Posted: 05.07.2022 15:56:00

Finance Ministry: adoption of draft law on securities to facilitate Belarus’ stock market development

The adoption of the draft law On Changing the Laws on Securities Issues will contribute to the development of the stock market in Belarus – as noted by Anatoly Sharshun, Director of the Securities Department at the Belarusian Finance Ministry

He noted that during the preparation of the changes, foreign experience was taken into account. The draft reflects the standards of the International Securities Commission; the Finance Ministry has been its member since 2021. Innovations will help prevent future beneficiaries – involved in criminal cases – from entering the market. Moreover, the signed roadmaps of the Union State were taken into account in terms of harmonising the regulation of the financial market.

“Today, in general, our law is similar in basic standards to the Russian one. We’re actively working with our colleagues, studying each other’s legislation in narrow areas and finding mutual understanding across many spheres. It will be necessary to come to a consensus on certain points and, possibly, in the medium term, in two or three years, to change certain provisions. The programme for the implementation of the roadmaps envisages a certain phasing of actions, so everything is in order. We expect that the adoption of amendments to the draft law on securities will contribute to the development of the stock market in Belarus and the country’s economy as a whole,” Anatoly Sharshun summed up.