In accordance with the Resolution No.:48 and 68 of 2017 of the Financial Regulatory Commission (FRC), trading licenses of 8 securities companies have been revoked. Based on the Article 6.1.1 of the Law on Legal Status of FRC, the Article 87.2.2 and 87.4.1 of Securities Law of Mongolia and the “Regulation on Measures in Insolvency of Brokers, Dealers, and Underwriters", the Tender Committee was established by the Order No.: 517 of 2017 by the Chairman of FRC. The purpose of the Tender Committee is to transfer the clients from those eight securities companies to other securities companies.
|
№ |
Name of Securities companies |
Types of Special Licenses |
Number of Clients |
|
1 |
“MWTS UTsK” LLC |
Broker, Dealer |
28850 |
|
2 |
“Baga Kheer UTsK” LLC |
Broker, Dealer |
711 |
|
3 |
“Finance Link Group UtsK” LLC |
Broker, Dealer |
584 |
|
4 |
“Goviin Noyon Nuruu UTsK” LLC |
Broker, Dealer |
329 |
|
5 |
“Zeus Capital UTsK” LLC |
Broker, Dealer, investment adviser |
289 |
| 6 | "Prevalent UTsK" LLC | Broker Dealer, Underwriter | 265 |
|
7 |
“Би Би Эс Эс ҮЦК” ХХК |
Брокер, дилер |
116 |
|
8 |
“Ай Трейд ҮЦК” ХХК |
Брокер, дилер |
11 |
|
|
TOTAL |
31155 |
|
Therefore, securities companies that wish to transfer clients from companies with revoked licenses should submit the materials specified on the Article 5.2 in the “Regulation on Measures in Insolvency of Brokers, Dealers, and Underwriters", to the Tender Committee by 05 January 2018.
The Tender Committee will evaluate the tender materials within 10 working days from the final day of material acceptance and inform the tender receivers. The tender receivers will present the transfer proposal to the FRC within 3 working days.
Note: For further information please contact 261659.
THE TENDER COMMITTEE
2017.12.05