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EEC develops cooperation with International Organization of Securities Commissions and World Federation of Exchanges

EEC develops cooperation with International Organization of Securities Commissions and World Federation of Exchanges

Директор ДФП Хачатрян АГ  12 12 2019.jpg
12/13/2019

The Eurasian Economic Commission (EEC) intends to cooperate with the International Organization of Securities Commissions (IOSCO) and the World Federation of Exchanges (WFE) for developing effective tools of state legal regulation and supervision. This was reported by Arman Khachatryan, Director of Financial Policy Department of the Eurasian Economic Commission (EEC) following the meeting of the IOSCO Affiliate Members Consultative Committee and a workshop for regulators in the sphere of legal regulation of national securities markets held in Madrid (Spain).

Arman Khachatryan, Paul Andrews, the IOSCO Secretary General, and Nandini Sukumar, the WFE President, held meetings as part of the events.

The importance of developing cooperation and exchange of experience between the EEC and the IOSCO was noted within the context of forming the EAEU common financial market. "We have agreed on closer cooperation in order to develop effective tools of state legal regulation and supervision as well as mechanisms of responsibility and law enforcement in transboundary operations", - Arman Khachatryan emphasized.

He also noted that, under circumstances where financial services were becoming an open network of multi-channel distribution of products and innovations, it was required to use new digital technologies for supervision as well as implement the best practices for creating indivisible securities markets and protecting investors.

During the meeting held between Arman Khachatryan and Nandini Sukumar, the sides discussed the development of cooperation and exchange of experience between public markets of the EAEU States and the World Federation of Exchanges as a global industry association of organizers of trading in securities and derivatives. Moreover, the sides touched upon the issues of legal regulation of securities trading, the introduction of financial technologies in the stock-exchange industry as well as regulatory control and supervisory policy.​