The NSC has approved the draft decision “On Amending Certain Normative-Legal Acts of the National Securities and Stock Market Commission (on the Registration Procedures of Institutes of Joint Investments).”

In particular, it is planned to amend the Regulations on the procedure for registration of the issue prospectus and issue of shares of the CIF (Commission Decision No. 1104 of June 20, 2013), Regulations on the procedure for registration of the prospectus of issue and issue of investment certificates of the mutual investment fund (Commission Decision No. 1103 of June 20, 2013) on the registration of the regulations of the СII and the maintenance of the Unified State Register of the СII (Commission Decision No. 1047 of June 18, 2013).

The draft regulatory act provides the opportunity for the Commission to monitor compliance with the provisions of Article 4 of the Law on Joint Investment Institutions regarding the relationship between the custodian, the auditor (the audit firm), the property appraiser with whom the contracts for ISI services were concluded, as well as the impossibility of participation in СII of legal entities, the share of state or municipal property in which exceeds 25 percent.

The draft revised the lists of documents that are submitted to the Commission for compliance with the requirements of the above Regulations. More details on the project draft decision of the Commission can be found .

A source: National Securities and Stock Market Commission.

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