Becoming a Member

Participants / Becaming a Member

ALREG handle carefully all requests and applications for membership in ALREG by responding to these requests within one month from the receipt of the application.

The application of the ALREG Member for Membership is accepted or rejected by ALREG. ALREG may approve or reject a request in accordance with ALREG rules. ALREG may deny the admission of a Member only when fullfilled by writing and based on a comprehensive evaluation of the applicant.

Application for Membership

Request – Application for ALREG membership will include:

  1. Applicant details: registered name, registered office and business address, company registration number at the National Business Center (or its equivalent in the case of companies with headquarters outside the Republic of Albania) and any other registration related to tax registers.
  2. Applicant legal status data: statement, if the applicant has the status of a brokerage company, bank or other type of company,
  3. In the case of a licensed brokerage firm or a bank, the data of the number and date of issuance of this license and the supervisory authority issuing the license,
  4. Data of the contacting person for the applicant: name and surname, description of the tasks or functions performed by this person for the applicant, telephone number, e-mail address and fax number,
  5. Type of ALREG membership required by the applicant.

Documents attached to the Application for Membership

The following documents are attached to the application for membership:

1. Copy of the company’s statute or accopanying acts and a copy of the company’s extract issued by the National Business Center QKB (or its equivalent in cases of companies based outside the Republic of Albania), with visible shareholder structure;
2. A copy of the company’s license (license which relates to the exercise of the Brokerage activity as may be the case) or licenses to carry out other activities related to the trading of securities, if such licenses are required by special regulations (as may be the case of Banks),
3. Signatures of authorized representatives of the applicant,
4. An information card containing the addresses for shipments, as well as a list of staff employed in positions related to securities, telephone numbers / fax as well as email addresses;
5. In case of membership in ALREG for clearing and settlement – a statement indicating the number or bank account numbers held by the Settlement Bank (Bank of Albania) and which will be used to process payments in the process of clearing and settlement according to these rules.

In addition to the documents mentioned above, the following documentation will be attached to the ALREG membership application that demonstrates the fulfillment of the ALREG membership standards:

1. Approved financial statements and the latest financial report;
2. Description of the activities of the company and the parent company (if any), their General Director and the back-office structure;
3. In case of membership as non-bank in ALREG – should be the agreement with the agent bank (also ALREG memeber) to proccess the cash settlement services.

Prior to the commencement of activities, the ALREG Member will enter into a  ALREG membership agreement and provide evidence to ALREG that they have installed the necessary technical equipment appropriate to the respective type of membership and according to the ALREG technical requirements and have the required standards according to the provisions set out in Operational Regulation ALREG.