Regulatory Alerts2020-07-21 | 142/04Order No. 142/04 Approving the Rule on Activity of Foreign Exchange Market Participants
The National Bank of Georgia issued Order No. 142/04 to approve the Rule on Activity of Foreign Exchange Market Participants, establishing mandatory standards for licensed commercial banks, brokerage companies, and registered microfinance organizations. The rule mandates strict transparency, fair pricing, and information disclosure while explicitly prohibiting front-running, market manipulation, and anti-competitive practices. It further requires robust risk management frameworks, internal controls, and record-keeping, with the National Bank authorized to issue warnings or suspend market access for non-compliance.
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