Regulatory Alerts2026-03-04 | 09/21/3859/К03Added · Updated
Decision on Amendments to the Approval Procedure for Key Personnel of Capital and Organized Commodity Market Participants
The National Commission for Securities and Stock Market amends the approval procedure for key personnel of capital market participants, introducing a comprehensive assessment process that extends the review period to 60 calendar days. The decision establishes specific timelines for the dismissal or replacement of personnel following a refusal to approve, including a 30-day window for general refusals, a 5-day window for professional competence refusals after a second submission, and a 90-day window for supervisory board roles. It also restricts re-submission of candidates rejected for professional competence to two attempts, spaced at least one month apart, while imposing a one-year cooling-off period for other types of refusals.
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