Open news feed Close news feed
A A

WE SHOULD JOIN ONE MORE INTERNATIONAL ORGANIZATION

Economy

To develop the market of securities Armenia should joint the International Organization of Securities Commissions. In the opinion of chairman of the RA commission on securities Eduard Muradyan in this way a legislation on the market of securities corresponding to the international standards can be adopted in Armenia.

The principal obstacle for the development of the market is the unstable juridical system. “Any drastic change can cause panic and many people can lose big sums”, Eduard Muradyan noted.

Only 220 Armenian companies are familiarized with the norms of the market of securities and attempt to follow them in their activities.

To note, as result of numerous complaints 123 administrative proceedings have been initiated in 2004. In 42 cases penalties totaling in 17 million AMD were imposed.