BELGRADE (Serbia), July 24 (SeeNews) – Russia's central bank said it signed a memorandum of understanding (MoU) with Serbia's Securities Commission to allow information exchange between the two institutions.
The purpose of the agreement is to set out a communication procedure between the Russian and Serbian securities and derivatives market authorities and to establish effective long-term cooperation and information exchange, the central bank said in a statement on Monday.
The agreement envisages cooperation in the supervision and monitoring of compliance with applicable legislation relating to the securities and derivatives markets, combating money laundering and terrorism financing, combating unlawful use of insider information and market manipulation as well as detecting activities that can represent financial pyramids, the central bank noted.
The MoU is effective from July 11, and also envisages information exchange on the supervision of financial groups as well as risks arising in the markets, the central bank added.