Regulatory Alerts2021-07-12
Added · Updated
Regulations on opening and maintaining cash accounts and making money transfers by the depositary of the investment fund
The State Committee for Securities of the Republic of Azerbaijan issued Resolution No. 15 to establish rules for investment fund depositaries regarding the opening and maintenance of cash accounts. The regulations mandate that depositaries maintain separate cash accounts for each fund, strictly prohibiting the use of these funds as security for the depositary's own obligations. Furthermore, the document details specific procedural requirements for account opening, verification of payment orders, and the transfer of assets in the event of a depositary's liquidation.
Topics
securities
safeguarding
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