Amendments to Latvijas Banka Regulation No. 221 on Currency Exchange Companies

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Latvijas Banka Regulation No. 418
Riga 2026. April 20

Amendments to Latvijas Banka Regulation No. 221 of October 3, 2022 "Regulations on the Registration of Currency Exchange Companies, Provision of Information and Ensuring Requirements for Currency Exchange"

Issued in accordance with the third part of Article 26.3, Article 26.5 and the second part of Article 26.7 of the Payment Services and Electronic Money Law

Make the following amendments to Latvijas Banka Regulation No. 221 of October 3, 2022 "Regulations on the Registration of Currency Exchange Companies, Provision of Information and Ensuring Requirements for Currency Exchange" (Latvijas Vēstnesis, 2022, No. 192):

Express subpoint 1.2 in the following wording:

"1.2. the currency exchange company submits information and documents regarding its shareholders or members (up to the natural person who is the beneficial owner within the meaning of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing), the chairman of the board (if established), board members, chairman of the management board, management board members, procurists and persons responsible for compliance with the requirements of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing in the currency exchange company;".

Express subpoint 4.3.2 in the following wording:

"4.3.2. if the person is a non-resident of Latvia - a document issued by the competent state institution no earlier than six months before the date of submission of the notification, certifying that the circumstances mentioned in the first part of Article 21 of the Payment Services and Electronic Money Law do not apply to the person;".

Express subpoint 4.3.4 in the following wording:

"4.3.4. a certificate of familiarity with the personal data processing procedure (Appendix 3 to these Regulations);".

Replace the number "5.4." in point 12 with the number "4.4.".
Express Chapter III in the following wording:

" III. Information and documents to be submitted regarding the shareholders or members (up to the natural person who is the beneficial owner within the meaning of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing), chairman of the board (if established), board members, chairman of the management board, management board members, procurists or persons responsible for compliance with the requirements of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing in the currency exchange company and the procedure for submitting this information

The currency exchange company submits to Latvijas Banka the following information regarding its shareholders or members (up to the natural person who is the beneficial owner within the meaning of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing), chairman of the board (if established), board members, chairman of the management board, management board members, procurists and persons responsible for compliance with the requirements of the Law on the Prevention of Money Laundering and Terrorist and Proliferation Financing in the currency exchange company:

21.1. a notification (Appendix 2 to these Regulations);

21.2. the person's professional biography (CV - for at least the last 10 years, indicating also positions and functions performed);

21.3. if the person is a non-resident of Latvia - a document issued by the competent state institution no earlier than six months before the date of submission of the notification, certifying that the circumstances mentioned in the first part of Article 21 of the Payment Services and Electronic Money Law do not apply to the person;

21.4. a copy or extract of the minutes of the meeting (session) of the competent governing body of the currency exchange company with the decision to nominate the person for the performance of duties or a copy of the decision of the competent official of the currency exchange company on the appointment of the person to the respective position;

21.5. a certificate of familiarity with the personal data processing procedure (Appendix 3 to these Regulations).

21.1 If the currency exchange company re-elects its chairman of the board, board member, chairman of the management board or management board member for a new term of office, the currency exchange company informs Latvijas Banka in writing within 10 working days after such election and submits the document specified in subpoint 21.3 of these Regulations.

21.2 The requirements set out in point 21.1 of these Regulations do not apply if the information previously submitted to Latvijas Banka regarding the re-elected chairman of the board, board member, chairman of the management board or management board member of the currency exchange company for a new term of office has changed and such changes may affect the compliance of this person with the requirements established in the Payment Services and Electronic Money Law. In such a case, all documents specified in point 21 of these Regulations must be submitted, observing the provisions of point 5 of these Regulations."

In point 36:

6.1. replace the number "35.4." in subpoint 36.5 with the number "36.4.";

6.2. replace the number "46." in subpoint 36.7 with the number "47.".

Replace the numbers and words "35.1.-35.5., 35.7. and 35.8." in point 37 with the numbers and words "36.1.-36.5., 36.7. and 36.8.".
Replace the numbers "35.1.-35.5." in point 38 with the numbers "36.1.-36.5.".
In point 6 of Appendix 1:

9.1. replace the words "procedure documents" with the words "procedure descriptions";

9.2. replace the words "data protection certificates" with the words "certificate of familiarity with the personal data processing procedure".

In Appendix 2:

10.1. replace the words "If this person is not a resident of Latvia, - a document issued by the competent state institution of the person's country of residence and residence or registration no earlier than six months before the date of submission of the notification, certifying that the candidate for the position is not a person to whom" with the words "A document issued by the competent state institution no earlier than six months before the date of submission of the notification, certifying that the circumstances mentioned in the first part of Article 21 of the Payment Services and Electronic Money Law do not apply to the person - non-resident";

10.2. replace the words "Data Protection Certificate" with the words "Certificate of Familiarity with the Personal Data Processing Procedure".

In Appendix 3:

11.1. express the title of the appendix in the following wording:

" Certificate of Familiarity with the Personal Data Processing Procedure ";

11.2. replace the words "to be submitted to Latvijas Banka" with the words "to be submitted to Latvijas Banka";

11.3. replace the words "provisions of the law" with the words "requirements of the law";

11.4. replace the word "rights" with the words "the aforementioned rights";

11.5. replace the numbers and words "Articles 52 and 53" with the numbers and words "Articles 26.6 and 52";

11.6. supplement the section "Contacts" with the words "or the Data State Inspectorate (contact information: www.dvi.gov.lv)".

President of Latvijas Banka M. Kazāks

Legal Act Details

Name: Amendments to Latvijas Banka Regulation No. 221 of October 3, 2022 "Regulations on the Registration of Currency Exchange Companies..

Status:

In force

in force

Issuer: Latvijas Banka

Type: regulations

Number: 418 Adopted: 20.04.2026. Enters into force: 24.04.2026. Published: Latvijas Vēstnesis , 78, 23.04.2026.

OP number:

2026/78.13

Amendments to Latvijas Banka Regulation No. 221 on Currency Exchange Companies

Lineage: In force