e NSCG is increased (Objective 37);
В· Accountability of the NSCG is increased (Objective 36);
В· Code of ethics for the NSCG staff is developed (Objective 38);
В· Program to supervise Self-Regulatory Organizations (SROs) is developed (Objective 39);
В· The NSCG does function in an effective manner (Objective 39);
В· Regulations are enforced in an effective manner (Objective 42);
В· Trading transparency is enforced (Objective 43);
В· Unfair trading is deterred (Objective 44);
В· Fairness of Market is ensured (Objective 45).
В· NSCG has the criminal prosecution authority;
В· Budget allocations to NSCG is increased;
В· Rules are in place that make the NSCG accountable to the President of Georgia;
В· The code of ethics for NSCG is in place;
В· The program to supervise SROs is in place;
В· Trades are conducted in a transparent manner/information is easily available;
В· Facts of unfair trading are detected and/or deterred.
PoG
NSCG
GSE
В· 6 months - 1 year
В· In consultation with the IOSCO. /Td>
В· Special training courses are conducted for the judges dealing with corporate disputes/protection of shareholders rights.
В· Georgian court system is improved (Objective 32);
В· Shareholders rights are enforced adequately (Objective 31);
В· Fairness of Market is ensured (Objective 45).
В· Judges have sufficient knowledge of corporate/securities laws;
В· Number of complaints against judges is reduced.
MoJ
NSCG
GSIA
В· 6 months
4.1.4 Joint Stock Companies not traded at Georgian Stock Exchange
В
Kazbegi JSC
Sector:
Consumer Goods
GSE Ticker:
KAZB
Summary Information:
В· Kazbegi JSC is the leading Georgian brewery and producer of non-alcoholic drinks, coffee, cigarettes, etc.;
В· Last year the company reported an impressive 75% increase in annual sales to GEL 9.4 mln., Although the sales figure fell somewhat behind the management's ambitious estimate of GEL 12 mln.;
В· Net profit of the company increased by 18% to GEL 1.4 mln., translating into EPS of GEL ...
