Following issues have been discussed and resolved on the regular session of the FRC on November 02, 2011:

One. Insurance related:

• Approved “Regulation on licensing driver’s liability compulsory insurance operation”.

Two. Microfinance related:

• Granted license to conduct non-bank financial activity to “Khutagt gerege” LLC, “Mongolian mortgage fund” LLC, and granted license to conduct savings and credit cooperative activity to “Ireeduin zorilt” cooperative respectively.
• Suspended the rights to conduct non-bank financial activity from “Ikh tunshlel NBFI” LLC and “GCIP NBFI” LLC respectively, revoked the license of “Ikh jas NBFI” LLC from conducting non-bank financial activity.
• Extended the license of “Khas bayajih” and “Ongiin harz” cooperative for conducting savings and credit cooperatives activity respectively.
• Suspended the license of “Tonkhil khugjil” cooperative from conducting savings and credit cooperatives activity, and revoked the license to conduct savings and credit cooperative activity from “Lkhabuyan” cooperative.

Three. Securities related:

• Appointed O.Bayaraa as the Executive Director of “Granddevelopment” LLC and B.Bolormaa as the Executive Director of “Financelink group” LLC respectively.
• Granted license to “Golomt securities” LLC for conducting investment activity and other services on behalf of the costumers upon their request.
• Granted licenses to 84 citizens, who passed the professional licensing examination to engage in securities market, to conduct securities intermediary activities.

ADMINISTRATION DEPARTMENT