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Latvian banking regulator appoints new head

Xinhua, February 12, 2016 Adjust font size:

The Latvian parliament on Thursday unanimously approved Peteris Putnins as the new head of the banking regulator, the Financial and Capital Market Commission.

Putnins was appointed the regulator's new head by 92 votes, with nobody voting against or abstaining.

After the vote, Putnins said he intended to improve the quality of the commission's work, enhance the supervision system and clamp down on money laundering more efficiently.

Since the end of 2012, Putnins had been working as the regulator's deputy head.

Kristaps Zakulis stood down as head of the Latvian Financial and Capital Markets Commission on Jan. 25 amid criticism about poor supervision of Latvian banks, according to local media reports. Endit