The Central Bank of the Republic of Azerbaijan has approved an Instruction on organising underwriting carried out by investment companies, setting methodological foundations for underwriting securities placed through public offerings and for related internal rules. The Instruction is designed to support comprehensive disclosure to potential investors on an issuer’s financial position, corporate governance, risks and risk management. It also structures underwriting activity into four main stages and defines methodological approaches for each stage, drawing on international practice while taking account of domestic legal requirements, including internal rules prepared under subparagraph 17.2.9 of the rule governing the provision of investment services by investment companies and banks.
Central Bank of the Republic of Azerbaijan2026-04-01
Central Bank of the Republic of Azerbaijan approves instruction for underwriting organised by investment companies
The Central Bank of the Republic of Azerbaijan has approved an Instruction on organising underwriting by investment companies, setting methodological foundations for underwriting securities placed through public offerings and related internal rules. The Instruction aims to ensure comprehensive disclosure to potential investors on issuers’ financial position, corporate governance, risks and risk management, and structures underwriting into four stages with approaches aligned to international practice and domestic legal requirements.