At the regular meeting, the FRC registered the securities to be offered to the public by "Bogd Bank" LLC and allowed to trade them to the public. Accordingly, the opening bell ceremony of company's primary market trading was held on 1st December, 2021. Mr G. Amartuvshin (Member of Parliament), Mr D. Bayarsaikhan (Chairman of the Financial Regulatory Commission), Mr B. Lkhagvasuren (Governor of the Bank of Mongolia), Mr Kh. Altai (Executive Director of the Mongolian Stock Exchange), Mr G.Saruul (Executive Director of Bogd Bank LLC) and other officials attended the ceremony.

Securities of the Central Express CVS LLC (holding CU brand master franchise) to be offered to the public were registered, and the public offering was approved at the regular meeting of the Financial Regulatory Commission. Accordingly, the opening ceremony of launching the company’s primary market trading was held on 29 October 2021. In the ceremony, L.Enkhtaivan (Non-Permanent Commissioner, FRC), B.Dulguun (Director, Securities Market Department, FRC), Kh. Altai (Executive Director, Mongolian Stock Exchange), G.Chinzorig (CEO, Central Express CVS LLC), and other related officials attended.

The Financial Regulatory Commission (FRC) provides quarterly market data to financial market participants, researchers, scholars, and market clients. On this occasion, we present an overview of the financial market for the third quarter of the current year.

In June of this year, the Financial Regulatory Commission (FRC) approved the Regulation on Bond Registration, which came into force in September. Mobifinance NBFI LLC requested registration of the initial public offering (IPO) under the Regulation, and the Commission registered the company's bond worth MNT 1 billion. The company's primary market bond will be sold to investors in an innovative, way via the MONPAY application. This is the first-time electronic securities have been traded since the National Payment System Law was enacted in 2017. In order to implement the procedure successfully, a request to join the sandbox was submitted to the Commission.

The Financial Regulatory Commission (FRC) continues to expand its cooperation with public and private organizations; increasing economic growth and development to create an inclusive and multi-pillared financial market. Within this context, D. Bayarsaikhan (Chairman, FRC) spoke about the gradual development of the financial and capital markets, and cooperation in creating a favorable business environment within the framework of public-private partnership.

The Financial Action Task Force (FATF) has published - on its website - a revised manual of Risk-Based Methods for Virtual Assets and Virtual Asset Providers. The Manual outlines how virtual asset service providers can implement risk-based approaches in their efforts related to anti-money laundering and combatting the financing of terrorism (AML/CFT). The Manual also describes how to comply with FATF recommendations and standards. It also includes amendments to relevant legislation, and the development and implementation of risk-based regulatory and supervisory systems for AML/CFT. More particularly, the Manual identifies issues in six areas, namely:

The Financial Regulatory Commission (FRC) continues to expand its cooperation with public and private entities; to create an inclusive and multi-pillar financial market, and increase economic growth and development. In this context, the Commission 21 October 2021  signed a memorandum of understanding (MoU) with the University of Finance and Economics, Mongolia. The MoU was signed by D. Bayarsaikhan (Chairman, FRC) and B. Munkhbayar (Rector, Institute of Finance and Economics, University of Finance and Economics). Both sides agreed to cooperate on collaborative research and analysis, as well as on the implementation of international and domestic projects and consulting services required for sector investment.

On 28 October 2021, the Financial Regulatory Commission (FRC) released its financial report for the third quarter of the year. As of then, the financial sector regulated the FRC had reached 22.1% of GDP. Of this, the value of the stock market was 13.4%, the insurance market 1.2%, non-banking financial institutions 6.7%, and savings and credit cooperatives sector was 0.8%.

Virtual assets are not secured by cash (unlike shares and securities) and are not covered by the Securities Market Law, the Company Law, and the National Payment System Law. Virtual assets also lack the characteristics of a payment instrument – are therefore not licensed by the Bank of Mongolia (BoM) - and cannot be guaranteed in the form of company assets or shares. Therefore, the BoM and the FRC have officially stated that the government will not be responsible for any risks and losses (associated with virtual assets) that may occur in the future.

A regular meeting of the Financial Regulatory Commission was held on 13 October 2021.