From the New Year on brokers will work under new rules
The State Securities Committee has made changes and additions to the adopted February 12, 2013 "Rules of conducting brokerage activities in the securities market. The "new rules of the game" will be effective January 1, 2015.
Under the new requirements, brokers will have to take into account market, operational, concentration, settlement, counterparty, etc. Risks, as well as meet the capital requirements.
The internal structure of the brokerage company shall perform the functions of risk management, internal control and audit. This means that the number of staff brokers must comply with these functions, as well as the implementation of brokering. Today, many brokers have only three employees.
The total capital of the brokerage company shall be not less than 100 000 manats. The amount of Tier II capital can not exceed the amount of Tier I capital (paid-up shares and shares not distributed profits, capital reserves). --08B--
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- Economics
- 17 September 2014 20:02
Economics
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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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