Kristaps Zakulis, the chairman of the Latvian financial regulator the Financial and Capital Market Commission (FKTK), has tendered his resignation, BNS was told at the FKTK.

FKTK spokeswoman Elina Avotina said that Zakulis' decision has been well-considered.

In his statement to the press, Zakulis said in the four years in the position he and his colleagues had been working intensely to achieve the goals they had set, including in the area of prevention money laundering and financing to terrorism. Read the full story LATVIAN financial watchdog chairman quits