Amendments To The Law On The Financial Instruments Market

Original Language Title: Grozījumi Finanšu instrumentu tirgus likumā

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Read the untranslated law here: https://www.vestnesis.lv/op/2013/142.2

The Saeima has adopted and the President promulgated the following laws: the law on the financial instruments market to make the law on the financial instruments market (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2004, no. 2; 2005, 10, 14; 2006, nr. 14. No; 2007, 10, 22 no; 2008, 13, 14, 23 no; 2009, 7., no. 22; Latvian journal, 2011, no 16; 2012, 56, 100, 186 No.) the following amendments: 1. in article 3: express the second part of paragraph 2 as follows: "2) investment funds and alternative investment fund investment certificates and other transferable securities, stating the participation in such funds, or those pielīdzināmo's total investment;" to make the seventh part (1) of the following: "1) and open the alternative investment fund units or comparable securities, confirming participation in such funds, or those pielīdzināmo's total investment;" to make an eighth of the following: "(8) article 54 of this law and section D of chapter III and IV requirements do not apply to investment funds and open the alternative investment fund units or comparable securities, confirming participation in such funds, or those pielīdzināmo's total investment companies." 2. Supplement article 7 the fifth investment fund, preceded by the words "the" and the words "alternative investment funds". 3. Article 10: to complement the second subparagraph following the words "reinsurance undertaking" with the words "alternative investment fund managers"; to make an eighth of the following: "(8) the evaluation of this law, article 9, first and second parts of the above notifications, the Commission shall consult with the Member State concerned, if the supervisory authorities of the proposed acquirer on the investment brokerage company is established in another Member State of the investment firm, a credit institution, an alternative investment fund manager, investment management company, an insurance company or a reinsurance company established in another Member State of the investment firm, a credit institution, an alternative investment fund manager , investment management companies, insurance companies or reinsurance undertaking the parent company or the person who controls registered in another Member State of the investment brokerage firm, a credit institution, an alternative investment fund manager, investment management company, an insurance company or a reinsurance company, and if, the person acquiring or increasing the qualifying holding, an investment brokerage company becomes the person's subsidiary or come under its control. " 4. Article 50: Add to the introductory part of the fifth paragraph after the words "Trust Fund" with the words "or the alternative investment fund"; express the sixth part as follows: "(6) the decision of the investment fund or the investment certificates of investment funds into the regulated market shall bear the following information: 1) the date on which the investment fund or the investment fund registered with the Commission; 2) investment fund or alternative investment fund type and name; 3) investment fund or the company that manages the alternative investment fund manager and legal address of the company; 4) investment fund or alternative investment fund units issued by investment funds, the number of parts (the open Fund) or the nominal value (closed Fund) on the date of adoption of the decision. " 5. Replace the fifth paragraph of article 54, the words "newspaper" with the words "Official Gazette". 6. in article 61.1: replace the third part number and the word "article 60" with a number and the word "the" in article 61; make the fifth part of the introductory paragraph as follows: "(5) in calculating this law article 61, first and second parts, the proportion of those voting shares, investment brokerage company's parent company is not required to own shares in the amount of equity that the subsidiary investment brokerage company individually managed in accordance with the mandate of the investor of this law article 3, paragraph 3, fourth subparagraph, provided that the subsidiary investment brokerage company:". 7. Replace article 68, the third subparagraph of article 73, in the fourth paragraph of article 75 of the sixth part, article 77, article 78, second paragraph, article 79, the third subparagraph of article 82 the eighth and 119 part of article 2.3, the word "newspaper" with the words "Official Gazette". 8. Replace article 101, first paragraph, the words "open investment funds managing societies" with the words "investment management companies". 9. Replace article 123.4 ninth paragraph, the words "the Republic of Latvia of the parent investment firm" with the words "the Republic of Latvia of the parent investment company. 10. Supplement article 124.1 of the second subparagraph of paragraph 1 by "d1" section in the following wording: "d1) alternative investment funds and alternative investment fund managers;". 11. off article 127.1 of part 2, paragraph 9, the word "open". The Parliament adopted a law in July 9, 2013. The President a. Smith 2013 in Riga on July 24.