"The training program developed by the Office of Technical Assistance of the U.S. Department of the Treasury, the United States Securities and Exchange Commission (SEC) and Latvijas Banka is designed to be a forum for the exchange of best practices in the supervision of the Latvian financial instrument market to ensure the protection of investor rights and facilitate a more effective development of the capital market," LB said.
At the opening the training session, Christopher Robinson, US Ambassador, said:
"The visit of the United States Securities and Exchange Commission is of high importance: the strength of the relationship between the US and its partners lies not only in policies and political treaties, but also in institutional cooperation."
During the training programme, speakers Julie A. Preuitt and Erin McCartney will introduce practical solutions to common financial market problems and abuses that serve to harm investor confidence and raise the cost of capital. The speakers will address such topics as challenges in the supervision of financial markets, best supervisory practices, supervisory instruments for protecting investor interests, investor educational opportunities, an effective international cooperation in the supervision of financial instrument trade and the exchange of information about the prevention of violations and illegal activities.
"During the training, topics related to detecting fraud and market manipulation, preventing financial crime and implementing effective solutions regarding violation prevention and sanction policy will also be explored. The training participants will learn about a risk-based approach to new capital market participants entering the market and will be introduced to case studies," said LB, adding that the training will bring together more than 40 experts from Latvijas Banka, the Ministry of Finance, the Department of Combatting Economic Crime of the Main Criminal Police Department of the State Police, the Financial Intelligence Unit, the Prosecution Office of the Republic of Latvia and the Consumer Rights Protection Centre.