Latvijas Banka regulates and supervises the operation of the financial market and its participants according to the Section 5, Paragraph one, Clause 4 of the Law on Latvijas Banka.
To protect investors in Latvia as well as to promote the development of the financial market, ensure equal operating conditions for all financial market participants, and maintain a proportional and consistent approach to the regulation of financial services, the Financial and Capital Market Commission (Latvijas Banka is, pursuant to Paragraph 4 of the Transitional Provisions of the Law on Latvijas Banka, the successor to the property, financial resources, rights, and liabilities of the Financial and Capital Market Commission) has previously informed the public* that service providers whose commercial activities are related to the trading of credit claims issued by lenders on online platforms will have to obtain a licence of a credit institution or an investment firm in accordance with the requirements of the Credit Institution Law or the Financial Instrument Market Law.
By conducting research on the financial market and supervising its participants in Latvia, Latvijas Banka has identified several companies (see the list below) that provide investment services or ancillary investment services corresponding to the provisions of Section 3, Paragraph four or five of the Financial Instrument Market Law regarding financial instruments, including the trading of credit claims or the provision of investment services, without having received the appropriate licence or authorisation to offer such services.
Latvijas Banka would like to draw attention to the fact that any activities related to the provision of investment services without the appropriate licence or authorisation are prohibited in Latvia. For a list of all licensed service providers, see the website of Latvijas Banka: https://uzraudziba.bank.lv/en/market/.
Latvijas Banka encourages you to verify the right of any service provider to offer the relevant service before engaging in cooperation and to refrain from working with service providers who have not obtained the necessary authorisation or licence.
Please note that investments (money and financial instruments) in companies that lack the relevant licence or authorisation are not protected under the Investor Protection Law. Investing in such companies carries the risk of irretrievable loss.
List of companies
- Crowdestor OÜ
- Crowd p2p d.o.o.
- Fintown s.r.o.
- Hive5 marketplace d.o.o.
- Income Company OÜ
- IUVO Group OŰ
- Investly Ltd and Investly Technologies OÜ
- Kviku Holding Ltd
- LOANCH (RiseTech Kft.)
- Lonvest Platform d.o.o.
- Robocash d.o.o.
- Scramble OÜ
- Swaper Platform OÜ