Legislation

International Internet Magazine. Baltic States news & analytics Sunday, 08.12.2019, 16:24

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Baltic International Bank considers the fine of FCMC as disproportionate, plans to appeal

Baltic International Bank considers the fine of FCMC as disproportionate, plans to appeal

06.12.2019

Baltic International Bank (Bank) on a continuous basis is working together with the Financial and Capital Market Commission (FCMC) on the strengthening of the Bank’s internal control system (ICS) due to the constantly changing and raising requirements in the banking supervision process. Aim is to achieve accurate and clear requirements towards the Bank, it’s rights and responsibilities without allowing any interpretation. Already in 2016 Bank changed it’s business model and actively implements new business strategy – with the purpose of becoming a strong investments Bank in the Baltic region.

Keyword tags: Banks, Financial Services, Latvia, Legislation



Magonis claims EUR 500,000 was reward for lobbying Ossinovski's interests in Russian Railways

Magonis claims EUR 500,000 was reward for lobbying Ossinovski's interests in Russian Railways

29.11.2019

Ugis Magonis, the former CEO of Latvijas Dzelzcels (Latvian Railways, LDz) national rail company, claimed in court today that he received nearly EUR 500,000 in cash from Estonian businessman Oleg Ossinovski not as a bribe but as reward for lobbying his interests in Russian Railways, writes LETA.

Lithuanian president calls on transport minister to resign

Lithuanian president calls on transport minister to resign

28.11.2019

Lithuanian President Gitanas Nauseda called on Thursday on Jaroslav Narkevic to resign as the country's transport minister, informed LETA/BNS.


Procurement Oversight Bureau Ruling on Latvian Railways Bid for Tenders Worth EUR 35.92 Million

Procurement Oversight Bureau Ruling on Latvian Railways Bid for Tenders Worth EUR 35.92 Million

28.11.2019

The Procurement Oversight Bureau (IUB) held a meeting on November 25, 2019, to discuss a Latvian Railways bid for tenders that is worth EUR 35.92 million and applies to the development and construction of the Daugavpils sorting station. The project involved EU financing, but it was suddenly interrupted when the BMGS-FIMA-Prvni Signalni group of companies filed a complaint with the IUB to object against the cancellation of the bid for tenders after bids were submitted by applicants and were opened, Aleksandrs Grebežs, spokesman AS BMGS informed.

Riga Central Market terminates lease agreement with company suspected of illegal trade in excise goods

Riga Central Market terminates lease agreement with company suspected of illegal trade in excise goods

28.11.2019

Complying with a decree issued by Riga mayor Olegs Burovs (Honor to Serve Riga) as its shareholder, Riga Central Market has terminated the lease agreement with a company suspected of illegal trade in excise goods at the market, LETA was told at Riga City Hall.


22.11.2019

Searches at Riga Central Market related with illegal circulation of excise goods

Searches at Rigas Centraltirgus (Riga Central Market) on Thursday were related with illegal circulation of excise goods, LETA learned from the State Police.

20.11.2019

Court allows government to appoint new acting University of Latvia rector

The Administrative Regional Court has upheld the ruling of a first-instance court banning a new election of the University of Latvia rector, but recognized the government's right to replace Indrikis Muiznieks as the university's acting rector, informed LETA.

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