New rules, implementation and effects of the capital market law
Capital Market – Institutions, Investment, and Investor Protection conference, presided by Prime Minister and Finance Minister Mirko Cvetkovic and the U.S. Embassy’s Chargé d’Affaires Lee Litzenberger, highlighted the new protections the Capital Market Law and its bylaws will provide for investors. The symposium, held at the Grand Hyatt Hotel in New Belgrade, was hosted by the Securities Commission and USAID’s Business Enabling Project.
-The U.S. Government, through USAID, has provided significant assistance to the Government of Serbia to develop the Capital Market Law and relevant bylaws, said Litzenberger. The result is that all market participants are now working within a clear regulatory framework. The new legal framework for the Serbian capital market involves Law on Capital Market, Law on Companies, and Law on Takeover. International standards and European Union’s directives had a major influence on the new regulations which will improve the market’s operation. The conference was an opportunity for discussion of important issues to define the direction and procedures necessary for the creation of a more efficient, deeper, and more liquid market, said Securities Commission President Zoran Cirovic, adding that the laws would help attract Serbian and foreign investors.