News & Analysis
European Blocklists Continue Rapid Growth As Spotlight Shines On Curaçao
Latvian Gambling Legal Proposals Pouring In
Latvia Legal Changes 'Huge Relief' For Regulator, Says Lawyer
Latvian Regulator Granted Licence Suspension, Revocation Powers
Research & Reports
Interactive Map: Gambling Advertising Across Europe
Latvia: Draft Amendments to the Law on Prevention of Money Laundering and Terrorist Financing
On April 3, 2019, the Saeima (parliament) introduced Draft Law no. 295/Lp 13 with the title “Amendments to the Law on Prevention of Money Laundering and Financing of Terrorism”, with the aim of aligning the national anti-money laundering and counter-terrorist financing (AML/CTF) framework with the provisions of the 5th Anti-Money Laundering Directive (5th AMLD).
Latvia: Ministry of Justice Introduces Draft Law on Personal Data Processing to Implement GDPR
The Ministry of Justice has introduced a draft law, the Law on Personal Data Processing, which will implement the General Data Protection Regulation (GDPR) in Latvia.
The GDPR aligns existing principles for the protection of personal data by establishing uniform rules on the protection of personal data, which would apply throughout the EU, as the current framework on personal data is not harmonised and is different in member states.
The GDPR provides the following improvements in the single market environment:
Latvia: 4th AMLD Implementation — Implementation Process
PaymentsCompliance has confirmed with the market policy department of the Ministry of Finance recent changes to the internal planning calendar on the implementation of the 4th Anti-Money Laundering Directive (4th AMLD).
The draft law will be revealed to the public on September 1, 2016, with subsequent submissions to the Cabinet of Ministers on September 30, 2016. (The changes will be posted on the Ministry of Finance's website).