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--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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