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The liquidation of ABLV Bank has canceled the operating license of a credit institution, learned the LETA from the Committee on Financial Markets and Capital (CFMC).
The CFMC informs that the European Central Bank has decided to cancel the ABLV Bank license. The decision of the European Central Bank came into effect on Wednesday 11 July, around 24 hours after Latvia.
The decision was made at the initiative of the CFMC, taking into account the decision of the general meeting The FCMC decided this year to authorize ABLV Bank to start the process. self-restraint that has been announced.
"This is a planned and logical step in the bank's self-winding process, which in no way affects the self-liquidation process. FCMC continues to monitor the process of self-liquidation in accordance with the previously approved plan and procedure, "said FKTK Chairman Peters Putnins
The LETA agency has already informed that the FCMC Board has authorized ABLV Bank to start the process of self-restraint announced on June 12, 2018.
The shareholders of ABLV Bank decided, at an extraordinary meeting held on February 26, to initiate a procedure the bank's reverse charge, taking into account the decision of the European Central Bank on the opening of the liquidation process.In mid-February, FinCEN announced its intention to impose sanctions to ABLV Bank against money laundering programs that helped the program North Korea, as well as illegal activities in Azerbaijan, Russia and Ukraine. The FinCEN report also indicates that the ABLV Bank management has used corruption by 2017 to influence the Latvian authorities in order to prevent any legal action against it and reduce the threat to its activities. at high risk.
In a response letter, they called on FinCEN to withdraw its proposal, stating that FinCEN had raised "exaggerated allegations" against ABLV Bank, for which many general allegations were provided or evidence of money laundering. money and insults were not provided bribery FinCEN also did not take into account the progress of ABLV Bank in the financial crime prevention program.
ABLV Bank and its principal shareholders submitted claims to the European Central Bank and the Joint Resolution Council of the European Court. The bank's lawyers have filed four applications from DLA Piper on behalf of ABLV Bank, Germany and its two largest shareholders, two in total – two against the European Central Bank and two against the Unified Settlement Board. The requests cite a number of possible violations that may have been committed by the European Central Bank and the Joint Resolution Board. These include overriding powers, disrespect for proportionality and equal treatment, and other violations.
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