On 23 June 2018, a new regulation was published by the Minister of Finance concerning the detailed technical and organisational conditions applicable to investment firms.
The regulation sets forth new notification and information obligations for brokerage houses when they establish security in financial instruments as well as document/activity logging and archiving obligations.
Major changes for the brokerage houses result from the requirement to show relevant knowledge and experience of both the staff as well as members of the corporate bodies.
Investment firms are required to adapt to the new regulations by 21 October 2018.
