Largest FinTech event of the year
FinTech sector development is one of the Financial and Capital Market Commission (FCMC) priorities in supervision of financial and capital market participants. With a view to facilitating financial innovations and strengthening the financial industry, the FCMC has implemented a number of initiatives to improve onboarding and licencing processes and further enhance the advisory capacity in the Innovation Hub.
Path towards the licence for the provision of crowdfunding services: the experience of CrowdedHero
In mid-August, SIA CrowdedHero Latvia (CrowdedHero) obtained the first authorisation to provide crowdfunding services in Latvia issued by the Financial and Capital Market Commission (FCMC). What was our company's path towards this licence?
FCMC issues the first EU-wide authorisation to provide crowdfunding services in Latvia to SIA CrowdedHero Latvia
On 16 August, the Board of the Financial and Capital Market Commission (FCMC) adopted a decision to issue the first authorisation to provide crowdfunding services in Latvia to SIA CrowdedHero Latvia in accordance with Regulation (EU) 2020/1503.
The key to European crowdfunding success lies in industries core principle – cooperation
Before we start, let’s make clear what is crowdfunding. In simple words, it is a fundraising tool that is used by private individuals or companies to raise funds from a crowd of people for different purposes, starting from simple as a local community raising funds to buy uniforms for a local kids' football team or a tech corporation raising millions for its strategic business development.
Technologies that have a significant impact on FinTech sector development
There has been an overwhelming impact of technology on the financial sector over recent years. The sector players have been forced to give up conventional financial practices and to implement digital transformation through innovative solutions.
Discussion “How can governments help the FinTech sector to grow”
On 1 June, Marine Krasovska, Director of Financial Innovation Department of the Financial and Capital Market Commission, took part in the Global Government FinTech Lab 2022 event in Tallinn, Estonia.
Financial innovations used by Latvia’s financial and capital market participants 2022
In spring 2022, the Financial and Capital Market Commission (FCMC) conducted a survey of Latvia’s financial and capital market participants for the third consecutive year with a view to clarifying the scope and trends of the innovative financial technology (FinTech) used in Latvia.
FCMC offers several support mechanisms to FinTech companies
To support enterprises seeking to develop innovative financial products and services and choosing Latvia as a place to expand their business in the global environment, the Financial and Capital Market Commission (FCMC) offers several support mechanisms – the Innovation Hub for consultations, the Regulatory Sandbox for testing innovative services and website fintechlatvia.eu containing up-to-date FinTech information.
