If person wish to provide investment services and ancillary investment services, be informed on the following:
An investment brokerage firm (investment firm) is a capital company that provides investment services and ancillary (non-core) investment services.
The investment firm, which provides services with financial instruments included in the Latvian Central Depository, shall comply also with the regulations of the Depository. The investment firm, which provides services with financial instruments admitted to a regulated market, shall comply also with the regulations of the regulated market.
To receive the license for the provision of investment services and ancillary (non-core) investment services, the investment firm shall submit to the Commission an application; information about board and council members, including their education document copies, balance sheet, descriptions of the basic elements necessary for the establishment of an internal audit system, procedures significant for the operation of the investment brokerage company and for the qualitative provision of investment services, including accounting policies and accounting organization, description of the management information system, the provisions for the protection of the information system, including provisions for the protection of the financial instrument record-keeping database, a description of the internal audit system, descriptions of procedures for the identification of unusual and suspicious financial transactions, and descriptions of policies and procedures for the management of significant operational risks; company activity procedure description, an activity plan for at least the next three years, information regarding shareholders etc.
The share capital of investment firm shall differ from EUR 50 000 – EUR 730 000 according to its activity.
The Board members and council
members cannot be punished.
Board members and council and shareholder shall have a good reputation.
The Commission shall examine the
application of investment firm and take a decision on granting a license within
a three-month period upon the receipt of all the documents.
For providing you with more detailed information, we would need additional information regarding possible owners, board, activities etc.