The Bank of Russia and the Republic of Serbia Securities Commission concluded the Memorandum of Understanding setting out a communication procedure between the securities and derivatives market authorities of the Russian Federation and the Republic of Serbia in order to establish effective long-term cooperation and information exchange.
Key areas of mutual assistance envisaged in the MOU are supervision and monitoring of compliance with applicable legislation relating to the securities and derivatives markets, combating money laundering and terrorism financing, combating unlawful use of insider information and market manipulation, etc.
The MOU also stipulates information exchange in respect of financial groups consolidated supervision, material changes or developments in the Russian Federation and the Republic of Serbia financial market regulatory and supervisory regimes, and risks arising in the markets.
Both authorities are signatories to the Multilateral Memorandum of Understanding of the International Organization of Securities Commissions (IOSCO MMOU). The bilateral Memorandum supplements the provisions of the IOSCO MMOU, as it provides an opportunity to exchange information on a wider range of entities and unlimited range of securities and derivatives market regulatory and supervisory issues.
The MOU has been in effect from 11 July 2018.