Regulatory Alerts2021-06-02
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Regulations on Issuance, State Registration and Circulation of Depository Receipts
The State Committee for Securities of the Republic of Azerbaijan issued Resolution No. 30-q to establish the regulatory framework for the issuance, state registration, and circulation of depository receipts. The document mandates that the central depository issues these receipts backed by foreign securities with specific credit ratings and requires the Committee to approve the issue prospectus within twenty business days. It further outlines procedures for suspending placements due to violations, reporting on placement results, and returning funds to investors if an issue is deemed invalid.
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