Regulatory Alerts2018-07-05 | 145/04Rule of Licensing and Regulating of a Brokerage Company
The President of the National Bank of Georgia issued Order №145/04 to approve new regulations governing the licensing and ongoing supervision of brokerage companies. The rule establishes strict criteria for management body qualifications, mandates minimum capital requirements of GEL 500,000 or GEL 150,000 depending on activity scope, and enforces rigorous separation and reconciliation of client assets. It further details the application procedures, grounds for license revocation, and specific compliance obligations for both domestic entities and branches of foreign brokerage firms.
Share