Issues on AML/TPFC and Law on Sanctions

Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing 

According to the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing (hereinafter - the Law) sworn advocates are subjects of the Law, the Latvian Council of Sworn Advocates - supervisory and control authority, while the Supervision and Control Commission of the Latvian Collegium of Sworn Advocates implements the obligations and rights delegated by the Latvian Council of Sworn Advocates in accordance with the international laws, the laws and regulations of the Republic of Latvia and internal regulations of the Latvian Collegium of Sworn Advocates on the prevention of money laundering and terrorism and proliferation financing.

Sworn advocates as subjects of the Law independently perform identification of their customers and customers' due diligence, observing the international laws, the laws and regulations of the Republic of Latvia and internal regulations of the Latvian Collegium of Sworn Advocates.

 

Law on International Sanctions and National Sanctions of the Republic of Latvia

According to the Law on International Sanctions and National Sanctions of the Republic of Latvia (hereinafter - the Law on Sanctions) requirements of the Law on Sanctions are binding to sworn advocates.

Sworn advocates as persons responsible for the enforcement and compliance of the Law on Sanctions are separated and the Latvian Council of Sworn Advocates is determined as the supervisory and control body of advocates.

The Supervision and Control Commission of the Latvian Collegium of Sworn Advocates exercises obligations and rights delegated by the Latvian Council of Sworn Advocates in accordance with the international laws, the laws and regulations of the Republic of Latvia and internal regulations of the Latvian Collegium of Sworn Advocates on the compliance and enforcement of the Law on Sanctions.

Sworn advocates as responsible persons for execution and compliance of the Law on Sanctions independently ensure the fulfilment of the duties specified in the Law on Sanctions, observing the requirements of the international laws, the laws and regulations of the Republic of Latvia and internal regulations of the Latvian Collegium of Sworn Advocates.

Friday, 14.05.2021

Next Meeting of the Latvian Council of Sworn Advocates - 18.05.2021.

Open calendar

Search of sworn advocates: