Within the EU accession negotiation chapter which focuses on financial services (Chapter 9), representatives of the Securities Commission of the Republic of Serbia took part in a workshop organised under the PLAC IV project. The workshop was dedicated to presenting the project’s work on drafting the rulebooks necessary for the implementation of the Capital Market Law, prepared by Prof. Nebojša Jovanović, PhD, the project expert.
In his opening remarks, Prof. Jovanović emphasised the scale of the challenge: instead of the initially planned six or seven rulebooks, the assignment ultimately produced 10 draft rulebooks, namely:
- On the chart of accounts and financial statements of an investment firm (including the following forms: chart of accounts, financial statement and statistical statement)
- On the chart of accounts and financial statements of the Central Securities Depository (with three forms: chart of accounts, financial statement and statistical statement)
- On the chart of accounts and financial statements of a market operator (with three forms: chart of accounts, financial statement, and statistical statement)
- On reporting by the Central Securities Depository
- On periodic and ad-hoc reporting by the Central Securities Depository (containing 4 annexes of forms and 13 tables)
- On the content, format, and deadlines for submitting annual reports and independent auditor’s reports that an investment firm files with the Commission:
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- On control reports by investment-service providers (with six attached forms/tables)
- On the independent auditor’s report of an investment firm
- On the method of calculating capital and its adequacy, and on the contents of an investment firm’s trading book:
- On prudential (capital-adequacy) requirements for investment firms
- On risk management relevant to the capital adequacy of an investment firm
- On the trading book of an investment firm
According to Prof. Jovanović, the primary goal of this segment of the project is to harmonise the Securities Commission’s existing rulebooks with the Capital Market Law and with European Union regulations, thereby enabling the Commission to operate more efficiently.
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