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DECISION OF BOARD OF THE EURASIAN ECONOMIC COMMISSION

of November 10, 2015 №144

About Regulations on the Advisory committee on the financial markets

According to Items 7 and 44of the Regulations on the Eurasian economic commission (appendix №1 to the Agreement on the Eurasian Economic Union of May 29, 2014) the Board of the Eurasian economic commission decided:

1. Approve the enclosed Regulations on the Advisory committee on the financial markets.

2. Declare invalid the paragraph of the second of Item 2 of the Decision of Board of the Eurasian economic commission of October 25, 2012 №199 "About the Advisory committee on the financial markets".

3. This Decision shall enter into force upon the expiry of 30 calendar days from the date of its official publication.

Approved by the Decision of Board of the Eurasian economic commission of November 10, 2015 №144

Regulations on the Advisory committee on the financial markets

I. General provisions

1. The advisory committee on the financial markets (further - Committee) is created under Board of the Eurasian economic commission (further respectively - Board, the Commission) according to Items 7 and 44of the Regulations on the Eurasian economic commission (appendix №1 to the Agreement on the Eurasian Economic Union of May 29, 2014). The committee is consultative body of the Commission which main activity are questions of regulation of the financial markets of state members of the Eurasian Economic Union (further respectively - state members, the Union), currency control and currency exchange control according to articles 64 and 70of the Agreement on the Eurasian Economic Union of May 29, 2014.

2. The committee in the activities is guided by the Agreement on the Eurasian Economic Union of May 29, 2014, other international treaties and acts constituting the right of the Union, the Regulations of work of the Eurasian economic commission approved by the Decision of the Supreme Eurasian economic council of December 23, 2014 № 98, and also this Provision.

II. Main objectives and functions of Committee

3. The main objectives of Committee are:

a) preparation of recommendations for the Commission on the following questions: harmonization of the legislation of state members in the field of the financial markets (in bank, insurance sectors and in service sector in the security market); rapprochement of the legislation of state members regulating currency legal relationship, and liberalization taking measures;

b) carrying out consultations with representatives of state members concerning regulation in spheres of the financial markets, currency control and currency exchange control;

c) development of offers for the Commission on the following questions: creation of conditions for expansion of mutual trade in financial services and forming in the long term total financial market of state members; creating favorable conditions for investment of means in the territories of state members.

4. For realization of the tasks assigned to it the Committee performs the following functions:

a) participates in carrying out the analysis of the international treaties and acts constituting the right of the Union, and also the legislation of state members in spheres of the financial markets, currency control and currency exchange control;

b) develops the approved approaches on the following questions:

harmonization of the legislation of state members in the field of the financial markets (in bank, insurance sectors and in service sector in the security market); rapprochement of the legislation of state members regulating currency legal relationship, and liberalization taking measures; elimination and minimization of barriers and other restrictions of access to the financial markets of state members; project development of the international treaties and acts constituting the right of the Union in spheres of the financial markets, currency control and currency exchange control; the problem resolution, the state members revealed on analysis results of application of the legislation in spheres of the financial markets, currency control and currency exchange control; information exchange between the Commission and bodies of state members authorized on implementation of regulation in the field of the financial markets (further - authorized bodies); carrying out monitoring and control of execution by state members of provisions of the international treaties and acts constituting the right of the Union in spheres of the financial markets, currency control and currency exchange control;

c) prepares offers for the Commission according to the plan of research works for the next year in spheres of the financial markets, currency control and currency exchange control;

d) prepares offers for the Commission on other questions in spheres of regulation of the financial markets, currency control and currency exchange control;

e) performs other functions.

III. Structure of Committee

5. The structure of Committee is created of heads (deputy managers) and representatives of authorized bodies. For forming of structure of Committee the Board requests from authorized bodies of the offer on candidates for representatives of these bodies. According to the offer of state members of Committee representatives of business community, scientific and public organizations, other independent experts can be included. Authorized bodies timely inform Board on need of replacement of representatives of authorized bodies for Committee, and also represent offers on modification of its structure. The structure of Committee affirms the order of Board.

6. Presides over committee meetings and the member of Board within whose competence questions in spheres of the financial markets and monetarist policies are (further - the chairman of Committee) performs the common directorship of work of Committee.

7. Chairman of Committee:

a) directs activities of Committee and will organize work on accomplishment of the tasks assigned to Committee;

b) approves and approves the agenda of committee meeting, determines date, time and the place of its carrying out;

c) conducts committee meetings;

d) approves protocols of committee meetings;

e) informs Board and Council of the Commission on the recommendations developed by Committee;

e) approves regulations on the working (expert) groups created under Committee and their structures;

g) represents Committee at meetings of Board and Council of the Commission and in relations with other bodies and the organizations;

h) appoints the vice-chairman of Committee;

i) performs other functions within competence of Committee.

8. The head of department of the Commission whose competence questions on activities of Committee enter is appointed the vice-chairman of Committee.

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