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Stand-in financial regulator confirmed

At its meeting on 8 July, the Latvian Saeima decided to release the Chairman and Deputy Chairwoman of Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) ,from their positions and to appoint a temporary replacement to lead the organization.

Chairman Pēters Putniņš and Deputy Chairwoman Gunta Razāne handed in their resignations on 4 July 2019 asking to be relieved as of 15 July 2019.

The Saeima appointed the FKTK Supervisory Department’s Monetary Financial Institutions Operations Analysis Division head Kristīne Černaja-Mežmale as the temporary FKTK Chairwoman until the Saeima approves a new chairperson. The decision shall take effect on 15 July 2019.

The Saeima appointed Pēters Putniņš to the position of FKTK Chairman on 11 February 2016, and Gunta Razāne to the position of FKTK Deputy Chairwoman on 27 October 2016. Putniņš had voiced opposition to government reforms of FKTK and had come under increasing pressure to move aside.

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