tutional investors are present at GSE (Objective 20);
В· Larger volumes of capital resources are directed to GSE (Objective 18);
В· There is a competition at GSE (Objective 22);
В· There is a strong market for corporate control (Objective 30). br/>
В· Private Pension Funds start functioning in the country;
В· Mutual Funds start functioning in the country;
В· Large domestic institutional investors take part in trading at GSE;
В· Volume of trades at GSE is increased substantially;
В· Number of participants in trading at GSE is increased;
В· Investment funds take active role in the work of supervisory boards/shareholders meetings.
PoG
MoF
NSCG
GSE
В· 1 year
В· With the technical assistance of the WB.
В· Adopt the investment compensation schemes;
В· Strengthen the bankruptcy system;
В· Adopt the rules for takeovers.
В· Adequate legislation for investor protection is adopted (Objective 24);
В· Financial intermediaries are well-developed (Objective 21);
В· Large domestic institutional investors are present at GSE (Objective 20);
В· Larger volumes of capital resources are directed to GSE (Objective 18);
В· There is a competition at GSE (Objective 22);
В· There is a strong market for corporate control (Objective 30). /Td>
В· Investment compensation schemes are in place;
В· Regulations for the bankruptcy system are in place;
В· Rules for takeovers are in place;
В· Large domestic institutional investors take part in trading at GSE;
В· Volume of trades at GSE is increased substantially;
В· Number of participants in trading at GSE is increased;
В· Investment funds take active role in the work of supervisory boards/shareholders meetings.
MoF
NSCG
GSE
В· 1 year
В· With the technical assistance of the WB.
В· Assign an adequate Inspection, Investigation and Enforcement power, including the criminal prosecution authority to the National Securities Commission of Georgia (NSCG);
В· Increase the budgetary support of the NSCG;
В· Make the NSCG accountable to the President of Georgia;
В· Develop the code of ethics for NSCG;
В· Develop the program to supervise Self-Regulatory Organizations (SROs);
В· NSCG installs the market surveillance and stock watch system.
В· Power of the NSCG is increased (Objective 40);
В· Budgetary support of th...
