Head of the Financial and Capital Market Commission resigns

RIGA - Head of the Financial and Capital Market Commission - Irena Krumane (pictured), has decided to step down, news agency LETA reported on Nov. 28.

Krumane told the business portal Nozare.lv that she had decided to resign, believing that the tension regarding her continuing her job would hamper the work of the Commission, and any political debates, including the one planned in Saeima, will delay stabilization of the sector.

“The decisive action by the Financial and Capital Market Commission after the establishment of a possible crime was aimed at preserving the assets [of "Latvijas Krajbanka"] and protection of depositors’ interests, therefore it cannot serve as a cause for reproaching the commission with inaction,” said Krumane.

Krumane says she has always been swift to take measures if a flaw was established in the commission’s operations and hopes that the other members of the Financial and Capital Market Commission’s Council fulfill their duties as responsibly as she does.