NSSMC relevant Committee will consider draft Resolutions on REF certificates and the CCF reserve – announcement

Please be informed that on 11 November at 16h00 a meeting of the NSSMC Committee on Financial and Credit Mechanisms for Construction and Mortgages will take place, where two draft Resolutions will be considered.

The first draft Resolution “On Approval of the Regulations on the Procedure for Issuing and Trading Real Estate Fund (REF) Certificates.” These Regulations determine the procedure for issuing, trading, and registering REF certificates, approval of their prospectus, amendments to the decision on the issue, submission of reports on the results of the issue or redemption of certificates, as well as cancelation of their registration with the NSSMC.

The second draft Resolution is “On Amendments to the Regulations on Professional Activities in Capital Markets – Asset Management Activities for Financing Construction Projects and/or Real Estate Transactions.” The draft proposes to add to the Regulations on asset management activities for financing construction and real estate transactions a new clause. It specifies the requirements for the operational reserve if a certain CFF is transferred to a new administrator by court decision.

For questions regarding participation, please contact us at [email protected].