The power to regulate the securities and insurance markets in Belarus moves to the NBRB. By Ekaterina Konovalova, Relationship Manager, GSS Russia
It is planned that a single mega-regulator will be established through the National Bank of Republic of Belarus (NBRB). The respective securities market law will come into effect on 1 January 2016.
The new law, which can be regarded as a further step towards the development of the financial market, obliges companies to disclose information on the results of their financial and economic activity in the form of quarterly and annual financial statements in a single information source of the securities market, in the media or the company's website.
Moreover, the law also regulates the information disclosure mechanism in the case that a controlling stake is purchased and obligates the disclosure of insider and sensitive information.