Latvian state changes top regulators over AML

Latvia's parliament

Latvia’s government effectively sacked the entire top management of its financial regulatory agency after parliament changed the law allowing it to do so.

The country’s prime minister said the drastic moves were necessary to deal with foreign countries’ criticism of Latvia’s anti-money laundering record. Before the law was passed, the head of the financial regulator in turn accused the Latvian government of “an unprecedented case of political interference”.

The dramatic moves come after

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