CIS committee of IOSCO to be created

During his working visit to Spain, Chairman of the Federal Commission for the Securities Market Igor Kostikov met with the leadership of the International Organization of Securities Commissions (IOSCO) and discussed the possibility of creating a CIS regional committee for this organization. As the press center of the Federal Commission for the Securities Market reported, at a meeting with IOSCO Deputy Secretary General Jean-Pierre Cristel, it was said that the creation of the regional committee would allow for the participation of CIS countries in the development of unified regulations for activities on stock markets and receiving information on the activities of other national securities commissions.

Kostikov held these negotiations before the first meeting of the council of heads of authorities for regulating securities markets under the integration committee of the Eurasian Economic Community, which was scheduled for March 28, 2003.

Kostikov and Cristel also touched upon the circulation of Russian Eurobonds and derivatives of Russian issuers on European markets. The participants of the talks discussed the volume of information, which should be released by issuers while floating Eurobonds, and the outlooks for this stock market sector.