Decision was refined
National Commission on Securities and Stock Market adopted a refined decision "On Approval of the Procedure on converting securities of collective investment institution" at a meeting of regulator, which took place on July 23, 2013. The press service of SSMNC informs about it.
«This regulatory act establishes requirements for procedure of converting securities of one collective investment institution (CII) in securities of other collective investment institution whose assets are managed by a same asset management company. Also, document sets out conditions for withdrawal from circulation and exchange of CII securities when converting and establishes a special procedure for converting in case of liquidation of collective investment institution or extension of the activity term of CII», - as Oksana Symonenko, Director of the Department of Joint Investment and Regulation of institutional investors’ activity of SSMNC, told on details of the document.
Oksana Symonenko added that in the revision framework of the regulatory act draft they suggest to make corrections of a technical nature, as well as some amendments in terms and categories that are used in this document to harmonize project standards with the norms of existing laws.
