By Elena Fehrbach
Representatives of the Securities and Future Commission of Hong Kong (SFCHK) visited Mongolia and signed the Memorandum of Understanding (MoU) with the Financial Regulatory Commission of Mongolia on mutual cooperation and information exchange. Hong Kong delegation was headed by Mr. Carlson Tong, Chairman of the Securities and Futures Commission and Mr. Mark Stuart, Head of Enforcement of the Commission.
The Memorandum covers such cooperation areas, as protection of investors’ rights in compliance with the concept of an efficient and transparent market, monitoring and enforcement of the proper operations of market participants, monitoring of securities trading and settlement, combating financial crimes and other areas.
During the trip, representatives of SFCHK has observed the MSE operations, current market conditions and development plans. In view of the new Securities Law which will come into force as of January 1, 2014, SFCHK can potentially be involved in a wide range of new development at MSE. The current plan includes the establishment of custody practice, among other developments. But the most important component of cooperation is the promotion of Mongolia as a country with friendly foreign investment environment and attraction of investors from Hong Kong.