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Asset management license

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Asset management license

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  1. Asset Management license

  2. Activities allowed: implement investment policy of a collective investment undertaking or a pension schemeon the basis of the undertaking regulations; Consulting on securities issuance and money arising services  manage investment portfolios and monetary funds, including issuance, sale, and redemption of securities (units) of a collective investment undertaking, rendering nominal undertaking/scheme asset ownership services and perform other operations defined by the regulations of the supervisory authority; Receiving and transmitting clients orders in connection with securities, effecting transactions in securities for clients' accounts, with clients' funds   store and keep records of investment resources and/or securities, keeping a register of investors (including investment unit holders), issuing extracts from the register and distributing revenues; Holding clients' investment funds and/or securities, providing safekeeping, custody and nominee services for securities  assess and periodically re-assess assets of a collective investment undertaking and a pension scheme; Arranging and carrying out the distribution of the issuer's securities on a guaranteed basis communicate with depository and other market participants in the process of managing the undertaking assets and implementing investment policy, as well as defend the interests of the undertaking in its relations with third persons;  submit periodically reports on the company activity to a founder, unit holders,and a supervisory authority of the undertaking/scheme, in the form developed and within the timeframes determined by the supervisory authority. 

  3. Requirements  Have minimum 500k gel under management within 1 year  Be registered under a JSC or LLC  Provide respective certificate from registry of companies to the NBG  Management of the company should present certificate of non-conviction  Information on the significant shareholder (10% and more)  Proof of payment of license fee  experience in securitie market field activities or in banking organizations, which provides everyday activities in financial markets  2 or 5 years experience of working as a head of asset management (depends if resident or non-resident) or as an accountant in asset management company Or 1 year experience working as a deputy of asset management company or working experience as a head or main accountant in asset management’s branch

  4. Documents needed  Certificate of incorporation, memorandum and articles of the JSC or LLC  Criminal record on the last 10 years for every members of the board  Information about the applicant's and other members’ identity , who directly or indirectly own a significant share (10% or more), documents must be notarized and apostilled.  Documents than prove the experience and education of each director  Payment proof of the license

  5. www.Kaukapital.com

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