Technical Assistance for Government Debt & Infrastructure Finance - Georgia

OTA intends to provide assistance to NBG to achieve the following objectives: Progress toward NBG compliance with IOSCO Objectives and Principles of Securities Regulation and other international standards; Development of NBG supervisory functions (intermediaries, exchanges, depositories), including organization, workflows and procedures; Adoption of amendments to capital market laws, related laws and regulations; Fostering a capital market environment that ensures innovation, transparency, competition and efficiency; Development of independent tribunals, administrative process or specialized courts for handling disputes and actions arising from violations of securities law; Creation of a NBG market outreach/education function; Increased staff understanding of capital markets and investment products; Develop staff capacity and procedures for inspection and supervision of market participants; Develop staff capacity and procedures for investigation and prosecution of securities violations; including issuer disclosure and reporting violations, violations by market intermediaries, and other securities fraud and abuse; Identification of required technical infrastructure; and