bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 24.04.2019 | Name days: Nameda, Visvaldis, Ritvaldis
LatviaLatvia

Latvian Saeima wants to disallow shareholders to work in company management board

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOn Thursday, 20 September, Saeima approved in the first reading amendments to the Credit Institutions Law that provide for multiple measures to enhance Latvia’s finance system and its long-term stability, as reported by the parliament’s press-service.

The legislative draft provides that persons with a criminal record and persons involved in active insolvency process are not allowed to participate in a credit institution’s financial services.

This restriction is planned to increase society’s trust towards the country’s finance sector and prevent criminal acts in credit institutions, as well as protect clients’ accounts, preserve deposit and transaction secrecy and reduce other risks, as mentioned in the legislative draft’s annotation.

It is expected that credit institutions will have the right to check their workers’, including potential employees’ background by coordinating information exchange with Penalties Registry.

Saeima mentions that amendments to the Credit Institutions Law are planned to establish restrictions for shareholders to serve as board members and take office in management of credit institutions. Board members will not be allowed to be shareholders with significant influence in the credit institution regardless if their influence is direct or indirect. The threshold for restriction to work in management boards if they own 10% from capital shares, as noted in the annotation.

To enhance combating measures against grey economy, the legislative draft is planned to improve cooperation between credit institutions and State Revenue Service. Deepening cooperation will help with identifying suspicious financial activity and reduce risks in taxes.

Considering the changes to personal data protection legislation, amendments are planned to provide Data State Inspectorate the authority to request from credit institutions certain non-disclosed information, the parliament notes.

Information available to credit institutions will have to be submitted to Money Laundering Prevention Office’s coordination group, as well as investigators.

The Saeima will have to decide on amendments in two more readings before approval.


Leave a reply

Medicines for people with mental disorders to become more accessible in Latvia

To improve accessibility of medicines for people suffering from psychological and behavioural disorders, Latvia’s government decided to expand the list of diagnoses eligible for state-compensated medicines on Tuesday, 23 April.

Belarus halts exports of low quality oil products to Baltics, other neighbours

Belarusian Oil Company has announced the temporary suspension of light oil products to the Baltic states, Poland and Ukraine explaining that low-quality oil products have been supplied by Russia to Belarusian refineries.

Producer prices in Latvia: increase of 4.1% in March

Compared to March 2018, average level of producer prices in Latvian industry increased by 4.1 % in March 2019. The level of prices of products sold on the domestic market rose by 6.5 % and that of exported products – by 1.9 %.

Saeima deputy confident on the need to dismiss National Mass Media Council

Considering recent development, the National Electronic Mass Media Council should be dismissed, says head of Saeima’s Human Rights and Public Affairs Committee Artuss Kaimiņš.

Estonian President continues to meet with ministerial candidates

As outgoing Estonian Prime Minister Jüri Ratas' is likely to form his second government with the controversial Conservative People's Party of Estonia and the national-conservative Pro Patria, Estonian President is meeting with his ministerial candidates.

Teachers demand from Latvia’s ministry specific amendments to regulations

Latvian Trade Union of Education and Science Employees sent a letter to Latvia’s Education and Science Ministry on Tuesday, 23 April. In it, representatives demand strict guarantees and specific amendments to regulations to ensure increase of wages for teachers in accordance with the schedule.

Catalonia – key issue in Spanish pre-election debate

As Spain nears its early general election on Sunday, April 28, its outgoing Prime Minister faced criticism from his opponents over Catalonia's secession crisis.

Latvian minister orders closure of Deglava Bridge in Riga

Latvia’s Interior Affairs Minister Sandis Ģirģens has ordered State Police to close down Deglava Bridge starting with Thursday, 25 April.

Sri Lanka death toll rises. Authorities had been warned about possible attacks

In Sri Lanka, the number of people killed in attacks on churches and hotels has reached 290 people, while it has been revealed that national authorities had been warned about possible attacks.

Road construction company Binders to attract workers from Ukraine and Belarus

Latvian road construction company SIA Binders experiences a shortage of workers. Because of that, the company plans to attract guest workers from Ukraine and Belarys, says Bindars board chairman Aigars Sēja.

Ukrainian presidential election won by Zelensky on hopes of change

The run-off of the Ukrainian presidential election has been won by comedian Volodymyr Zelensky, who has promised change and better relations with Russia.

Air temperature to reach +23° C in Latvia this week

Dry weather will remain in most of Latvia this week. The sun will shine often and there will be slow eastern and south-eastern wind. However, strong wind is expected to come on Wednesday, 24 April, and precipitation is expected at the end of the week.

Forevers: 615 tonnes of grilled meat was consumed in Latvia last year

615 tonnes of meat products for grilling was sold in Latvia in 2018, according to sales data from meat processing company Forevers.

Every day hens in Latvia produce an egg for every resident

The number of laying hens in Latvia, when compared to 2017, had increased 19.2% in 2018, reaching 3 million, according to data from the Central Statistical Bureau of Latvia. Compared to the previous year, the total number of domestic birds has increased 9.3%, reaching 5.4 million, which is the largest index since 1992.

73% of residents believe they benefit from Latvia’s membership in EU

Approximately 73% of residents believe Latvia benefits from membership in the European Union. Interviewed residents mainly outline job opportunities, economic growth and security, according to the latest data compiled by Eurobarometer.

General government budget deficit in Latvia reached EUR 295.4 million last year

In 2018 general government budget deficit accounted for EUR 295.4 million or 1 % of the Gross Domestic Product and general government consolidated gross debt amounted to EUR 10.6 billion or 35.9 % of the GDP.

Egils Levits optimistic about his chances becoming Latvia’s president

Presidential candidate and European Court of Justice Judge Egils Levits is optimistic about his chances of becoming Latvia’s next president.

Estonia’s government to be formed by standing Prime Minister Jüri Ratas

On Thursday, 17 April, Estonia’s parliament entrusted formation of the country’s government to Centre Party’s chairman and standing Prime Minister Jüri Ratas.

At least 29 die as German tourist bus runs off road in Portugal

At least 29 people were killed and 27 were injured when a German tourist bus ran off the road on Madeira Island in Portugal, as reported by BBC.

EY: businessmen show very positive outlook towards global economy

The latest Ernst&Young EY Global Capital Confidence Barometer reveals a generally optimistic outlook businessmen have around the world – 93% of interviewed company CEOs believe the economic situation in the world is steadily improving. The same opinion was voiced by 73% of interviewed CEOs last year.

Orkla Latvija signs contract for construction of Laima manufacturing plant in Ādaži

On Wednesday, 17 April, Orkla Latvia signed a contract worth EUR 8.9 million with construction company Merks on the construction of a Laima manufacturing plant in Ādaži, BNN was told by Orkla Latvija representative Lineta Mikša.

As police arrive, Peru’s ex-president commits suicide

Ex-president of Peru Alan García committed suicide on Wednesday, 17 April, when police arrived to arrest him for corruption.

Estonia’s president to meet with Putin; the two will discuss Baltic security

On Thursday, 18 April, Russia’s President Vladimir Putin will meet with Estonia’s President Kersti Kaljulaid, as reported by Estonian public media ERR.

Europe’s borders to be reinforced – a specialist corps to be formed by 2027

On Wednesday, 17 April, the European Parliament approved a new law to strengthen Europe’s border and coast guard, as reported by EP representative in Latvia Signe Znotiņa-Znota.

Latvian residents engage in marriages more often than before

Over the past three years the number of registered marriages has risen slightly. In 2018, 13.4 thousand marriages were registered, which is 200 marriages more than in 2017 when the increase recorded over the year constituted 148 marriages.