Who and How Can Obtain the Status of a Qualified Investor
The National Agency for Advanced Projects has approved the rules for handling foreign securities in the 'regulatory sandbox': access to them will be granted only to qualified investors.
The document establishes requirements for individuals and legal entities applying for this status, as well as the obligations of investment intermediaries. A qualified investor is considered a client who has confirmed their knowledge, experience, and capital and has agreed to accept the risks associated with investments.
For an individual, one of the conditions may be having funds, securities, or other financial instruments totaling no less than $5,000. The candidate must also pass a test on the securities market, financial instruments, risks, portfolio formation, and the basics of investment legislation. The intermediary independently determines the content of the assessment, passing criteria, and the procedure for a retake.
A client may be exempted from testing if they have experience in transactions over the previous year, a qualification certificate from the Uzbek securities market, an internationally recognized financial certificate accepted by the broker, a relevant higher education degree, or at least two years of work experience in transactions, investment recommendations, decision-making, or risk management in the stock market.
A company must simultaneously have net assets of no less than 1,500 BRV, an employee with a relevant higher education degree and at least two years of work experience in a financial organization, as well as a minimum of five transactions in the securities market over the previous year. Banks, insurance companies, investment funds, and other licensed financial organizations automatically receive the status.
The intermediary is obliged to document the procedure for recognizing a client as a qualified investor, disclose risks, and quarterly submit to the National Agency for Advanced Projects summary data on status approvals, refusals, and revocations. A decrease in the value of assets due to market fluctuations alone does not lead to its cancellation.
