Law on Unified Financial Regulation and Supervision Framework
(enacted in 2005)
The Law on Unified Financial Regulation and Supervision Framework includes measures to transfer the function of regulation and supervision over other participants in the Armenian financial market to the Central Bank of Armenia. Other participants are defined as: securities market participants, investment companies, investment funds, cumulative pension insurance providers, insurance companies, and pawnshops, which carry out specialized activities.
This brief law provides for:
- The transfer of regulatory and supervisory authority to the Central Bank of Armenia;
- Liquidation of the securities commission and delegation of authority to the Central Bank of Armenia; and
- The force of sub-legislative acts.