On July 17, the Federation Council approved the ratification of the agreement with Belarus on the mutual recognition of securities prospectuses registered in the territory of one of the two countries for their subsequent placement in the other. This means that issuers will not have to re-register the securities prospectus in the host country, writes Vedomosti.
Subscribe to RB.RU on Telegram
Belarusian issuers now have to re-register their issuance documentation in Russia, which means additional financial and time costs, explains Violetta Lyudchik, a lawyer at GRATA International Belarus.
And when entering the Belarusian stock exchanges, Russians must do the same, as well as involve a broker in drawing up the prospectus and carrying out KYC procedures.
Now the procedure will be much simpler: to recognize the company’s prospectus, it is necessary to send a package of documents to the Central Bank of the Russian Federation, and it must make a decision within 20 working days. Previously, preparation took up to six months and was not always accepted on the first attempt.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
Join our expert trading community and receive premium signals directly to your inbox. Maximize your profits with every trade!
