GSS Newsletter April 2016 - Issue 180

Dear Clients, Partners and Friends,

Simplifying business procedures in traditionally bureaucratic environments is a clear sign of maturing markets. This indicates strong regulatory development - an area we specialise in, both through our on-site lobbying efforts and through our immediate reporting.

Official bodies such as central banks and depositories often take the lead in pushing things forward especially in the interest of (foreign) investors. It is refreshing to see how they translate their market proximity into well-wrought action.

In this month’s issue alone we present three examples of red tape cutting, two from Russia and one from Kazakhstan, all of which aim at diminishing hurdles from daily processes. We are looking forward to seeing more action down the road!

Susanna Scheffold
Global Head of Securities Services

Highlights

Investment incentives
The Budapest Stock Exchange presented its strategic plan for the upcoming five years. By Beáta Szőnyi, Senior Relationship Manager, GSS Hungary
› Read more

Eager for reform
Ukraine has undertaken first steps in joining IOSCO’s Multilateral Memorandum of Understanding. By Katherine Yevtushenko, Relationship Manager, GSS Ukraine
› Read more

Almost done
Implementation of AIFMD and UCITS V in Poland is almost complete. By Mariusz Piękoś, Director Foreign Clients Office, GSS Poland
› Read more

Easing the terms
The disclosure process for foreign investors in Russia will be facilitated. By Yuliya Shibukova, Relationship Manager, GSS Russia
› Read more

Under ward
Residents of tax havens are subject to disclosure requirements in Bulgaria. By Kristina Spasova, Relationship Manager, GSS Bulgaria                     
› Read more

Market news

› Czech Republic
The CNB faces the dilemma of penalising its banking systems by imposing a negative deposit rate

 

› Russia
The Moscow Stock Exchange launched a new type of security named Clearing Participation Certificate on the MOEX Equity & Bond Market and Money Market

 

› Slovenia
The European Commission’s Country Report assesses Slovenia’s economy and acknowledges the progress made so far

 

› CEE
The process of distribution of income from securities in Kazakhstan is about to speed up

 

› Russia
Cross–currency cash transfers at the Russian NSD have been made more reliable thanks to a new conversion service

 

› Russia
The long-term ratings for the Russian NCC remain unchanged according to Fitch Ratings

 

Market statistics

› Austria        › Bosnia and Herzegovina        › Bulgaria        › Croatia        › Czech Republic        › Hungary        ›         › Romania        › Serbia        › Slovakia        › Slovenia        ›