The President of Uzbekistan signed a law to amend and supplement 11 legislative acts, including the laws "On joint stock companies and protection of shareholders’ rights", "On limited and additional liability companies" and "On the securities market".
The total volume of transactions concluded in the first half of 2020 on all trading platforms of the Uzbek Republican Commodity and Raw Materials Exchange (UzEX) made up 25.4 trillion soums, which is 22% higher than the same indicator for the 1st half of 2019.
The Presidential Decree “On Additional Measures to Further Develop the Competitive Environment and Reduce State Participation in the Economy” was adopted.
Last week, the initial issue of shares of Mega Pro Business (Tashkent), which became a joint stock company, was put on depositary account. The state registration of the issue of shares was carried out on 29 June 2020. The initial authorized capital of the company is 29.24 billion soums. Head of the company is Akhmatakhunov Eldor Tolkunbaevich.
In order to ensure efficient operations and optimize the business processes of the Uzbek Republican Currency Exchange, a quality management system has been developed and implemented that meets the requirements of the international standard ISO 9001:2015.
Uzbekistan Capital Market Development Agency provided the American financial company Bluestone Financial Group Inc. licenses for the right to provide the services of an investment intermediary, an investment adviser and a trustee for investment assets.
The Agency for Development of the Capital Market of Uzbekistan intends to become an official signer of a multilateral memorandum of understanding on consultation, cooperation and information exchange (IOSCO MMOU) by the end of this year. The relevant issue was discussed on 13 April at a video conference with the participation of the Agency’s leadership and representatives of the IOSCO secretariat, headed by the Senior Advisor of the organization, Isabelle Pastor, the agency’s press service said.
Tursunboy Makhkamov has become First Deputy Director of Capital market development agency by the presidential decree of 16 March.
On 2 March, the Agency for the Development of the Capital Market issued licenses to an investment intermediary, an investment adviser, and a trustee for investment assets of SQB Securities LLC, which is part of Uzpromstroybank JSCB group.