The ALCB begins cooperation with the Digital Freedom Festival, 15.08.2017

The Association of Latvian Commercial Banks (ALCB) has become the financial technology (fintech) partner of the Digital Freedom Festival. During the joint cooperation we will organise high level discussions attracting the most experienced experts in the area, both within the framework of the festival during November 27-28, as well as during several earlier warm-up events.

Association of Latvian Commercial Banks will develop industry wide guidelines to improve control mechanisms in financial sanction enforcement, 03.07.2017

The Council of Association of Latvian Commercial Banks has discussed the strengthening of compliance in Latvia's banking sector, with a special focus to OFAC sanction list enforcement. The Council agreed that significant progress has been achieved since 2016 to ensure highest standards in anti-money laundering and countering terrorist financing which are continuously improved. It is important to pay a special attention to control mechanisms in financial sanction enforcement and one of the steps is to develop common industry wide guidelines. The Council agreed to develop the guidelines by October 2017.

Commentary on the new European pension initiative, 30.06.2017

The Association of Latvian Commercial Banks positively acknowledges the European Commission's private pension initiative - the PEPP initiative, which will complement the existing pension products in Member States. This is an encouraging step towards development of single, secure and internationally competitive European financial sector.

Statement of the Association of Latvian Commercial Banks after inspections by FCMC in collaboration with U.S. Law Enforcement institutions in several Latvian banks, 27.06.2017

“Association of Latvian Commercial Banks has seen the statement of Financial and Capital Market Commission after inspections in collaboration with US Law Enforcement institutions in several Latvian banks.

ALCB: Latvia has no obstacles to make the beneficial ownership register available to public, 20.06.2017

The Association of Latvian Commercial Banks (ACLB) has concluded, after the conducted legal research, including analysis of international legal acts and foreign practice, that Latvia has no obstacles for making the information included in the beneficial ownership register available to public, which would promote effectiveness of identification and detection of beneficial owner.
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