On 22 July, the Supervision Committee of Latvijas Banka decided to issue a licence to SIA C Capital Markets, a subsidiary of AS Citadele banka, for the provision of investment services and ancillary investment services.
The company's authorised investment service is the placing of financial instruments without a firm commitment basis, while its authorised ancillary investment service is the provision of services related to the initial allocation of financial instruments.
Following successful collaboration during the pre-licensing stage, SIA C Capital Markets received its licence in less than a month after submitting the official application for the licence.
Currently, an operating licence has been granted to 12 investment firms.
Businesses interested in obtaining an investment firm licence are encouraged to follow the licensing guide prepared by Latvijas Banka. This guide provides detailed information on the licensing process and requirements, including the documents to be submitted to Latvijas Banka, the application review deadlines, among other details.
To ensure a smooth licensing process, Latvijas Banka encourages companies to take advantage of pre-licensing consultations. During these consultations, Latvijas Banka's experts offer guidance on the applicable legal framework and conduct an initial assessment of the company's compliance with regulatory requirements. Collaboration during the pre-licensing stage helps companies prepare high-quality licence applications. Consultation requests can be submitted via Latvijas Banka's website.