The Senate Deputy chair Sodiq Safoev hosted the delegations of the US Securities and Exchange Commission and Commodity Futures Trading Commission, the Senate said.
The US officials noted that Uzbekistan has a great potential for development of the capital market, which needs to be fully tapped. The US Securities and Exchange Commission, the main body responsible for overseeing and regulating the US securities market, is ready to assist the Uzbek capital market regulator to implement best practices and personnel training.
Officals of the US Commodity Futures Trading Commission also expressed intention to promote competitive and efficient futures markets and to assist investors in the implementation of trading fraud and crime protection mechanisms.
On November 12-14, this year, the Capital Market Development Agency hosted the first training seminar for the Central Asian Capital Markets, Central Banks and Finance Ministries. At the seminar, experts from the US Securities and Exchange Commission and Commodity Futures Trading Commission shared their views on market development, law enforcement practices, market participants' expertise, and public offering.
The parties reportedly identified a number of issues that need to be reviewed and exchanged views on drafting relevant legislation and implementation of parliamentary control over the observance of the legislation.
