Country Manual Private Banking
Macedonia
BRP has updated its Country Manual Private Banking for
Macedonia out of Bank’s Country of Establishment (DEF, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | Yes |
| New Position of the Authorities | Yes |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
The Country Manual has been reviewed to ensure that the content of all documents remains accurate and in line with the evolving interpretation of the current regulatory framework. While the overall approach largely remains the same, some legal bases have been updated, and a more restrictive approach is taken with regard to generic activities on North Macedonian territory. Also, more details are now provided on restrictions due to foreign exchange regulation.
Material changes
Some content has been reworded, without introducing any material changes.
Non-material changes
With respect to the provision of documentation to the EAM (such as documentation on the Bank’s banking and investment services, investment research and financial analysis or recommendation lists), our Country Manual now distinguishes between the provision to the EAM for remittance to the end client on one hand and the provision to the EAM for the EAM’s own professional purposes on the other hand. The answers have been amended accordingly.
BT Short Comparison
This document allows users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “MACEDONIA” in the Target Country Field.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
For more information, please contact us: info@brpsa.com
Geneva, February 17th, 2025