On Monday, November 12th the Albanian Securities Exchange (ALSE) participated in the meeting organized by Albanian Financial Supervisory Authority (AFSA) related with the second phase of the project: “Strengthening the capacities of Albanian Financial Supervisory Authority, focused at the development of Capital Market” by presenting the new Draft-Law “ On Capital Markets in Albania”.
During this meeting consultants of World Bank presented the new Draft-Law “On Capital Markers in Albania”. This draft was comprehensive and it contained information on:
- 1) Investment Firms as capital market operators;
- 2) AFSA functions on capital markets;
- 3) Supervision methods of AFSA on market operators;
- 4) Organization of Stock Exchange and other regulated markets;
- 5) Organization of Central Depository and Clearing & Settlement Houses;
- 6) Defining issuing criteria in Private and Private Offers;
In this discussions, together with ALSE participated also other market operators such as Brokerage Firms, Investment Funds and Microfinance Institutions, expressing their comments for this draft in order to improve its quality.
Experts of Albanian Financial Supervisory Authority and World Bank consultants engaged to consider carefully the comments of market operators and promised addressing them where is possible and in accordance with the consistency of our legislation with the European Union Directives.