The implementation of the Concept of Formation of the General Financial Market of the Eurasian Economic Union was considered members of the Financial Markets Advisory Committee. The meeting was held in video conferencing in the headquarters of the Eurasian Economic Commission in Moscow, chaired by the Director of the Financial Policy Department of ECE Arman Khachatryan.
According to the press service of the ECE, the members of the Advisory Committee approved the work plan for the implementation of the provisions of the concept of the general financial market of the EAEU.
The meeting participants reviewed the draft agreement on mutual admission to the placement and applying of securities at organized trading in the countries of the Eurasian Economic Union and discussed issues of investment meaning issuers.
"The agreement is aimed at harmonizing the procedures, ensuring the mutual admission of securities from the list, assigned by the Exchange to the quoted list of the highest category, to organized trading in other countries of the Union, the freedom of placement and appeal of emission securities and trade operations on the total EAEEC exchange space," said Arman Khachatryan.
According to the Director of the ECE Financial Policy Department, the mutual admission of securities will be provided with the simultaneous implementation of the following conditions: if registration of securities is registered in the State of the Union in the manner prescribed by its legislation, and the issuer's securities release is included in the quotation list of the highest category on the Stock Exchange .
Thus, the issuers of the Union countries are provided with opportunities to expand the geography of attracting financial resources and get wide access to investment resources.
In accordance with the agreement on the Eurasian Economic Union, the Union's state should create a supernatal authority for regulating the Financial Market of the EAEU.
The Agency of the Republic of Kazakhstan for the Regulation and Development of the Financial Market has developed a draft Agreement on the Superior Authority for the Regulation of the EAEU Financial Market. The document was prepared in accordance with the approaches to implement the concept of the formation of the general financial market of the EAEU, coordinated by the Consulting Council for the Monetary Policy of the Central (National) banks of the EAEU states. The main objectives of the supranational authority are: deepening the economic integration of the States of the Union in order to develop a common financial market, ensuring non-discriminatory access to the financial markets of Member States and its effective operation.
To ensure the mutual access of the participants of the financial markets on the financial markets of the EAEU states by the Central Bank of the Russian Federation, together with the financial regulators of the Union's states, a draft agreement on standardized license has been developed. The standardized license mechanism for a legal entity in the banking and insurance sector will allow you to identify agreed approaches to mutual recognition of licenses.
The members of the Advisory Committee also considered questions about the organization and creation of an electronic channel for the implementation of financial products (the market "Markeples"), on the rules for the implementation of general processes in the field of financial markets, on the progress of work on the draft technical assignment to study the optimal approaches to harmonize the requirements for issues of issues of valuable issues Papers and other questions. The meeting participants were presented with information on the progress of improving the share of national currencies in mutual calculations and possible measures of currency control liberalization in the implementation of mutual trade in the EAEU.