It is registered
Ministry of Justice
Republic of Uzbekistan
On February 6, 2009 No. 1899
of November 29, 2008 No. 2008-41
About approval of the Regulations on internal control of the professional participant of the security market
According to the Law of the Republic of Uzbekistan "About the security market" (Collection of the legislation of the Republic of Uzbekistan, 2008, Art. No. 29-30, 278), the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 28, 2008 No. 160 "About additional measures for development of infrastructure of the security market" (Collection of the legislation of the Republic of Uzbekistan, 2008, Art. No. 31-32, 298) and the Regulations on the Center for coordination and market development of securities in case of Goskomkonkurention of the Republic of Uzbekistan approved by the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 30, 1996 No. 126 (Collection of the orders of the Government of the Republic of Uzbekistan, 1996, 3, of the Art. 11) I order to No.:
1. Approve Regulations on internal control of the professional participant of the security market according to appendix.
2. This order becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.
CEO
Tolipov K. F.
Approved by the Order of 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
This Provision according to the Law of the Republic of Uzbekistan "About the security market", the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 28, 2008 No. 160 "About additional measures for development of infrastructure of the security market" establishes procedure for the organization and implementation of internal control of the professional participant of the security market.
Requirements of this provision extend to the organizations performing professional activity in the security market except for of commercial banks and insurers.
1. In this Provision the following basic concepts are used:
the professional participant of the security market (the daleeprofessionalny participant) - the legal entity who performs professional activity in the security market;
internal control of the professional participant of the security market (further - internal control) - control of compliance of activities of the professional participant to requirements of the legislation, the internal documents of the professional participant connected with its professional activity in the security market (daleevnutrenny documents);
the controller of the professional participant (further - the controller) the official of the professional participant responsible for implementation of internal control according to this Provision;
authorized state body on regulation of the security market - the National agency of perspective projects of the Republic of Uzbekistan.
2. Implementation of internal control is assigned to the controller who is appointed by authorized body of management of the professional participant.
Implementation of internal control in the organization performing professional activity in the security market as investment adviser is assigned to the head of the organization.
The paragraph third is excluded according to the Order of 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 of 24.10.2011 No. 2011-18.
3. The controller is accountable in the activities to the supervisory board of the professional participant. In case of lack of the supervisory board control of activities of the controller is exercised by executive body of the professional participant.
4. In case of combination by the professional participant of professional activity in the security market implementation of internal control can be assigned to several controllers.
5. The professional participant for implementation of internal control has the right to create separate structural division under the leadership of the controller.
6. The controller is independent in the activities of other structural divisions of the professional participant.
7. The position of the controller is taken on staff of workers of the professional participant. Work as the controller shall be principle place of employment for the controller. The controller has no right to combine work at the same time at two and more professional participants.
8. The professional participant shall have the Instruction (regulations) on internal control (further - the Instruction) approved by its supervisory board. In case of lack of the supervisory board the Instruction affirms executive body of the professional participant.
9. The instruction shall contain:
procedure for appointment and dismissal of the controller;
description of functions of the controller, its rights and obligations;
procedure and terms of consideration of the arriving claims, addresses and statements;
operations procedure of the controller in case of identification of violations of the law by it and internal documents;
form and terms of submission of reporting documents by the controller;
procedure of internal control in branches of the professional participant (in the presence of the branches performing professional activity in the security market);
responsibility of the controller in cases of non-presentation or untimely submission of reports of the controller to the supervisory board and executive body.
The instruction may contain other provisions regulating implementation of internal control.
10. In the presence at the professional participant of the branch performing professional activity in the security market the controller of branch is taken on staff of employees of branch.
The controller of parent organization of the professional participant or the head of branch can perform functions of the controller of branch if the number of the workers in staff of branch performing the functions which are directly connected with implementation of professional activity by branch in the security market no more than three people.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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