# Investment firm licence (Latvia) Source page: https://protegra.io/licensing/licences/investment-firm/latvia/ The Investment firm licence is issued by Latvijas Banka (LB) under Law on Investment Firms. It can be passported to the other EU/EEA states by notification. The official register lists 13 current holders. Ownership changes need the regulator's approval before completion. ## At a glance | Official name | Investment firm licence [1] | | --- | --- | | Issued by | [Latvijas Banka](https://protegra.io/licensing/regulators/latvijas-banka/) | | Jurisdiction | [Latvia](https://protegra.io/licensing/jurisdictions/latvia/) | | Licence family | [Investment firm / broker-dealer](https://protegra.io/licensing/licences/investment-firm/) | | Legal basis | Law on Investment Firms [1]; Directive 2014/65/EU on markets in financial instruments (MiFID II) [2]; Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV) [3] | | Passporting | EU/EEA passport available | | Public register | [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms) [4] | | Current holders | 13 [4] | ## What it lets you do - [Reception and transmission of orders](https://protegra.io/licensing/activities/order-reception-transmission/) - [Execution of orders on behalf of clients](https://protegra.io/licensing/activities/order-execution/) - [Dealing on own account](https://protegra.io/licensing/activities/dealing-own-account/) - [Portfolio management](https://protegra.io/licensing/activities/portfolio-management/) - [Investment advice](https://protegra.io/licensing/activities/investment-advice/) - [Underwriting or placing on a firm commitment basis](https://protegra.io/licensing/activities/underwriting-firm-commitment/) - [Placing without a firm commitment](https://protegra.io/licensing/activities/placing-without-commitment/) - [Operating a multilateral trading facility (MTF)](https://protegra.io/licensing/activities/operating-mtf/) - [Operating an organised trading facility (OTF)](https://protegra.io/licensing/activities/operating-otf/) - [Safekeeping and administration of financial instruments](https://protegra.io/licensing/activities/safekeeping-financial-instruments/) - [CFD and forex brokerage](https://protegra.io/licensing/activities/cfd-fx-brokerage/) - **Reception and transmission of orders.** Receiving client orders in financial instruments and passing them to another firm for execution. - **Execution of orders on behalf of clients.** Concluding agreements to buy or sell financial instruments on behalf of clients. - **Dealing on own account.** Trading financial instruments against proprietary capital, which includes acting as counterparty to client trades. - **Portfolio management.** Managing client portfolios that include financial instruments on a discretionary, client-by-client basis. - **Investment advice.** Giving personal recommendations to a client about one or more transactions in financial instruments. - **Underwriting or placing on a firm commitment basis.** Guaranteeing the sale of an issue of financial instruments by committing to buy what is not sold to investors. - **Placing without a firm commitment.** Placing financial instruments with investors on a best-efforts basis, without guaranteeing the sale. - **Operating a multilateral trading facility (MTF).** Running a multilateral system, other than a regulated market, that matches third-party interests in financial instruments under non-discretionary rules. - **Operating an organised trading facility (OTF).** Running a multilateral system for non-equity instruments where the operator exercises discretion over order execution. - **Safekeeping and administration of financial instruments.** Holding financial instruments for clients and related services such as cash and collateral management, as an ancillary service. - **CFD and forex brokerage.** Offering retail and professional clients contracts for difference and rolling spot forex, usually as dealing on own account or order execution. ## Where it is valid _Issued in Latvia (gold); can be passported to the other EU/EEA states (blue) by notification._ ## Buying a company that already holds it **Prior approval required.** Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval. [5] ## Laws behind it - [Directive 2014/65/EU on markets in financial instruments](https://protegra.io/licensing/laws/eu-mifid2-2014-65/): Directive 2014/65/EU - [Capital Requirements Directive](https://protegra.io/licensing/laws/eu-crd-2013-36/): Directive 2013/36/EU - [Capital Requirements Regulation](https://protegra.io/licensing/laws/eu-crr-575-2013/): Regulation (EU) No 575/2013 ## Sources 1. [likumi.lv: 332418](https://likumi.lv/ta/en/en/id/332418): retrieved 2026-09-24 2. [eur-lex.europa.eu: HTML (32014L0065)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32014L0065): retrieved 2026-09-24 3. [eur-lex.europa.eu: HTML (32013L0036)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32013L0036): retrieved 2026-09-24 4. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms): retrieved 2026-09-24 5. [bank.lv: procedure for the evaluation of qualifying holding](https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding): retrieved 2026-09-24 Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.