Changes To The Financial And Capital Market Commission Act

Original Language Title: Grozījumi Finanšu un kapitāla tirgus komisijas likumā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/238387

The Saeima has adopted and the President promulgated the following laws: changes to the financial and capital market Commission in the law to make financial and capital market Commission (Act of the Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 2000, nr. 13; 2001, 24. No, 2, 6, 2009. no; Latvian journal, 2009, nr. 196; 2010, nr. 205.) the following amendments: 1. Express article 4 by the following: "article 4. Financial and capital market participants issuers, investors, credit institutions, insurers, insurance intermediaries, reinsurers, reinsurance intermediaries, private pension funds, regulated market organizers, depositaries, investment companies, investment management firms, credit unions, external credit assessment institutions (rating agency), payment institutions and electronic money institutions. "
2. Express article 22, second paragraph as follows: "(2) the foreign company branches in the Republic of Latvia, which does business as one of the financial and capital market participants, as well as Member States, licensed investment management company, which according to the investment management community to the law of investment funds registered in Latvia, payments made for funding the activities of the Commission in article 23 of this law and set the agenda."
3. Article 23, first paragraph: make paragraph 5 by the following: "5) organizer of regulated market payments for financing the activities of the Commission — up to 2 percent of their business including average gross revenue for the quarter, but not less than 5000 lats year;"; "
make point 7 by the following: ' 7 investment management company) charges for financing the activities of the Commission, according to the investment management community about legal and order; "
Add to part with 10, 11 and 12 of the following paragraph: "10) reinsurers payments to finance the activities of the Commission under the reinsurance legal about and order;
11) payment institutions payments to finance the activities of the Commission in accordance with the payment service and electronic money legal about and order;
12) payment of electronic money institutions in financing the activities of the Commission in line with the payment service and electronic money legal and policy. "
4. transitional provisions be supplemented by the following paragraph 14: "14. amendments article 23 of this law in the first part of paragraph 7 in relation to the investment management company payments shall enter into force on January 1, 2012."
The Parliament adopted the law of 13 October 2011.
The President a. Smith in 2011 on October 26.