It is registered
Ministry of Justice
Republic of Uzbekistan
On April 2, 2008 No. 1782
of February 23, 2008 No. No. 299-B, 2008-05
About approval of the Regulations on requirements to implementation of professional activity of banks in the security market as the investment intermediary, the trustee investment assets and investment adviser
According to the Law of the Republic of Uzbekistan "About the security market", the resolution of the President of the Republic of Uzbekistan of November 7, 2007 No. PP-726 "About measures for further development of bank system and involvement of free money in bank turnover" and the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of June 7, 2022 No. 304 "About approval of administrative regulations of rendering the state services in passing of certification (recertification) by physical persons for provision of the right to implementation of transactions with securities", the board of the Central bank of the Republic of Uzbekistan and the Ministry of Economics and finance of the Republic of Uzbekistan decide:
1. Approve Regulations on requirements to implementation of professional activity of banks in the security market as the investment intermediary, the trustee by investment assets and investment adviser according to appendix.
2. This resolution becomes effective after ten days from the moment of its state registration in the Ministry of Justice of the Republic of Uzbekistan.
Chairman of the Central bank |
F.Mullazhanov |
The CEO of the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan |
|
Approved by the Resolution of Board of the Central bank of the Republic of Uzbekistan, the Center for coordination and control of functioning of the security market under the State Property Committee of the Republic of Uzbekistan of February 23, 2008 No. No. 299-B, 2008-05
This Provision determines requirements to professional activity of banks in the security market as the investment intermediary, the trustee investment assets and investment adviser.
This Provision does not extend to transactions with government securities.
1. For the purpose of this provision the following basic concepts are used:
bank - the legal entity, being the commercial organization, performing in total transactions on opening and maintaining bank accounts, carrying out payments, attraction of money in deposits (deposits), to loan granting on its own behalf determined as banking activity;
authorized state body on regulation of the security market - the National agency of perspective projects of the Republic of Uzbekistan.
2. The bank has the right to perform professional activity in the security market as the investment intermediary, the trustee investment assets and investment adviser from the moment of receipt of the license for implementation of banking activity in the Central bank of the Republic of Uzbekistan.
Receipt of the separate license by banks and passing of notifying procedures on implementation of the professional activity in the security market specified in paragraph one of this Item are not required, at the same time banks when implementing professional activity are not exempted from accomplishment of licensed requirements and conditions.
3. Professional activity of bank in the security market as the investment intermediary, the trustee investment assets and investment adviser is performed by it with observance of the requirements established by the legislation to these types of activity if other is not provided in this Provision.
3-1. When implementing of professional activity by bank in the security market as the investment intermediary, the bank shall record securities and money of each client, to perform transactions and transactions with securities according to the agreement signed with the client, to report to it on committed transactions and transactions.
4. In bank there shall be separate structural division (further - division) on which responsibility on the transactions of bank connected with implementation of professional activity in the security market as the investment intermediary, the trustee investment assets and investment adviser is conferred.
5. Employees of division are appointed in accordance with the established procedure by the relevant decision (order) of the head of bank (branch).
6. Employees of division shall have the qualification certificate of the specialist of the security market issued by authorized state body on regulation of the security market according to the procedure, established by the legislation. At the same time, the worker who is the head of this division shall have the qualification certificate of the specialist of the security market I of category.
7. The certification which is carried out for receipt of the qualification certificate of the specialist of the security market is performed according to the procedure, established in the Administrative regulations of rendering the state services in passing of certification (recertification) by physical persons for provision of the right on implementation of transactions with securities approved by the resolution of the Cabinet of Ministers of June 7, 2022 No. 304.
8. The documents on security transactions made by bank as the investment intermediary, the managing trustee investment assets and investment adviser shall be signed (are vised) by employees of division.
9. Calculation of the size of annual average cost of the investment assets which are in trust management is performed by bank by analogy with regulations of the Regulations on procedure of payments of the size of own means and annual average cost of investment assets of the trustee investment assets (reg. No. 1322 of March 5, 2004).
10. Ceased to be valid according to the Resolution registered by the Ministry of Justice of the Republic of Uzbekistan of 22.09.2015 No. 1782-2
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