

AS “TWINO Investments” will inform customers about the changes related to the change of status, protection mechanisms applicable to investors in relation to transactions in financial instruments in accordance with the Financial Instruments Market Law and relevant Directive (MiFID II), packaged retail and insurance-based investment products (PRIIPs) and Prospectus Regulation, as well as to inform customers regarding the functioning of investor protection system in accordance with the provisions of Investor Protection Law.

Correspondingly, AS “TWINO Investments” is obliged to inform customers that means of cession offered during the transitional period are not protected by the investor protection mechanisms mentioned above, as well as of the risks associated with investments in means of cession, financial instruments and other relevant issues.

For further information:
Aija Brikše
Senior Public Relations Specialist
FCMC’s Communications and Financial Literacy Division
Phone: +37167774807
E-mail: aija.brikse@fktk.lv


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