Considering the importance of supervision of the financial and capital market sector in the stability of the financial system and the development of the economy, the Supreme Court has prepared a summary of case-law containing findings expressed in Senate’s rulings passed in the last five years in cases related to the supervision of the financial market.

The summary systematizes the findings of the Department of Administrative Cases and the Department of Civil Cases of the Senate taken from Senate’s rulings that were passed from 2019 to 2023.

This summary is a continuation of the case-law summary published in 2019 "Compilation of case-law in cases of Financial and Capital Market Commission 2006 – 2018". This compilation has a structure that is typical of summaries of Senate’s findings, namely, it is structured mainly as commentaries on legal acts, where Senate’s findings are added instead of commentaries. The legal framework of the European Union law analyzed in the Senate's rulings is also included separately.

For convenient usage, the list of included rulings is supplemented with hyperlinks to those rulings that have been published on the Internet.

It should be noted that on January 1, 2023, there was a change in institutions responsible for financial market supervision; the Financial and Capital Market Commission ceased to exist as a separate institution and it was integrated into the structure of the Bank of Latvia. In the context of this case-law summary, it should be taken into consideration that the term "Commission" has been used in case-law findings, however, taking into account the scope of the transferred institutional functions, the findings may also be applied to the Bank of Latvia.

The case-law summary was prepared by the Division of Case-law and Research in cooperation with the Department of Administrative Cases of the Senate.

 

 

Information prepared by

Rasma Zvejniece, the Head of the Division of Communication of the Supreme Court

E-mail: rasma.zvejniece@at.gov.lv, telephone: +371 67020396, +371 286522