Regulatory Alerts2020-12-16 | 223/04Order on Approving the Procedure for Recognizing a Person as a Sophisticated Investor
The President of the National Bank of Georgia issued Order N 223/04 to establish the legal framework and criteria for classifying individuals and entities as sophisticated investors in Georgia. The regulation defines automatic eligibility for financial institutions and high-net-worth persons while allowing intermediaries to grant status based on specific financial thresholds or professional experience. Securities market intermediaries are mandated to implement verification procedures, obtain written consent regarding risk awareness, and manage status changes for clients.
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