On 16 September, the Supervision Committee of Latvijas Banka decided to issue a licence to SIA IBC INVEST for the provision of investment services and ancillary investment services.
The investment services the company is authorised to provide are as follows:
- reception and transmission of orders in relation to one or more financial instruments,
- execution of orders on behalf of clients,
- dealing on own account,
- portfolio management,
- placing of financial instruments without a firm commitment basis.
Meanwhile, the authorised ancillary investment services are as follows:
- holding of financial instruments,
- provision of services related to the underwriting of financial instruments.
Latvijas Banka has issued licences to three investment firms this year. Currently, an authorisation has been granted to a total of 13 investment firms in Latvia.
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.