LV

Market

Baltic International Bank SE

Registration number
40003127883
Legal address
Kalēju iela 43, Rīga, LV - 1050
Country of origin
Latvia
Supervisory authority

Administrator of insolvency – Linda Sniega-Svilāne

Market segments

Market segment
Credit institutions
Phone
67000444
E-mail
Website

Type of infringement
Breaches of requirements of the internal control system in the areas of lending and investments, violations of laws and regulations in the field of risk management of money laundering, terrorism and proliferation financing, including breaches of requirements of the internal control system.
Date
26.03.2024
Status
Contested
Sanctions applied
A fine of 31 731 euro has been imposed on Viktors Bolbats, a former Chair of the Board of Baltic International Bank SE. The Council of Latvijas Banka has decided to uphold the penalty sanction without modification in the appeal process.
Related article

Type of infringement
Breaches of requirements of the internal control system in the areas of lending and investments.
Date
26.03.2024
Status
Contested
Sanctions applied
A warning has been issued to Edgars Voļskis, a former Member of the Board of Baltic International Bank SE. The Council of Latvijas Banka has decided to uphold the penalty sanction without modification in the appeal process.
Related article

Type of infringement
Insufficient risk management of money laundering, terrorism and proliferation financing, as well as ensuring the effective operation of the internal control system, and breaches of requirements of the internal control system in the areas of lending and investments.
Date
26.03.2024
Sanctions applied
A warning has been issued to Anda Saukāne, a former Member of the Board of Baltic International Bank SE who was responsible for monitoring the field of the prevention of money laundering and terrorism and proliferation financing.
Related article

Type of infringement
Violations of regulatory requirements regarding the prevention of money laundering and terrorism financing related to the internal control system, customer base risks and their management.
Date
21.07.2023
Status
In force
Sanctions applied
Taking account of the fact that the bank's licence for the operation of a credit institution has been withdrawn and liquidation proceedings have been initiated on the basis of a court judgement, the fine applied previously has been cancelled in accordance with the administrative agreement.
Related article

Type of infringement
Violation of the provisions of the Credit Institution Law: failure to timely submit and publish the audited annual report.
Date
15.08.2022
Status
In force
Sanctions applied
A fine of 5325 euro.
Related article

How to become a market participant

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).

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