On December 6, 2022, the Council of the Financial and Capital Market Commission (FCMC) has decided to allow the reorganization of AS IBS "Renesource Capital" (Company) by re-registering it as a commercial company, the activity of which is not related to the provision of investment services and investment-related services. With the entry into force of this decision, the intermediary activity license issued to AS IBS "Renesource Capital" becomes invalid.
This decision of the FCTC was made based on the decision taken at the extraordinary shareholders' meeting of AS IBS "Renesource Capital" on November 23, 2022 to renounce the intermediary activity license of the investment brokerage company and to do everything necessary to ensure the cancellation of the intermediary activity license of the Company.
AS IBS "Renesource Capital" changes its name accordingly and will apply for the name change in the Commercial Register in the near future.
The company has ensured the protection of clients' interests and information disclosure to its clients, as well as fulfilled its obligations towards all its clients.
AS IBS "Renesource Capital" has been operating in Latvia since 1998. The company gave its Clients the opportunity to invest in the most diverse financial instruments and markets in the world, from the Baltics, Scandinavia, Europe, North America, Russia and Asia to exotic and local hard-to-reach markets in Africa and Latin America. On the other hand, legal entities have had the opportunity to ensure or hedge against unfavourable price fluctuations of raw materials and goods by providing a range of complex services and developing strategies.
The company offered a full spectrum of investment services, ranging from traditional brokerage and depository operations, trading exchange and over-the-counter markets in financial instruments such as stocks, bonds, mutual funds, commodities and commodities, currencies, precious metals, as well as value-added services such as securities lending and borrowing transactions, organizing the issuance of financial instruments, asset management and financial consulting.