New edition of the BCSE Listing Rules approved
New edition of the BCSE Listing Rules approved

GENERAL NOTIFICATION

A NEW EDITION OF THE BCSE LISTING RULES HAS BEEN APPROVED


The BCSE informs that a new version of the BCSE Listing Rules was developed, coordinated with the Securities Department of the Ministry of Finance of the Republic of Belarus and approved by the BCSE Supervisory Board (minutes No. 23 as of 11.09.2017). It stipulates the following:

 
1. updating the terminology used, as well as references to normative legal acts in accordance with the Law of the Republic of Belarus of No. 231-З as of 05.01.2015 "On the Securities Market" (hereinafter - the Law on the Securities Market);

2. changing the structure of quotation lists on the BCSE in order to bring it closer to international standards;

3. establishing additional requirements for corporate governance of issuers for the first and second level quotation lists;
 

4. introducing a special admission level (quotation list of the third level) for placement and circulation of securities (shares and bonds) of small and medium-sized enterprises on the exchange market. The basic admission requirements for this quotation list are as follows: the average number of employees is not more than 250 people, the mandatory presence of a market maker and financial adviser, a simplified package of documents for admission, special fees and charges conditions;

5. providing issuers of securities and members of exchange sections with electronic documents and reporting without paper duplication;

6. improving  the frequency and number of documents and reports submitted by issuers of securities subject to admission to trading and maintaining securities therein;

7. expanding the range of sources for obtaining exchange information on securities and issuers, including a single information resource of the securities market, the official website of the Republican Unitary Enterprise Republican Central Securities Depository;

8. improving disclosure procedures by the BCSE in accordance with the Securities Market Law;

9. the BCSE`s right to disclose the exchange information on issuers and securities on its official website;

10. introducing the admission procedure for securities of non-resident issuers;

11. introducing the right and procedure for levying fees and payments for the admission of securities to placement and circulation (listing fees);

12. In accordance with the United Nations Sustainable Stock Exchanges initiative, a questionnaire was introduced for issuers of securities on the social and environmental aspects of the organization's activities and corporate governance issues into the Appendix 2 to the Rules.

The above-mentioned document comes into force on November 1, 2017.  

Tags: Listing News