Banks, Financial Services, Latvia, Legislation

Putnins has been appointed to the position for a term of six year.

Putnins was nominated for the position by Bank of Latvia governor Ilmars Rimsevics and Finance Minister Janis Reirs (Unity). Rimsevics and Reirs believe that Putnins is the best candidate for the tasks the financial watchdog has to perform in the near future – the fight against money laundering and Latvia’s accession to the Organization for Economics Cooperation and Development (OECD).

Putnins has served as FCMC deputy chairman since December 2012.

His earlier professional experience is also related with the financial sector. He was the Bank of Latvian consultant in legal issues in 2015-2012, and headed the Bank of Latvia Legal Department in 2002-2004. Before that, he had worked at Regionala Investiciju Banka, insurance companies Balta and Rigas Fenikss, as well as the law office Spade un Mikelsons.

Putnins was born in 1973, he has degrees in law and international relations from the University of Latvia.

Putnins became the FCMC acting head after resignation of Kristaps Zakulis, who left the post in late January over criticism for poor supervision of banks in respect of prevention of money laundering. Zakulis worked in the position from January 12, 2012, until January 28, 2016.