2014 year

2014

  • The first Forum on the Savings and Credit Unions had been organized.

2014.03.14 

  • MoU between FRC and Mongolian Association of Non Bank Financial Institutions had been re-signed.

2014.04.17

  • In the framework of mutual project of "Capacity building of Micro Insurance Market" of UNDP and Luxembourg Government, the Internaitonal Forum on the "Inclusive Insurance 2014" had been organized. Delegates from India, Bangladesh, Philippine, Korea, China, Hong Kong, Japan, Taiwan, and New Zealand participated in this forum, and well-known experts on insurance had presented their presentation..

2014.04.24 

  • MoU between FRC and Mongolian National Association of Savings and Credit Unions had been resigned.  

2014.05.08 

  • MoU between FRC and Association of Agricultural and Commodity brokers and providers, and Secretiariat of Commodity Exchange Regulatory Council had been signed.

2014.06.10 

  • MoU between FRC and Mongolian Association of Securitiies Dealers had been signed.  

2014.06.13 

  • The Law on the Index based Livestock Insurance had been approved.

2014.06.18

  • FRC has united in IOSCO MMoU. Upon signed in this MMoU, FRC has opportunities to share information, cooperate on securities supervision with its 198 member organizations.

2014.07.07

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2014.07.07

  • Trilateral MoU between FRC, National Agency for Children, and Mongolian Insurers Association had been signed on the situation of accident of horse racing children.

2014.12

  • The "Capital Market Capacity Building" Project has been started, financed by the JICA, and supported by the Japan Financial Services Agency for 3 years.

2014.12.01

  • Non-bank financial institutions had opportunities to participate foreign exchange auction of Bank of Mongolia.

2014 он

  • The "Capacity building of micro insurance" project for the poor and low income people of UNDP had successfully finished.

2014 он

  • The "History of Mongolian savings and credit unions" documentary movie had released public, and financed by the JFPR-9152 project of ADB.

2014 он

  • The TV serial "Training for Millioner" had been released and launched by ADB project JFPR-9152. The serial was for public financial literacy based on the true life.

2013 year

2013.03.13

  • The first special license to operate commodity broker in Commodity exchange.

2013.04 

  • The first trade on Commodity exchange was goat cashmere by SPOT trade. During the fiscal period of 2013, goat cashmere, sheep wool, rapes, and camel wool traded 132 times and totally 404.1 billion MNT, and confirmed transactions.

2013.04  

  • The Credit Guarantee Fund officially opened.

2013.5.24 

  • Law on the Securities Market had been re-approved.

2013.06.17

  • The Non government organization "Association of Insurance Loss Adjusters" has established.  

2013.09.23  

  • In realtion with the approval of Law on the Securities Market, the "Risk management of Securities Settlement, and Custodian activity of International market" international forum had organized.

2013.10.03  

  • The Law on the Investment Fund had approved.

2013.10.11 

  • MoU between FRC and Securities and Futures Commission of Hong Kong had been signed.

 

2012 year

2012.02.10 

  • The Law on the Credit Guarantee Fund had approved. In this law FRC shall approve the Charter of Credit Guarantee Fund, and make amendments in Charter.

2012.04.27 

  • FRC defined its mission and vision, and approved the "Operational Strategy of FRC 2012-2016".

2012.07.02 

  • Upon introduced new MIT system in Mongolian capital market, the securities settlement transfered to T+3 system.

2012.10

  • The "Mongolian Association of Insurers brokers" had established.

2012 

  • The securities settlement transactions had been done by four commercial banks.

2012

  • The project "Promoting financial inclusive services for the poor" by Japan Fund for the Poverty Reduction and ADB had been started.

2012

  • Initially introduced Driver's Liability Insurance system in insurance sector as a first mandatory insurance.

2011 year

2011.01.10 

  • The Project "Financial Sector Capacity Building and Training" MON/004 financed by Government of Grand Dutch of Luxembourg had been started.

2011.03.09 

  • The "National Program of Corporate Governance Development" had been approved.

2011.4.07  

  • The "Master Agreement" between Mongolian Stock Exchange and London Stock Exchange had been signed.

2011.08  

  • The "Economy Policy Reform and Competitiveness" had finished, and the "Business Plus Initiative" by USAID had started. FRC had been selected for the partner on financial sector.

2011.09.22  

  • The trilateral MoU between FRC, Bank of Mongolia and Financial Services Commission of Republic of Korea had been signed.

2011.10.06  

  • The first mandatory insurance law "Law on the Driver's Liability" had been approved.

2011.10.06  

  • The Company Law had been re-approved.

2011.10.27 

  • The Law on the Savings and Credit Unions had been approved.

2011.11

  • The Association of Mandatory Insurance had establidhed.

2011

  • For the purpose of to meet international standards, the Securities Clearing House and Settlement Centre had been connected to settlement network of bank transfers and online mode by Bank of Mongolia.

 

2010 year

2010

  • The MoU between FRC and Mongolian Non Bank Financial Institution had been signed.

