bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 20.10.2017 | Name days: Leonīda, Leonīds
LatviaLatvia

FCMC will tightly control corresponding bank accounts

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Kristaps Zakulis

From now on FCMC will inspect corresponding bank account more carefully and responsibly, because as Latvijas Krajbanka’s collapse has shown those accounts can be used for different illegal schemes, new head of FCMC Kristaps Zakulis reveales.

«Even before my election to the post FCMC prepared changes to the monitoring process that would influence finance market regulation and monitoring operatives as well as to be reviewed in FCMC Council. When altering the monitoring process corresponding account will be given the utmost attention. This does not mean that these accounts were not monitored before it is just that only in the event of serious suspicions that these accounts were investigated in detail. Now this concept will slightly change and corresponding accounts will be monitored closely. This accounts for all financial institutions», – Zakulis explained.

Only then, if FCMC sees that, the financial institution is big and stable and its private shareholder cannot agree upon receiving a certificate, that the money is allegedly in his disposal has been seized due to some liability, then maybe the detailed investigation of this institution’s corresponding accounts will not be so deep for some specific institutions.

«Keeping in mind the unfortunate experience from the fall of Latvijas Krajbanka, FCMC attention during detailed investigations will be versed specifically towards corresponding accounts and other asset complications, which do not appear on direct reviews and the reception of certificates that prove that everything is alright is a lot harder. It can definitely be said that FCMC will begin an investigation based on these questions.»- Zakulis says.

He also informed that FCMC is preparing suggestions for risk limits – how much money and what financial institutions that money is allowed to be deposited in. This will be the connection between bank capital and risk transactions.

«We foresee that we will be the first in Europe to introduce a larger limit to these transactions, because we are also the first in Europe to be loudly burnt by these transactions. Latvia is being generally accused of introducing the toughest requirements unlike European officials, but Latvijas Krajbankas case shows that, this regulation is justified. Of course we should expect that the Banking sector will react to this proposal, will the financial structures be able to comply with these limitations, because there are big and small players on the market. Proposals will be jointly evaluated, and then, perhaps, we can reach an agreement in the rules of regulation», – Zakulis said.

Ref: 102.109.109.513


Leave a reply

Investor activity made easier between Latvia and Vietnam

An intergovernmental agreement has been signed between the Republic of Latvia and Socialist Republic of Vietnam on prevention of double taxation and tax avoidance in relation to income tax.

Colder masses of air to enter Latvia in coming days; precipitation to be limited

Although high atmospheric pressure will be present above Latvia in the coming days, southern regions in Latvia will experience short-term precipitation on Saturday, 12 October, caused by the cyclone active above Poland. Colder masses of air will enter Latvia in the coming days.

Maltese journalist said to be killed by remotely-controlled explosive

Officials in Malta have unveiled it is assumed that investigative journalist Daphne Caruana Galizia was murdered by an explosive places under her car, which was detonated remotely.

Prime Minister: Latvia cannot accept additional asylum seekers

Latvia cannot afford to resettle additional asylum seekers, said Prime Minister Māris Kučinskis during his meeting with European Commission President Jean-Claude Juncker on Thursday, 19 October.

Scandinavians purchase tourism company in Lithuania; changes expected in Latvia too

Dutch Otravo online travel organization has expanded and has purchased Lithuanian online travel agency Interno Partneris, thereby entering the Baltic market.

Ombudsman: non-citizen status matter should be resolved in next decade

The next ten years may be the transition period to ‘put an end’ to the non-citizen status in Latvia, said ombudsman Juris Jansons in an interview to LTV programme Rīta panorama.

Swedish Foreign Minister: harassment exists at highest political level

The Foreign Affairs Minister of Sweden, Margot Wallström, has commended the current sexual assault and harassment awareness campaign in social media and urged to fellow politicians to address the problem.

Latvenergo recognized as Latvia’s most valuable company for tenth time

Latvenergo has been recognized as Latvia’s most valuable company in 2017. Its value grew 34% in comparison with 2016, according to the TOP 101 list of Latvia’s most valuable companies compiled by Prudentia and Nasdaq Riga.

