The main change refers to the clearing and settlement of financial instruments issued by the Republic of Serbia. In addition to the local CSD, these activities may be performed by foreign legal entities who also carry out clearing and settlement activities engaged in accordance with the Law on Public Debt and the Act of the Central Securities Depository and Clearing House.
The essence of the amendments and supplements to the Law on Capital Markets is further harmonization with the Law on Public Debt, enabling wider availability and attractiveness of domestic securities to foreign investors, by reducing financing costs and ensuring better diversification of investing opportunities in domestic securities.
Changes to the Law become effective as of 12 February 2020.
Impact on Investors: Domestic securities will become more widely available and more diverse for investors.