BAKU, Azerbaijan, December 20. Amendments have
been made to the “Procedure for Providing Investment Services
(Operations) by Investment Companies and Banks,” which was approved
by the Board of the Central Bank of Azerbaijan on August 31, 2021,
Trend
reports.
The decision was signed by Governor of the Central Bank of
Azerbaijan (CBA), Taleh Kazimov.
According to the new regulations, employees of companies and
banks engaged in investment activities related to client orders
cannot simultaneously conduct securities or derivative financial
instrument operations for their accounts as members of the central
depository and stock exchange.
Additionally, employees involved in securities or derivative
financial instrument operations on their accounts as members of the
central depository and stock exchange cannot simultaneously provide
investment advisory services or manage private investors’
portfolios.
All bank employees involved in investment services (operations)
must hold the appropriate qualification certificates.
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