Regulatory Alerts2006-02-08
Ordinance No. 23 of 08.02.2006 on the Conditions and Procedure for the Valuation of Client Assets
The Commission for Financial Supervision issued this Ordinance to establish the conditions and procedures for investment intermediaries to value client assets for calculating annual contributions to the Investor Compensation Fund and determining compensation payouts. It mandates monthly market-value assessments of financial instruments and cash, specifying valuation methodologies for listed securities, unlisted shares, and foreign currency conversions to the euro. The regulation also defines exemptions for certain professional clients, requires the maintenance of valuation rules and records for five years, and outlines administrative penalties for non-compliance.
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