Amendments have been made to the “Procedure for the provision of investment services (operations) by investment companies and banks”, approved by decision of the board of the Central Bank of Azerbaijan dated August 31, 2021 No. 23/1.
According to Day.Az, a decision in this regard was signed by the Chairman of the Central Bank of Azerbaijan Taleh Kazimov.
According to the decision, an employee of a company and bank engaged in investment activities in accepting and executing customer orders cannot simultaneously, as a member of the central depository and stock exchange, engage in investment activities for his own account in conducting transactions with securities or derivative financial instruments.
An employee of a company who is engaged in investment activities involving transactions in securities or derivative financial instruments for his own account as a member of the central depository and stock exchange cannot simultaneously engage in the activity of providing investment advice or managing a portfolio of private investors.
All bank employees performing investment services (operations) must have an appropriate qualification certificate.