New BRP Country Manual Products
Azerbaijan
BRP has updated
its Country Manual Products
for Azerbaijan out of Bank’s Country of Establishment (DEF, RO & BT)
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | Yes |
Definitions & Concepts, Regulatory Overview and Behaviour Template
The Country Manual has been reviewed to ensure that the content of all the documents remain accurate and up to date.
Material changes
In alignment with the Country Manual Private Banking (CM PB), it is highlighted the provision of Macroeconomic information/reports is only permitted on an occasional basis onshore in Azerbaijan (at target). The CM P BT therefore now provides the answer “Grey zone/YES” in the relevant onshore scenarios.
In addition, a distinction is no longer made between the provision of advisory services based on a written advisory agreement and such provided without formal basis. In the CM P BT, the two situations “advice within an ongoing advisory agreement” and “advice without/outside the scope of an ongoing advisory agreement (spot advice)” are therefore now treated equally and are only permitted in accordance with the “current market practice”.
Non-material changes
Some comments and content have been slightly reworded in the CM, without introducing substantive changes to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
For more information, please contact us: info@brpsa.com
Geneva, April 3rd, 2025