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AS "PrivatBank"
Type of infringement:
Violation of the provisions of the Credit Institution Law: for failure to submit and publish audited annual report
Date:
29.04.2019
Status:
In force
Sanctions applied:
A fine of 9 585 euro
Related article:
Type of infringement:
Breaches of the anti-money laundering and counter terrorism and proliferation financing regulatory requirements.
Date:
23.05.2022
Status:
In force
Sanctions applied:
A fine of 893 986 euro. The fine has been reduced as a result of contesting and appealing the decision of the Board of the FCMC upon entering into the administrative agreement between the Bank and the FCMC.
Related article:
Type of infringement:
Failure to ensure an adequate and consistent risk culture and effective internal control system leading to infringements of the regulatory requirements regarding anti-money laundering and counter-terrorism and proliferation financing.
Date:
15.11.2021
Status:
Appealed
Sanctions applied:
A warning to Inga Rumba, the member of the board and the former acting chairperson of the board of AS PrivatBank.
AS "PNB Banka"
Type of infringement:
Violation of the provisions of the Credit Institution Law: for failure to submit and publish audited annual report
Date:
13.05.2019
Status:
In force
Sanctions applied:
A fine of 4 260 euro
Related article:
Type of infringement:
Violations of the Law on International Sanctions and National Sanctions of the Republic of Latvia and the FCMCs regulation.
Date:
09.09.2019
Status:
In force
Sanctions applied:
Expresed a public announcement by indicating the nature of the violation.
Related article:
Sabiedrība ar ierobežotu atbildību "Money Express"
Type of infringement:
Type of infringement Breaches of Law on AM/CTF law . - the internal control system in the AML/CTF area is not adequate to ML/TF risks inherent for its activities and customers and does not ensure efficient functioning in compliance with the provisions of the AML/CFT regulations, including weaknesses in transaction monitoring and customer due diligence
Date:
01.08.2019
Status:
In force
Sanctions applied:
A fine of 4472,82 euro imposed on the payment institution; a warning issued to the the member of the Board Nikolajs Timofejevs and employee responsible for the AML/CTF Diana Saprikina – Ivaņko.
Related article:
Rigensis Bank AS
Type of infringement:
Violations of regulatory requirements regarding the prevention of money laundering and terrorism financing (hereinafter – the AML/TF) related to the internal control system, customer base risks and their management.
Date:
09.07.2019
Status:
In force
Sanctions applied:
A fine of 1 028 850 euro and legal obligations imposed on the bank, a warning issued to R. Degro, the member of the Board responsible for the field of AML/TF
Related article:
AS "Aquarium Investments" IPS
Type of infringement:
Violations of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing and the FCMCs regulatory requirements: deficiencies in the internal control system, insufficient customer due diligence and monitoring of transactions
Date:
17.09.2019
Status:
In force
Sanctions applied:
A fine of 13 715,74 euro
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:
Akciju sabiedrība "Rīgas kuģu būvētava"
Type of infringement:
Breach of Article 15 of the regulation No 596/2014 - the sanctions have been applied since during the period from 15.02.2016 to 29.03.2017 Jānis Žavners and Māra Lībiete engaged in the market manipulations with the shares of AS "Rīgas kuģu būvētava" and AS "SAF tehnika", which resulted in an impact on the stock market price.
Date:
07.06.2018
Status:
In force
Sanctions applied:
A fine of 1000 euro imposed on Jānis Žavners. Public announcement on infringement of the laws and regulations of the European Union committed by Māra Lībiete.
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 - 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 57² of the Financial Instruments Law - delayed publication of: annual report for 2017 together with auditor's opinion, financial information regarding the first three months of the 2018, interim periods regarding the first six months of the 2018.
Date:
05.11.2018
Status:
In force
Sanctions applied:
A fine of 5000 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:
Appealed
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:
Adopted by Supervision Committee of Latvijas Banka
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.
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:
Adopted by Supervision Committee of Latvijas Banka
Sanctions applied:
Public announcement
Akciju sabiedrība "SAF TEHNIKA"
Type of infringement:
Breach of Article 15 of the regulation No 596/2014 - the sanctions have been applied since during the period from 15.02.2016 to 29.03.2017 Jānis Žavners and Māra Lībiete engaged in the market manipulations with the shares of AS "Rīgas kuģu būvētava" and AS “SAF tehnika”, which resulted in an impact on the stock market price.
Date:
07.06.2018
Status:
In force
Sanctions applied:
A fine of 1000 euro imposed on Jānis Žavners. Public announcement on infringement of the laws and regulations of the European Union committed by Māra Lībiete.
Related article:
Akciju sabiedrība "GRINDEKS"
Type of infringement:
Breach of the Article 66 - mandatory share buy-back offer has not been addressed to other shareholders.
Date:
09.04.2019
Status:
In force
Sanctions applied:
A fine of 131 250 euro on the shareholders of AS “Grindeks” Kirovs Lipmans and Filips Lipmans.
Related article:
Type of infringement:
Breach of Paragraph 5 of the Article 56 of the Financial Instruments Law - delayed publication of annual report for 2017 together with auditor's opinion.
Date:
05.11.2018
Status:
Appealed
Sanctions applied:
A fine of 10 000 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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