Swedish financial regulator probing SEB's Baltic operations
Sweden's financial regulator announced December 18 it is launching "a sanction case in the investigation into Skandinaviska Enskilda Banken AB’s (SEB) governance and control of measures to combat money laundering in the bank’s subsidiaries in the Baltic countries."
Latvian financial regulator updates media on Lembergs sanctions
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said December 12 that while it was helping to fully implement U.S, sanctions against Aivars Lembergs, it was also working to ensure any wider damage to the economy was minimised.
Swedbank ditches Baltic banking head
Swedbank, the largest financial institution in the Baltic states, announced December 9 it was getting rid of its head of Baltic banking, in the wake of recent Swedish TV reports on failures in anti- money laundering safeguards from the bank's Estonian operations.
Four candidates to take over at Latvian central bank
Four people are in the running to become the next head of the Latvian Central Bank - and by extension a member of the European Central Bank's governing council - when the mandate of the current governor, Ilmārs Rimšēvičs, comes to an end on December 21.
Swedish banks on the defense over Baltic operations
Swedish banks Swedbank and SEB have responded to new investigations by Swedish Television (SVT) which question the extent to which the banks may have been used to launder vast amounts of Russian cash and circumvent international sanctions.
Consumer rights watchdog fines lender Latvijas Hipotēka
The Consumer Rights Protection Center (PTAC) has fined non-bank credit lender "Latvijas Hipotēka", applying a 50 000 euro penalty and ordering them to cease the unfair business practices, according to LTV's Panorāma broadcast.
Washington lobbyist paid $1m to fight ABLV bank's corner
The Latvian financial sector was shaken in 2018 by the closing of ABLV Bank. Meanwhile ABLV Bank shareholder Ernests Bernis has spent enormous amounts of money in the past half year to lobby his interests in Washington DC, according to Latvian Television's De Facto broadcast.
Saeima committee approves Purgaile candidacy as financial regulator
On Tuesday, October 22, the Saeima Budget and Finance (Tax) Commission approved the candidacy of Santa Purgaile to become the new head of Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK), meaning that she is now just one vote away from being confirmed in the position.
Latvian central bank offers magical mushroom coin
The Latvan Central bank (Latvijas Banka, LB) is inviting members of the public to invest in a new coin designed to appeal to both numismatists and mycologists. In other words, coin collectors and fungus fans.
Central bank upgrades instant payment services
The council of Latvijas Banka, the country's central bank, said September 26 it had approved amendments to its "Instant Links" service, a measure it said would promote "wider use of the Registry in innovative payment services."
Question marks over fate of Rīga housing manager's €6m deposit at PNB
After PNB banka folded in mid-August, its administrator has asked former clients to submit pay-out requests within three months. Rīga's municipal housing manager, Rīgas namu pārvaldnieks (RNP), is among these clients and there are questions whether €6m worth of homeowners' money deposited with the company will be returned, reported LTV's De facto September 22.
Likely new head of Latvian financial watchdog revealed
The open competition to find a new chief for Latvia's financial regulator - a crucial position giving the ongoing campaign to restore the credibility of the scandal-wracked sector - has concluded, with the winning candidate named.