Regulatory Alerts2024-02-26
Corporate Governance Standards in Investment Companies
The Central Bank of the Republic of Azerbaijan has issued comprehensive corporate governance standards for investment companies and their local foreign branches to establish reliable management, transparent reporting, and effective internal control. The regulations mandate that investment companies implement robust strategic planning, integrate environmental, social, and governance factors, and maintain a Supervisory Board with clearly defined fiduciary duties and risk oversight responsibilities. Furthermore, the standards require transparent remuneration policies, independent audit and compliance committees, and strict ethical conduct rules to ensure long-term financial stability and accountability to stakeholders.
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