Procedure for checking activity in financial markets endorsed

16:19 - 20.02.2024

February 20, Fineko/ The Board of the Central Bank has approved the Procedure for checking activity in financial markets.

ABC.AZ reports that CBA chairman Taleh Kazimov signed a new decision.

At that, the "Banking Activity Auditing Rules", "Procedure for auditing licensed activity in the securities market", "Procedure for auditing professional activity in the insurance market" of the abolished Financial Markets Supervision Chamber will be cancelled.

Under the decision, the head of the audit group, after submitting the notification, must contact the head of the executive body of the control entity in order to prepare the necessary documents. The decision to conduct an audit must be submitted to the head or an authorized official of the executive body. Inspections should be carried out during the working day and working hours of the subject of control, without interfering with his activities.

In addition, the results of each audit should be written in a report, and the content of the report should be legible and understandable. It is not allowed to include various information in the report that has not been confirmed.