Number of births and number of deaths decline in Latvia

During the first nine months of this year 15,723 babies were born in Latvia, which is 1,113 children fewer than in the corresponding period of the last year.

CC applies binding conditions for the sale of MTG Broadcasting AB

Latvian Competition Council has decided to permit Bite Lietuva to purchase MTG Broadcasting AB group’s businesses in Latvia. CC has applied several binding conditions to prevent a possible impact on competition on the television services and advertisement market.

Eesti Energia warns: Limiting CO2 emissions on capacity could endanger energy supply

Estonian energy giant Eesti Energia has evaluated that a plan under discussion in the European Union to introduce a carbon dioxide release limit for capacity mechanisms to qualify for subsidies could adversely affect the security of supply in Estonia and the Baltic states.

Solidarity tax norm recognized as non-compliant with Latvia’s Constitution

On Thursday, 19 October, the Constitutional Court of the Republic of Latvia declared the Solidarity tax norm as non-compliant with the country’s Constitution.

Survey: Riga residents go to the doctor’s the most often

34% of residents undergo regular health checks, according to Mana Aptieka & Apotheka health index. In addition, women are twice as serious about health checks as men.

LG cozies up with idea of rebuilding railway tracks to Reņģe, Latvia

Lithuania‘s Lietuvos Geležinkeliai has sent a mixed message as to what it intends to do next following an EC fine of nearly 28 million against it over the dismantling a 19-km railway stretch with the Latvian village of Rengė.

Čigāne: European Union’s social pillar is very important to Latvia

On Wednesday, 18 October, Saeima’s European Affairs Committee approved Latvia’s national position on the introduction of EU Pillar of Social Rights.

40% of all car problems are relate to lighting, battery and security systems

It has been determined that 41% of all car problems are related to lighting devices, 39% of problems are related to malfunctioning batteries, and 44% of problems are related to security systems.

Xi Jinping: Chinese socialism has entered new era

China's ruling Communist Party's five-year congress has been opened with the country's President Xi Jinping outlining a general plan for the future development of China.

Public transport in Latvia procurement may be at risk

Considering that continued and unhindered provision of public transport services on ten routes may become at risk from 1 January 2018 onward, Public Transport Council made a decision to ask the Road Directorate to sign a new contract to ensure services are available in multiple Latvian cities, as confirmed by Road Directorate.

Iraqi forces retake disputed territories from Kurdish forces

Three weeks after the Iraqi Kurdistan independence referendum, forces of the Iraqi central government have taken control of the territories in the country, which had been seized by Kurdish fighters after victories over the terrorist group «Islamic State».

Sale of MTG’s business in Baltics to Providence concludes successfully

Wednesday, 18 October, marked the successful conclusion of the sale of Baltic assets owned by Swedish media concern Modern Times Group to Providence Equity Partners. From now on companies previously owned by MTG in Baltics will function as a single organization named All Media Baltics, as confirmed by the company’s manager Pierre Danon.

Estonian port company makes 29% more revenue in January-September

Estonian state port company Port of Tallinn has made the revenue in the amount of 99.1 million euros in the first nine months of 2017, which is a 29% increase compared to January-September in 2016.

42 gambling halls to be closed down in Riga in next five years

On Wednesday, 18 October, Riga City Council supported plans to close another 33 gambling halls in the city. With that, a total of 42 gambling halls will be liquidated in the next five year.

Latvia has the highest index of female CEOs among EU member states

The highest index of female CEOs among European Union member states belongs to Latvia – 47%. In total, only 33% of CEOs in EU were female last year, according to data from the Central Statistical Bureau of Latvia.

Survey: more and more people take notice of benefits provided by EU membership

65% of Latvian residents believe the country’s membership in the European Union has brought tangible benefits. A similar opinion was voiced by 64% of residents of all EU member states in the Eurobarometer study performed by the European Parliament.

17 persons in need of international aid are relocated to Latvia from Turkey

On Tuesday, 17 October, seventeen individuals, including nine children, in need of international protection were relocated to Latvia from Turkey as part of EU resettlement programme, as confirmed by Latvian Office of Citizenship and Migration Affairs.