News
Meeting of Advisory Committee for Financial Markets discussed issues of ensuring free movement of capital
A set of agreements and proposals on forming legal framework of the Eurasian Economic Union and ensuring free movement of capital was discussed by members of the Advisory Committee for Financial Markets. The meeting chaired by Bakytzhan Sagintaev, EEC Minister in charge of Economy and Financial Policy, was held on September 15 at the Eurasian Economic Commission’s headquarters in Moscow.
The meeting attendees considered the progress of work on the draft Standardized License Agreement within the EAEU.
"The Agreement’s core objective is to ensure mutual recognition of a standardized license for activities in the banking and insurance service sectors, enabling to establish or acquire legal entities in the host State's territory according to the simplified procedure," Bakytzhan Sagintaev stressed.
The Advisory Committee’s members discussed the draft Agreement on admitting brokers and dealers of one EAEU Member State to participate in on-exchange trading (trading of market operators) of other Union countries, as well as results of extended expert consultations involving representatives of authorized bodies, Ministries of Justice, Ministries of Foreign Affairs and financial control bodies.
"The Agreement grants the right to national exchanges to recognize licenses of brokers and dealers issued by the Union States’ authorized bodies and to provide them with the possibility to directly participate in stock trading on equal terms," Bakytzhan Sagintaev noted.
The meeting considered the progress of work on the Action Plan for harmonizing the EAEU countries’ legislation in the financial market, as well as some issues of developing national payment systems, and regulation in combating money laundering and financing of terrorism.
