Regulatory Alerts2016-05-05 | 48/04Rule for Completing Reports and Presenting Information for Illicit Income Legalization and Terrorist Financing Risk Supervision in Brokerage Companies
The President of the National Bank of Georgia issued Order No. 48/04 to approve a regulatory rule requiring brokerage companies to submit detailed reports on illicit income legalization and terrorist financing risks. The regulation mandates the use of specific reporting forms to disclose client structures, transaction volumes, geographical areas, and high-risk activities for remote supervisory assessment. Brokerage companies must accurately record transaction data in national currency and provide identification details for all clients to ensure adequate internal control and risk monitoring.
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