The Financial Regulatory Commission held its regular meeting on March 13th and discussed, resolved about 20 problems.

In the meeting, “Securities market insider information list, and its reporting regulation” was updated and approved. The regulation specifies exactly what information is considered insider, the principles to follow when reporting said information, who the owner of inside information is, prohibited activities concerning the individuals, and liabilities for violations. During times when the security market is developing rapidly, this regulation is passed to help against risks of abusing insider information, doing deceptive trades and manipulating price or quantities of trades to mislead clients and investors.

Moreover in the meeting, “Monos Khuns” LLC (Monos Food LLC) shares were registered and 30% or 122,655,128 shares were accepted to be offered in an IPO at a fixed price of 70 tugriks. Monos Foods is offering 50 percent or 61.3 million shares to strategic investors and the remaining 50 percent or 61.3 million shares to the public and planning to raise MNT 8.5 billion. “Golomt Capital” LLC is providing underwriting services, with “Grant tornton” LLC providing audit services, “Advicact ELC” partnership providing legal consulting and “Itgelt-estimate” LLC providing valuation services.

Moreover, “Rhino Asset Management Mongol” LLC and “TB Asset management” LLC were given investment management operation licenses.

Source: Financial Regulatory Commision of Mongolia, Mongolian Stock Exchange