I’m excited to share that we are likely only a few weeks away from becoming a licensed investment brokerage company! Once we receive the license from Latvia’s Financial Capital Market Commission (FCMC), we will enter a transition period during which the information, functions, and investment opportunities available on the TWINO platform will be gradually adapted to the new business model.

TWINO’s licensing process

We expect to receive the investment brokerage company license from the FCMC at the end of August or the beginning of September. The first loans adapted to the new requirements should become available on the platform during Autumn with our Latvian loan originator being the first to undergo the changes.

There are several steps investors will have to take to be able to invest in financial instruments (Securities). While some of them are already available to you, others will be launched in the nearest time and will show up on the Dashboard page of your TWINO account’s web version.

• Onfido identification. More than 12 000 individual investors have carried out the identification process with the Onfido software. If you have not completed this step, please note that after 13.08.2021 you will not be able to make new investments or add funds to your TWINO account. As for investors registered with a company account – the new identification process will become available to you in the upcoming week.
• Suitability and appropriateness assessment. This is an additional layer of security for your funds to identify which of our offered products correspond to your professional and investment experience with various financial instruments, your financial situation as well as investment strategy, and risk appetite.
• New User Agreement. Our legal team is working on finalizing the new agreement that will come into force once we receive the license. An overview of what’s new and a request to confirm the agreement will pop up on your Dashboard in a couple of weeks.
• Know-Your-Customer (KYC) questionnaire. Since the launch of our KYC questionnaire in 2018, some of the requirements for the information we must obtain from our investors have changed or the details provided by you could be outdated, thus we will require you to fill the KYC form again.
• Legal Entity Identifier (LEI) code for investors registered with a company account. Once we start offering securities on the TWINO platform, such investments will not be available for companies that do not have a valid LEI code.

We will make sure to follow up with more information on what the TWINO investment brokerage company license brings to the table for you as soon as we receive it.