SCS and BSE staff studied the experience of European capital requirements of investment companies
The State Committee for Securities (SCS) holds a workshop on "Capital requirements for investment companies." Ironically, they have not invited local companies that could become the initiators of the country's investment funds.
The press service of the State Committee for Securities told Turan that the seminar is held for employees of SCS and BSE by the experts of the Polish Financial Supervision Agency and the Financial Supervisory Authority of Germany. It is organized under the twinning project "Harmonization of the Azerbaijani legislation on securities market legislation of the European Union and the institutional development of SSC."
The purpose is to create a regulatory framework for the capital adequacy of investment firms to EU directives.
The Law "On Investment Funds" has been operating in Azerbaijan since December 2010. The minimum capital requirement is 500 000 manats. Investment funds are licensed activities. To date, the country has not created any investment company. -08D-
Economics
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