The legal grounds for signing protocols
In line with Article 262 of the Law on the Capital Market, the Securities Commission is competent to cooperate with international organizations, foreign regulators and other local and/or foreign bodies and organizations in order to provide legal assistance, exchange information and in other cases.
Protocols on cooperation with securities regulators of other countries represent a written consent of the signatories on mutual cooperation and provision of technical assistance and exchange of information within their remit and in the area of securities markets.
The purpose of signing protocols
Bilateral cooperation of the national securities commission with national regulatory authorities of financial markets of other countries has the purpose of:
• Exchange of experience in regulation, supervision and development of national financial markets
• Exchange of public information on international transactions and efficient conduct of transactions on the securities markets
• Sanctioning violations
• Preventing disturbances of the securities market caused by external factors etc.
• Bilateral agreements with securities regulators of other countries have the aim to integrate the national financial market into the world market. They should also enhance application of principles of the International Organization of Securities Commissions (IOSCO) and facilitate efficient cross-border transactions of securities with maximum protection of investors.
Signed bilateral agreements on cooperation
The Securities Commission has signed the following Protocols regarding Technical Cooperation, Mutual Assistance and Consultations (Protocols on Cooperation), and Memoranda of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MoU):
1. Protocol on Cooperation signed with the Federal Commission for the Capital Market of the Russian Federation, in St Petersburg, 19 June 2001;
2. Protocol on Cooperation signed with the Securities Commission of Republika Srpska, in Banja Luka, 07 November, 2001;
3. Memorandum of Understanding signed with the Securities Commission of Bosnia and Hercegovina, in Belgrade, 17 November, 2004;
4. Memorandum of Understanding signed with the Securities Commission of Romania, in Belgrade, 22 November, 2004;
5. Memorandum of Understanding signed with the Securities Commission of the Republic of Croatia, in Zagreb, 12 October, 2005;
6. Memorandum of Understanding signed with the Securities Commission of Montenegro, in Belgrade, 3 November, 2005;
7. Memorandum of Understanding signed with the Securities Commission of the Republic of Greece, in Athens, 6 December, 2005;
8. Memorandum of Understanding signed with the Financial Supervision Commission of the Republic of Greece, 5 October, 2007;
9. Memorandum of Understanding signed with the Financial Supervision Commission of the Republic of Bulgaria, 5 October, 2007;
10. Memorandum of Understanding signed with the Securities Commission of B&H Brčko District, in Belgrade, 13 March, 2008;
11. Memorandum of Understanding signed with the Securities Commission of the Republic of Macedonia, Ohrid, 9 October, 2008;
12. Memorandum of Understanding signed with the Securities Market Agency of Slovenia, in Opatija, 12 April, 2010;
13. Declaration on Cooperation, signed by the regional capital market regulatory authorities on 30 November 2011.
In line with Article 262 of the Law on the Capital Market, the Securities Commission is competent to cooperate with international organizations, foreign regulators and other local and/or foreign bodies and organizations in order to provide legal assistance, exchange information and in other cases.
Protocols on cooperation with securities regulators of other countries represent a written consent of the signatories on mutual cooperation and provision of technical assistance and exchange of information within their remit and in the area of securities markets.
The purpose of signing protocols
Bilateral cooperation of the national securities commission with national regulatory authorities of financial markets of other countries has the purpose of:
• Exchange of experience in regulation, supervision and development of national financial markets
• Exchange of public information on international transactions and efficient conduct of transactions on the securities markets
• Sanctioning violations
• Preventing disturbances of the securities market caused by external factors etc.
• Bilateral agreements with securities regulators of other countries have the aim to integrate the national financial market into the world market. They should also enhance application of principles of the International Organization of Securities Commissions (IOSCO) and facilitate efficient cross-border transactions of securities with maximum protection of investors.
Signed bilateral agreements on cooperation
The Securities Commission has signed the following Protocols regarding Technical Cooperation, Mutual Assistance and Consultations (Protocols on Cooperation), and Memoranda of Understanding Concerning Consultation and Cooperation and the Exchange of Information (MoU):
1. Protocol on Cooperation signed with the Federal Commission for the Capital Market of the Russian Federation, in St Petersburg, 19 June 2001;
2. Protocol on Cooperation signed with the Securities Commission of Republika Srpska, in Banja Luka, 07 November, 2001;
3. Memorandum of Understanding signed with the Securities Commission of Bosnia and Hercegovina, in Belgrade, 17 November, 2004;
4. Memorandum of Understanding signed with the Securities Commission of Romania, in Belgrade, 22 November, 2004;
5. Memorandum of Understanding signed with the Securities Commission of the Republic of Croatia, in Zagreb, 12 October, 2005;
6. Memorandum of Understanding signed with the Securities Commission of Montenegro, in Belgrade, 3 November, 2005;
7. Memorandum of Understanding signed with the Securities Commission of the Republic of Greece, in Athens, 6 December, 2005;
8. Memorandum of Understanding signed with the Financial Supervision Commission of the Republic of Greece, 5 October, 2007;
9. Memorandum of Understanding signed with the Financial Supervision Commission of the Republic of Bulgaria, 5 October, 2007;
10. Memorandum of Understanding signed with the Securities Commission of B&H Brčko District, in Belgrade, 13 March, 2008;
11. Memorandum of Understanding signed with the Securities Commission of the Republic of Macedonia, Ohrid, 9 October, 2008;
12. Memorandum of Understanding signed with the Securities Market Agency of Slovenia, in Opatija, 12 April, 2010;
13. Declaration on Cooperation, signed by the regional capital market regulatory authorities on 30 November 2011.