In accordance with Circular 239 – Financial and Capital Market Commission of Latvia (the “FCMC”) – Law on the Financial Instruments Market regarding the natural and legal persons that are allowed to provide/ perform investment services/ activities in the Republic of Latvia, CySEC informs Cypriot Investment Firms to adjust their business models to include new specifications when soliciting clients within the territory of Latvia. In summary, a foreign investment firm must engage clients through an approved by FCMC, branch or tied agent and all marketing material provided must clear, fair, not misleading, identifiable as such.
