Commonwealth of Independent States (CIS) members have agreed to work on creating a unified information exchange system to counter illegal activities in the stock market, Report informs, citing the CIS Executive Committee.
The decision was made during a meeting of the Economic Council, which approved the establishment of a working group for this purpose.
The group will be tasked with developing a unified information exchange system to combat illegal activities, as well as preparing a consolidated analysis on expanding investment instruments, including securitization, sukuk, and sustainable finance.
Representatives from Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan took part in the meeting, along with officials from the CIS Executive Committee, the Baku Stock Exchange, and Moscow Exchange.
During the meeting, participants discussed key trends in the securities markets of CIS countries, highlighting active efforts to coordinate financial and economic activities, improve mechanisms for issuing and circulating securities, and harmonize stock market regulatory standards.
Information was also presented on CIS countries' legislation regulating virtual assets (digital rights), as well as measures to avoid double taxation in transactions involving professional financial market participants.
The council decided to prepare a report titled "The practice of harmonizing the legislation of CIS member states regulating procedures, practices, and specifics of taxation in the securities market." The document will be submitted to the CIS Executive Committee for consideration by the organization's senior bodies in 2026.
The next council meeting is scheduled for the first half of 2026.