Country Manual Private Banking – Kazakhstan – BRP Update 2024
BRP has updated its Country Manual Private Banking for Oman out of bank’s country of establishment (DEF, RS, BT and RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | No |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
The Country Manual has been reviewed to ensure that the content of all documents remains accurate and up to date. We can confirm that there have been no major material changes or modifications of the relevant Omani cross-border legislation since the last update.
Please note that the Capital Market Authority has not yet issued the Implementing Regulations of the Securities Law. A draft of these Regulations was circulated for public consultation at the end of last year, but according to our local counsel there is often a significant interval between such draft legislation and the issuance of the final legal text.
Non-material changes
The documents have been reformatted onto the latest template. Some content have been reworded, without introducing material changes, to provide more clarity.
Implications for business relations with third parties
The documents having been reformatted onto the latest template, this section now provides more answers, notably to better distinguish between the provision of documentation to the EAM for its own use and provision of documentation for its subsequent distribution to end-clients.
Regulatory Summary
This document has now a more user-friendly layout and reflects the changes contained in the RT.
BT Short Comparison
BRP has created a comparison document allowing 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 “OMAN” 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, March 26th, 2024