On June 7, 2012 a conference on «Regulatory and Legal Aspects and Problematic Issues of Depository Activities» was held in Minsk

PRESS RELEASE

June 8, 2012

On June 7, 2012 a conference on "Regulatory and Legal Aspects and Problematic Issues of Depository Activities" was held in Minsk

On June 7, 2012 in Minsk the Republican Unitary Enterprise "Republican Central Securities Depository" hosted a conference on "Regulatory and Legal Aspects and Problematic Issues of Depository Activities"

The conference was attended by representatives of the Securities Department of the Ministry of Finance of the Republic of Belarus, the Securities Divisions of the regional and Minsk Head Departments of the Ministry of Finance of the Republic of Belarus, heads and specialists from the depositories and OJSC "Belarusian Currency and Stock Exchange."

The Director of the Securities Department of the Ministry of Finance of the Republic of Belarus Sergei Sushko made an opening speech. He outlined the main prospects for the development of the securities market, drew attention to the need of ensuring compliance with financial sufficiency applied to professional securities market participants.

Within the framework of the conference the following questions were discussed: the current issues on the practical application of changes to legislation governing depository activities, the problematic issues of custody and interaction of the depositories and the stock exchange.

Key themes of the conference were:

·      regulation and development of the depository system of the Republic of Belarus;

·      problematic issues of interaction between the depositories and the stock exchange as a clearing organization;

·      extension of the scope of electronic document circulation with the usage of the Format of electronic messages in the securities market.

Reports and presentations were made by the representatives of the Securities Department of the Ministry of Finance of the Republic of Belarus, the OJSC "Belarusian Currency and Stock Exchange", RUE "The Republican Central Securities Depository".

During the open discussion of problematic issues, it was agreed to prepare a formal request to the Securities Department of the Ministry of Finance of the Republic of Belarus by the host of the conference in order to obtain clarification on the outstanding issues of depository activities.