The bell ceremony to launch trading of SENDLI NBFI JSC’S public offering bonds in the primary market took place on 25 January 2023. Those attending the ceremony included: Mr T. Tserenbadral (Vice-Chairman, FRC), Mr B. Dulguun (Director, Securities Market Department, FRC), Mr T. Khash-Erdene (Director, Business Development Department, Mongolian Stock Exchange LLC), Mr B. Naranbat (Chairman, SENDLI NBFI JSC, and Mr B. Ulziibayar (Executive Director, Olziy & Co Capital JSC).
Dear investors, professional participants, employees, and colleagues who have contributed to the development of the capital market, I would like to wish you a happy 32nd anniversary of the Stock Market in Mongolia.
Representatives of the FRC and Mongolian Stock Exchange JSC met with Erdenes Tavantolgoi JSC and Energy Resources LLC (parties organizing a trade - as sellers of coal - within the framework of open, transparent, and fair coal operations within e-trading). During the meeting, FRC provided directions for necessary measures and discussed methods and forms of trading.
Pursuant to Parliamentary approval of the Law on Mining Products Exchange, the Government was required to conduct online trading of coal on the Mongolian Stock Exchange (MSE). The Financial Regulatory Commission (FRC) of Mongolia will monitor the trading (auctions), until the law comes into force. In order to implement actions stipulated in Paragraph 3.2 of the Government’s Action Plan 2020-2024, the Regulation on Open Online Trading of Coal Export was approved by Government Resolution No.466.
The Corporate Governance Code was adopted originally by the FRC in 2007, and revised in 2022. In the revision the scope of the Code has been expanded, for its enforcement not only in public listed companies, but also insurers, NBFIs (trust service providers) and investment management companies. Companies are assumed the obligation to comply. Accordingly, 116 in the review and verification of reports on the implementation of the code of regulated entities, as of August of last year, the initial or condition assessment of code implementation was 55.3 percent. In response to the evaluation report, the FRC gave each company recommendations, direction, and time-bound tasks. According to the repeated evaluation last month, the implementation of the Code in the 3 regulated industries increased by 16.4 percent on average.