RESOLUTION OF THE MINISTRY OF FINANCE OF THE REPUBLIC OF BELARUS

of November 11, 2009 No. 139

About establishment of financial requirements to professional participants of the security market and qualification requirements to their heads and employees

Based on Item 1 of article 17 of the Law of the Republic of Belarus of March 12, 1992 "About securities and stock exchanges", Item 10 of the Regulations on the Ministry of Finance of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of October 31, 2001 No. 1585 "Questions of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus DECIDES:

1. Establish the following financial requirements to license applicants and licensees on implementation of professional and exchange activity on securities:

1.1. observance of requirements of financial sufficiency regarding the minimum size of equity (net assets).

The minimum size of equity (net assets) is established in the amount equivalent:

dealer activities - to 3 thousand basic sizes;

broker activities - to 3 thousand basic sizes;

depository activity - to 30 thousand basic sizes (for the republican unitary enterprise "Republican Central Securities Depository" - to 10 thousand basic sizes);

activities for trust management of securities - to 50 thousand basic sizes;

activities for the organization of the securities trading - to 200 thousand basic sizes;

clearing activities - to 200 thousand basic sizes.

The minimum sizes of equity (net assets) specified in part two of this subitem are determined monthly proceeding from the size of basic size established according to the legislation.

When implementing by the licensee of several work types and services constituting professional and exchange activity on securities, the minimum size of equity (net assets) shall correspond to the greatest sum determined in part two of this subitem for one of the work types and services specified in special permission (license);

1.2. ensuring accomplishment of obligations to creditors and on payments in the budget at the scheduled time;

1.3. borrowed funds shall not exceed the size of equity (net assets);

1.4. the condition of solvency shall correspond to the following values:

the coefficient of current liquidity - is at least 1,5;

coefficient of security own turnover to the sredstvamena of less 0,2;

coefficient of security of financial liabilities with assets - no more 0,85.

2. Establish the following qualification requirements to heads and employees of professional participants of the security market (further - the professional participant) and stock exchanges:

2.1. the head of the professional participant (except the head of bank), the head of stock exchange and his deputy controlling activities for the organization of the securities trading, heads of the structural divisions of bank performing professional and exchange activity on securities shall have the competence certificate of the first category.

For the purposes of this subitem the structural division of bank performing professional and exchange activity on securities is understood as its structural division (department, the management, department and so forth) headed by the head subordinated directly to the head of bank (his deputies), performing one or several work types and the services constituting professional and exchange activity on securities or part of which the structural division which is carrying out these works and services is;

2.2. the head of separate division (branch) of the professional participant, the stock exchange (for branch the bankarukovoditel and (or) his deputy controlling activities of bank branch in the security market) performing one or several work types and the services constituting professional and exchange activity on securities shall have the competence certificate second or first of category. Work types and the services constituting professional and exchange activity on securities in the competence certificate of the second category shall correspond specified in the copy of special permission (license) which is in this separate division (branch);

2.3. specialists of the professional participant, stock exchange, their separate divisions (branches) which directly perform works and services constituting professional and exchange activity on securities with right to sign on documents shall have the competence certificate of the second category granting the right to accomplishment of these works and services, or the competence certificate of the first category.

The specialists specified in part one of this subitem which render consulting services in securities shall have the competence certificate of the first category;

2.4. the specialists of separate divisions (branches) of bank performing works on issue of securities of bank, their address and repayment, and also the works connected with implementation of professional and exchange activity on securities without right to sign on documents shall have the competence certificate of the third category.

3. Determine that:

3.1. receipt of the competence certificate is not required:

to heads of banks and their deputies;

to representatives of the professional participant who is the trustee for participation in work of general shareholder meetings;

to the employees of banks performing settlement and (or) cash customer service;

to other employees of professional participants and stock exchanges, their separate divisions (branches) as which carrying out transactions with securities does not enter;

3.2. in case of change of the head of the professional participant or stock exchange, the head of separate division (branch) of the professional participant or stock exchange the new head shall be certified (in case of absence at it the competence certificate) within one month from the date of assumption of office;

3.3. employees of the professional participant, including his heads and officials, cannot be at the same time employees, including heads and officials, members of the supervisory board (board of directors) of other professional participant or employees, including heads and officials, the issuer of shares.

4. Recognize invalid:

the resolution of Committee on securities under Council of Ministers of the Republic of Belarus of April 26, 2005 No. 05/P "About establishment of requirements of financial sufficiency to professional participants of the security market and qualification requirements to their heads and employees" (The national register of legal acts of the Republic of Belarus, 2005, No. 104, 8/12757);

the resolution of Committee on securities under Council of Ministers of the Republic of Belarus of February 6, 2006 No. 01/I "About modification and amendments in the resolution of Committee on securities under Council of Ministers of the Republic of Belarus of April 26, 2005 No. 05/P" (The national register of legal acts of the Republic of Belarus, 2006, No. 36, 8/14033);

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