2010

  • Introduced the "Capital Market Development Plan 2010-2012" to the Government of Mongolia, and had been approved by the decree No. 115 of 2015. Upon approval this decree, the base established to implement actions between state and non government organizations connection.

2010.04.23  

  • The Law on the Asset Backed Securities had been approved.

2010.07 

  • FRC became a member of Alliance for Financial Inclusion /AFI/. The AFI is the global organization for emerging market countries financed by Bill and Melinda Gates Fund and managed by German International Organization /GIZ/.

2010.08.31  

  • Initially overbalanced capital market evaluation over 1 btrillion MNT.

2010.10.27  

  • The MoU between FRC and Polish Financial Supervisory Commission had been signed.

2010.11 

  • Preparation of share registeration in Depository centre by international standards had been done, and became a member of ANNA which implementing agency.

2009 year

2009

  • Promoted "The year for financial education".

2009

  • The "Main Orientation for development Capital Market 2009-2012" had approved

2009

  • FRC became an associate member of International Organization of Securities Commission /IOSCO/.

2009

  • The "E-clearing House" system was released and introduced in securities settlement clearing, and depository centre activity.

2009

  • Introduced online account service.

2009.05 

  • The Project "Micro Insurance Market Capacity Building" by UNDP had started to implement for the purpose to involve low income people, and increase social welfare in the framework of Millenium challange of poverty reduction.

2009.07.09  

  • The Law on Property Collateral had been approved by the Parliament of Mongolia.

2009.07.09  

  • The Law on Currency Settlement had been approved.

2009.07.09  

  • The Law on the Currency Regulation had been amended, and legal entities and citizens except commercial banks are regulated by FRC.

2009.09.25

  • The MoU between FRC and the Agency of the Republic of Kazakhstan on the Regulation and Supervision of Financial Market and Financial Organization had been signed.

2009

  • According to the guidelines of World Bank "Insurance companies corporate governance codex" had been approved.

2009

  • The amendment to the Law on the Insurance had been drafted, and the "Regulation of increse minimum threshold of equity capital of insurance companies by 2 times" had approved.

2009

  • Mongolian Ipotek Corporation" LLC issued asset-backed shares for the purpose of to connect ipotek initial market with capital market, and to support imlementing state policy to provide public apartment demand and decrease loan interest. And 25000 bonds of MIC were registered.

 

2008 year

2008

  • Promoted "The year of Micro finance development".

2008

  • The first life insurance company was established.

2008.01.24 

  • The MoU between FRC and Securities Exchange Commission of Rebuplic of China had been signed for the purpose to share information, and cooperaate on securities regulation.

2008.03.05  

  • The agreement between FRC adn Bloomberg had been signed for using Bloomberg service.

2008.04.10 

  • Mongolian Stock Exchange became a member of Association of Asia-Pacific Stock Exchanges.

2008.10.22 

  • The "Main Orientation of Capital Market Development 2009-2012" had been approved.

2008.10.27  

  • During the Prime Minister of Grand Dutch of Luxembourg visit in Mongolia, in the framework of cooperation of Governments, have signed in the MoU for implementing "Financial Sector Capacity Building and Training" Project, and granted aid with 2 million euro.

2007 year

2007

  • Promoted "The year for Capital Market Development".

2007

  • The Law on the Compliance some articles of Cooperative Law had been approved, upon approval this law 420 cooperatives had terminated.

2007.06.28  

  • The Law on the Compliance some articles of Cooperative Law had been approved.

2007.06.29 

  • Mongolian National Association of Savings and Credit Cooperatives had established.

2007.08.03 

  • The Law on the Reimburse Loss had been approved.

2007

  • According to the Law on the Reimburse Loss, the loss of members of Savings and Credit Cooperatives with 50% as 36.1 billion MNT granted from state.

2007.09.19

  • FRC became a member of Interantioanl Association of Insurance Supervisors.

2007.11.29 

  • "FRC Action Plan 2008-2010" had been approved.

2007.12

  • Foreign currency exchange centers were being under regulation and supervision of FRC.

2007.12.26

  • Based on the "Corporate Governance Principles" approved by Organization of Economic Cooperation Development /OECD/, the "Corporate Governance Codex" had been approved.

2006 year

2006.01.25 

  • Financial Regulatory Commission established with the fucntion to regulate and supervise financial sector except bank.

2006

  • "Reforming financial sector and Technical Assistant Project" by Asian Development Bnak had started. In the framework of project, developing capital market, re-drafting the Law on the Savings and Credit Union, and implementing technical and economic evaluation of information database.
 

2005 year

2005.11.17 

  • The Law on the Legal Status of Financial Regulatory Commission had been approved.

2005

  • The Law on the Cooperatives and Law on the Legal Entities Activities had been amended, legalized to grant special license on savings and credit unions by FRC.

2016 year

Please click here to download annual report 2016 of Financial Regulatory Commission of Mongolia

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