This draft law has already been submitted for public discussion.
Among the changes provided for in the document is the transfer of certification functions of professional market participants to a self-regulatory organization, with all procedures being mandatory coordinated with the state regulator.
The draft law also introduces the possibility of paying dividends from undistributed profits of previous years, but prior approval will be required from the authorized body that regulates the securities market.
Another important aspect of the changes concerns the mortgage securities market. The Ministry proposes to introduce the concept of a digital register of mortgage coverage, as well as to transition to electronic forms of reporting and information disclosure. In addition, it is planned to expand the powers of the Cabinet of Ministers in establishing the procedure for maintaining registers and the activities of depositories.
As stated in the justification for the draft law, its goal is to reduce bureaucracy, digitization, and decrease the administrative burden on participants in the stock market, as well as to improve the investment climate in the country.
