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License for professional activity on the securities market
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Description of the service


The service is provided as information about licenses for professional activity in securities market.

Sphere of the service

Banking and Financial Services

Category of the service recipient


Individuals and legal persons.

The organization

Center for coordination and development of securities market

Contacts

Address: 10, Bukhara Str., Tashkent, 100047, Republic of Uzbekistan


Phones: +998 (71) 236-06-35


Fax:+998 (71) 232-07-31


E-mail: info@csm.gov.uz

Documents required to get the service


In order to obtain a license, Applicant shall submit the following documents to licensing authority:



а) Application (written request) for a license, indicating:



name and legal form of entity, its location (postal address);



name of the bank and deposit account in the bank;



professional activity in securities market, which Applicant intends to realize;



b) a copy of certificate of state registration as a legal entity;



c) a document confirming that Applicant paid a license fee for consideration of its application by licensing authority;



d) notarized copies of constituent documents with all amendments and supplements;



e) a copy of balance sheet stamped by tax authority and copy of report on financial results for the last reporting date (except when Applicant is created after the last reporting date);



f) calculation of the amount of own funds (capital) for the last reporting date in accordance with procedure approved by licensing authority;



g) copies of documents confirming compliance of manager and employees of Applicant (excluding investment funds) to the qualification requirements of the licensing authority, including copies of Applicant - legal entity on hiring of employees to work on a permanent basis, as well as copies of documents confirming work experience of persons exercising the functions as sole executive body;



h) order of storage, protection and recovery information, including list of measures aimed against misuse of confidential information, approved by Applicant;



i) other documents listed in Paragraphs 10-15 of Regulation required for licensing of professional activity in the securities market;



j) as for newly created legal entities involved in formation of equity due to contribution of funds in non-monetary form, the evaluation report shall be provided. In case if putting funds for forming its own funds, the Applicant must submit a bank certificate that he has funds in his bank account according to standards established by the licensing authority.



k) a copy of Regulation on Internal Control.



At the same time, in order to obtain licenses for certain part of current professional activities in the securities market, it is necessary to additionally submit other documents.



- In order to obtain license for professional activity as investment broker, investment adviser and trustee of investment assets, the Applicant shall additionally submit the following documents:



а) a copy of Rules of internal accounting transactions in securities approved by Applicant;



b) copy of Order of actions of investment broker (investment adviser and trustee of investment assets) in conflict of interest with the client, approved by Applicant.



- To obtain a license to realize professional activities as an investment fund, the Applicant shall additionally submit the following documents:



a) a certified, by Licensee, copy of preliminary licensee agreement on contract between the investment fund and trustee of investment assets;



b) certified, by Licensee, copy of preliminary licensee agreement oncontract between the investment fund and Central Securities Depository.



- In order to obtain license for depository activity, Applicant shall additionally submit the following documents:



a) Rules of customer service;



b) internal regulations conforming to requirements of the licensing authority for depository activities;



c) a copy of copyright License Agreement for commercial use of software for depository activities concluded with organization that sold (transferred) this software tool or copy of certificate confirming copyright in case of presence of own software tools for depository activities;



d) technical description of software for depository activities;



e) list of hardware used to realize depository activities, together with their characteristics;



f) Conclusion of Central Securities Depository about compliance software and hardware to requirements for program- technical complexes of depositories and readiness to electronic interaction with professional participants of securities market.



- In order to obtain license for professional activity in the securities market as clearing chamber, Applicant shall additionally submit the following documents:



a) a copy of copyright license agreement for commercial use of software for clearing activities concluded with organization that sold (transferred) this software tool or copy of certificate confirming copyright in case of presence of own software tools to realize clearing activities;



b) technical description of appropriate software;



c) Rules of clearing (clearing service).



- In order to obtain a license for professional activity in securities market as a transfer agent, Applicant shall additionally submit the following documents:



a) Regulations of transfer-agent;



b) standard contract for transfer agent services.



- In order to obtain a license to realize professional activities as an organizer of OTC securities trading, Applicant shall additionally submit the following documents:



a) a copy of copyright license agreement for commercial use of software for realize of activities of OTC organization concluded with organization that sold (transferred ) this software tool or copy of a certificate of copyright, in case of presence of own software tools;



b) technical description of appropriate software;



c) Terms of trade in securities, including provisions on procedures for admission to treatment and exclusion from trading securities and price quotations for securities;



d) method of calculation of indexes;



e) procedure for admission of participants by organizer of OTC securities trading;



f) procedure for disclosure of information;



g) list of measures against to preventing price manipulation.

Legal basis for service provision


Resolutions of the Cabinet of Ministries №27 dated of 20 February 2006, and №181 dated of August 23, 2007

Cost and method of payment for the service


State fee for simultaneous issuance of license for two and more part of professional activity on the securities market:



  • four times more of amount of minimum wage;

  • five times more of amount of minimum wage.

Period of dealing with an application


Immediately.

Methods for obtaining results


Personally, through a legal representative, by mail, in electronic form, by phone.

Result of the service


Obtain of information.

Reasons for refusal


Not provided.

Order of appeal


The letter to Center for Coordination and Development of Securities Market.

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