The exception payment service provider is entitled to provide payment service referred to in Article 10, point 3, subpoint “b”, “c” of the Law on Payment Services and Electronic Money.
In order to become a participant of Latvian financial and capital markets and commence business activities, a credit institution, an insurance company, a reinsurance company, an insurance broker, a credit union, an investment management company, an investment firm, an operator of regulated market, a pension fund, a payment institution, an electronic money institution, as well as an alternative investment fund manager shall obtain operating authorisation (licence).