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Baltic International Bank SE
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Taking account of the fact that the bank's licence for the operation of a credit institution has been withdrawn and liquidation proceedings have been initiated on the basis of a court judgement, the fine applied previously has been cancelled in accordance with the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:
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:
Appealed
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:
In force
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:
AS "SEB banka"
Type of infringement:
The provisions of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing (AML/CTF) and underlying regulatory as well as the Law on International Sanctions and National Sanctions of the Republic of Latvia and Council Regulation No 269/2014 and Council Implementing Regulation No 2018/1072 requirements had been violated.
Date:
19.12.2019
Status:
In force
Sanctions applied:
A fine of 672 684 euro for breaches of AML/CTF requirements and 1 121 140 euro for breaches of sanctions requirements imposed on the bank
Related article:
Akciju sabiedrība "Citadele banka"
Type of infringement:
The provisions of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing (AML/CTF) and underlying regulatory had been violated.
Date:
29.04.2020
Status:
In force
Sanctions applied:
A fine of 647 070 euro for breaches of AML/CTF requirements imposed on the bank
Related article:
SB Resolution AS
Type of infringement:
Breaches of the anti-money laundering and counter terrorism and proliferation financing regulatory requirements
Date:
22.02.2021
Status:
In force
Sanctions applied:
A fine of 583 963 euro. The fine has been reduced as a result of contesting the decision of the Board of the FCMC upon entering into the administrative agreement between the Bank and the FCMC.
Related article:
Akciju sabiedrība "Rīgas kuģu būvētava"
Type of infringement:
Breach of Paragraph 5 of the Article 56, Paragraph 1 of the Article 57 and Paragraph 1 of the Article 57.² of the Financial Instruments Law - delayed publication of: annual report for 2018 together with auditor's opinion, financial information regarding the first three months of the 2019, interim periods regarding the first six months of the 2019, financial information regarding the first nine months of the 2019.
Date:
16.01.2020
Status:
In force
Sanctions applied:
A fine of 10 000 euro.
Related article:
Type of infringement:
Breach of Paragraph 5 of the Article 56, Paragraph 1 of the Article 57 and Paragraph 1 of the Article 57.² of the Financial Instruments Law.
Date:
14.12.2020
Status:
In force
Sanctions applied:
A fine of 10 000 euro imposed on the company. A fine of 1000 euro imposed on board member Einārs Buks.
Related article:
Type of infringement:
Breach of Paragraph 5 of the Article 56 and Paragraphs 1 and 2 of the Article 57.² of the Financial Instruments Law.
Date:
21.06.2021
Status:
In force
Sanctions applied:
A fine of 20 000 euro imposed on the company. A fine of 2500 euro imposed on board member Einārs Buks, a fine of 500 euro imposed on board member Deniss Parfens.
Related article:
Type of infringement:
Infringements of the Financial Instruments Market Law: Vasilijs Meļņiks, when disposing of an indirect major holding, and Irina Meļņika, when acquiring and subsequently disposing of an indirect major holding, did not notify it in accordance with procedures laid down in Section 61(1), Section 61.²(1) and (3) and Section 61.³(1) of the Financial Instruments Market Law; Irina Meļņika violated the provisions of Section 66(4), Clause 1 and Section 70(1) of the Financial Instruments Market Law regarding the making of a mandatory share buy-back offer, namely, the offer was not made upon the acquisition of indirect major holding of more than 30% of company shares.
Date:
14.09.2021
Status:
In force
Sanctions applied:
A fine of EUR 100 000 is applied to the shareholders Vasilijs Meļņiks and Irina Meļņika; an agreement with Irina Meļņika on making a mandatory share buy-back offer until 13.10.2021.
Related article:
Type of infringement:
Infringement of Financial Instruments Law
Date:
26.04.2023
Status:
In force
Sanctions applied:
A fine of 5100 euro for the violation of requirements laid down in Paragraph two of Section 4.¹ of the Financial Instrument Market Law, i.e. non-cooperation with the supervisory authority by failing to provide the information requested by it; a fine of 5600 euro for failure by the joint stock company to publish a complete interim report for the first six months of 2022, thus breaching the requirements under Paragraphs two and seven of Section 57 of the Financial Instrument Market Law.
Related article:
Type of infringement:
The requirements of the Financial Instrument Market Law have been infringed by not disclosing information on the decisions taken at the shareholders` meeting of joint stock company Rīgas kuģu būvētava held on 30 June 2022.
Date:
26.04.2023
Status:
In force
Sanctions applied:
Public announcement
Sabiedrība ar ierobežotu atbildību "VIA SMS group"
Type of infringement:
Breach of Paragraph 5 of the Article 56 of the Financial Instruments Law - delayed publication of annual report for 2018 together with auditor's opinion.
Date:
07.10.2019
Status:
In force
Sanctions applied:
A fine of 3000 euro.
Related article:
AS "mogo"
Type of infringement:
Breach of Paragraph 5 of the Article 56 of the Financial Instruments Law - delayed publication of annual report for 2018 together with auditor's opinion.
Date:
28.10.2019
Status:
In force
Sanctions applied:
Public announcement
Related article:
Akciju sabiedrība "Rīgas juvelierizstrādājumu rūpnīca"
Type of infringement:
Breach of the Article 66 - mandatory share buy-back offer has not been addressed to other shareholders.
Date:
20.10.2020
Status:
In force
Sanctions applied:
A fine of 20 000 euro on the shareholders of "Rīgas Juvelierizstrādājumu rūpnīca" Aleftīna Struļēviča, Vladimirs Cadovičs, Marija Ančevska, Valentins Istomins un SIA "Namejs 1".
Related article:
Akciju sabiedrība "Reģionālā investīciju banka"
Type of infringement:
The Bank, on certain occasions, had failed to comply with the regulatory obligation to verify the origin of financial resources.
Date:
05.11.2020
Status:
In force
Sanctions applied:
A fine of 473 076 euro.
Related article:
Type of infringement:
Violations of regulatory requirements regarding the prevention of money laundering and terrorism financing and shortcomings in the internal control system
Date:
12.12.2023
Status:
In force
Sanctions applied:
A fine of 259 867 euro
Related article:
Signet Pensiju Pārvalde IPAS
Type of infringement:
Violations of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing requirements.
Date:
16.03.2021
Status:
In force
Sanctions applied:
A fine of 57 217 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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