On the imposition of Monetary Fine to the Securities Registrar JSC “United Registrar of Georgia’s Securities”  (Identification number 205156374)

    A Fine of GEL 7000 (Seven thousand) was Imposed on the Securities Registrar JSC “United Registrar of Georgia’s Securities”  for:

     

    1. Internal Regulations and Rules of Procedures established by the Securities Registrar fail to comply with the obligations set out under the Law of Georgia “On Facilitating the Suppression of Money Laundering and Terrorism Financing” as well as the Guidelines issued by the National Bank of Georgia, which according to the Rules adopted by the Decree of the President of the National Bank of Georgia on February 14, 2012 №35/04 “On determining, imposing and executing monetary penalties for persons and the members of the governing body for the breach of the Legislation “On Securities”, Georgia’s Law “On accounting, reporting and auditing”, and the Legislation “On Facilitating the Suppression of Money Laundering and Terrorism Financing" envisages fine with the amount of 3 000 (three thousand) Lari under the article 52 paragraph 3 subparagraph "I";
    2. A Financial Penalty of 1 000 (Thousand) Lari was imposed on the Registrar for 1 (one) case of failure to submit accurate Risk Supervision Report for the First half of the year 2020 (period between January 1, 2020 – June 30, 2020 ), which according to the Rules adopted by the Decree of the President of the National Bank of Georgia on February 14, 2012 №35/04 “On determining, imposing and executing monetary penalties for persons and the members of the governing body for the breach of the Legislation “On Securities”, Georgia’s Law “On accounting, reporting and auditing”, and the Legislation “On Facilitating the Suppression of Money Laundering and Terrorism Financing" envisages fine with the amount of 1 000 ( thousand) Lari on each case of infringement.
    3. A Financial Penalty of 1 000 (Thousand) Lari was imposed on the Registrar for 1 (one) case of failure to submit accurate Risk Supervision Report for the Second half of the year 2020 (period between July 1, 2020 – December 31, 2020), which according to the Rules adopted by the Decree of the President of the National Bank of Georgia on February 14, 2012 №35/04 “On determining, imposing and executing monetary penalties for persons and the members of the governing body for the breach of the Legislation “On Securities”, Georgia’s Law “On accounting, reporting and auditing”, and the Legislation “On Facilitating the Suppression of Money Laundering and Terrorism Financing" envisages fine with the amount of 1 000 ( thousand) Lari on each case of infringement.
    4. A Financial Penalty of 2 000 (Two Thousand) Lari was imposed on the Registrar for 2 (two) cases of failure to submit accurate Risk Supervision Report for the Second half of the year 2021 (period between January 1, 2021 – June 30, 2021), which according to the Rules adopted by the Decree of the President of the National Bank of Georgia on February 14, 2012 №35/04 “On determining, imposing and executing monetary penalties for persons and the members of the governing body for the breach of the Legislation “On Securities”, Georgia’s Law “On accounting, reporting and auditing”, and the Legislation “On Facilitating the Suppression of Money Laundering and Terrorism Financing" envisages fine with the amount of 1 000 ( thousand) Lari on each case of infringement.