Regulatory Alerts2012-02-14 | 35/04Rules for Determining, Imposing and Enforcing Monetary Penalties for Violations of Securities and AML Legislation
The National Bank of Georgia issued Order N35/04 to establish the procedural framework for imposing monetary penalties on securities market participants and their governing bodies for regulatory violations. The rules specify fixed fine amounts in Georgian Lari for infractions including improper public offerings, failure to submit required reports, insider trading, and market manipulation. Additionally, the document details a tiered penalty structure for brokerage companies violating anti-money laundering and counter-terrorist financing obligations, ranging from minor procedural lapses to severe compliance failures.
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