Adopted new Regulations By the Republic of Serbia Securities Commission (Update of the new Law on Capital Market)

Regarding the Law on Capital Market (“Off. Harold of RS” no. 129 dated December 28 2021) (hereinafter “The Law”) which will enter into force at the beginning of 2023, the Republic of Serbia Securities Commission (hereinafter: “The Commission”) adopted new Regulations.

At sessions of the Commission, held on June 30 and July 5, 2022, the Regulations were adopted and published in the “Off. Harold of RS” no. 77 and shall be applicable upon coming into force of the Law i.e. January 6 2023.

These Regulations were passed in the form of Rulebooks and prescribe rights, obligations and procedures, among other, of the following matters such as:

  • Publishing a list of insider information as well as technical means of their publishing;
  • Obligation of the Issuer to compile a list of persons (e.g. Employers) who have access to insider information and regularly update that list and submit it to the Commission at its request;
  • The content and form of the request for approval of the prospectus (related to the public Joint Stock Company as an Issuer), registration document and summary prospectus all more closely regulated;
  • Notifications to be made by the Issuer (public Joint Stock Company);
  • Governing the procedure when issuing a license for carrying out the activities of investment companies;
  • Deliberating on the fine, the term and method of payment by the Commission, etc.

All in all, the total number of the Regulations that were adopted is twenty, all with the clear goal of better implementation of the Law, in the near future.

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