Daily magazine about Latvia www.latviannews.lv
Experience is that marvelous thing that enables you recognize a mistake when you make it again.
Franklin Pierce Jones
Russian version

FCMC applies 890,000 euros fine to Meridian Trade Bank

Finance and Capital Market Commission has made the decision to apply a fine of EUR 889,651 to Meridian Trade Bank, as confirmed by FCMC Council.

The fine was applied because FCMC found that Meridian Trade Bank has failed to ensure sufficient internal control system.

When making the decision on the size of the fine, FCMC took into account that the bank has already commenced work to improve its internal control system’s efficiency and that the bank was not previously penalized for problems with its internal control system. Meridian Trade Bank is to pay the aforementioned amount to the state budget within one month.

In addition to the fine, FCMC Council has also decided to apply specific legal duties for the bank to make sure the institution does not permit similar violations in the future.


Before the comment please read the rules of use our webpage.. Thank you.