Regulatory Alerts2025-03-13 | 8134Central Bank of Armenia Resolution No. 40-N Adding Sanctions and Criminal History Checks to Foreign Investment Fund Registration
The Central Bank of the Republic of Armenia issued Resolution No. 40-N to align investment fund manager requirements with international standards. The resolution amends Regulation 10/11 by adding mandatory questions regarding beneficial owners' inclusion in UN terrorism lists and history of intentional crime convictions. These additions apply to the registration of investment funds and the sale of foreign investment fund securities in Armenia.
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Introducing an Addition to the Republic of Armenia Central Bank Board Resolution No. 117-N, dated May 2, 2011
2025-03-13
THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA
BOARD RESOLUTION
March 13, 2025 ; No.
40-N
Introducing an Addition to the Republic of Armenia Central Bank Board Resolution No. 117-N, dated May 2, 2011
Publication date` 13.03.2025
For the purpose of aligning the requirements to managers and qualifying holders with international standards and increasing the effectiveness of the procedures in use; In view of Article 62.1 of the Republic of Armenia Law “On Investment Funds”, and Article 61.1 of the Republic of Armenia Law “On Securities Market”; Pursuant to Article 2 (3) and Article 20 (1) (“e”) of the Republic of Armenia Law “On the Central Bank of the Republic of Armenia”, and Article 33 (1) and (3) and Article 34 of the Republic of Armenia Law “On Normative Legal Acts”, the Board of the Central Bank of the Republic of Armenia
E n a c t s:
- Subsequent to point 10, add the following content as points 10.1 and 10.2 in Appendix 8 to Regulation 10/11 “Registration of Investment Fund (Fund Rules); Terms and Conditions for Granting Preliminary Permission for Selling Foreign Investment Fund Securities in the Republic of Armenia” as endorsed under the Republic of Armenia Central Bank Board Resolution No. 117-N, dated May 2, 2011 on “Approving Regulation 10/11 “Registration of Investment Fund (Fund Rules); Terms and Conditions for Granting Preliminary Permission for Selling Foreign Investment Fund Securities in the Republic of Armenia””:
“
10.1 Is the beneficial owner included in the lists of persons related to terrorism or proliferation of weapons of mass destruction published under or in accordance with the United Nations Security Council resolutions?
o No
o Yes, please provide details (date (day/month/year), any legal grounds)
10.2 Has the beneficial owner ever been convicted of an intentional crime?
o No
o Yes, please provide details (including about whether the conviction has been expired or expunged in accordance with the procedure prescribed by law)
”.
- This resolution to enter into force on the day following its official publication.
Martin Galstyan Governor,
Central Bank of the Republic of Armenia
Yerevan
.