Yerevan/Mediamax/. Financial organizations of Armenia committed 1043 legislative violations in 2010, about half of those violations falling on the share of banks.

Mediamax reports referring the report of the Central Bank “Armenian Financial System: Developments, Regulation, Control”, Armenian Banks committed all in all 697 violations in 2010, 509 of which legislative, 2 normative, 31 violations in financial reporting, 99 cases of provision of unauthentic data, 32 violations in credit register, 10 in the order of classification of acts, 8 violations because of delays in provision of reports and 6 violations because of non-fulfillment of orders.

Credit organizations committed 126 violations last year, and insurance companies – 417. Pawnshops committed 285 violations last year, and payment-account organizations - 4.

In 2010, CB made 587 warnings to banks, 489 times applied fine sanctions, 7 times fines heads of banks.

The number of fine sanctions against credit organizations and insurance companies made 58 and 223 respectively, and the number of warnings – 92 and 243 respectively. At that, one of the heads of credit organizations was deprived by CB of professional qualification certificate because of violations.