Financial Regulatory Commission to mediate dual listings
The Financial Regulatory Commission (FRC) will be drafting rules of procedure to regulate and mediate dual listings between the Mongolian Stock Exchange and 26 other approved stock exchanges.
In July 2017, FRC approved a temporary list of foreign stock exchanges that companies will be allowed to dual-list on.
The revised Securities Market Law of Mongolia, adopted on May 24, 2013, provided a legal framework for dual listing of securities on both the Mongolian Stock Exchange (MSE) and international exchanges.
According to MSE, this move will enable companies that are already listed on the approved stock exchanges and have registered underlying securities in jurisdictions that have a well-established investor protection system, to be exempt from certain regulatory requirements when issuing their shares and depository receipts in the Mongolian capital market.
Officials note that this will help over 30 companies operating in Mongolia and listed on five international exchanges to expand their market as well as Mongolian citizens to own and benefit from those securities.
FRC will be receiving public feedback in order to create the rules of procedure.
Temporary list of foreign stock exchanges allowed for dual-listing
1. Australian Securities Exchange - Australia 2. Wiener Borse - Austria
3. Euronext Brussels - Belgium
4. Toronto stock exchange - Canada
5. Toronto venture exchange - Canada
6. Nasdaq Copenhagen - Denmark
7. Nasdaq Helsinki - Finland
8. Euronext Paris - France
9. Deutsche Bourse - Germany
10. The Stock Exchange of Hong Kong - Hong
11. Irish stock exchange - Ireland
12. Tel-Aviv stock exchange - Israel
13. Borsa Italiana - Italy
14. Tokyo stock exchange- Japan
15. Korea Exchange - Korea
16. Euronext Amsterdam - Netherlands
17. New Zealand Stock Exchange - New Zealand 18. Oslo Bors - Norway
19. Euronext Lisbon - Portugal
20. Singapore Exchange - Singapore
21. Bolsa de Madrid - Spain
22. Nasdaq Stockholm - Sweden
23. SIX Swiss Exchange - Switzerland
24. The London Stock Exchange - United Kingdom 25. The New York Stock Exchange - United States
26. Nasdaq - United States of America