At the 7th regular meeting of the FRC was held on May 8, 26 issues regarding insurance market, securities market, market of savings and credit cooperatives were discussed and resolved.

“Takhim Capital” LLC received insurance broker license, and named agents of “National Life Insurance” LLC received insurance agent license. The FRC discussed the 13 issues of the insurance sector such as registration of branches, registration of structural and capital changes, invalidating actuary license, appointment of officials.

Six issues of the securities sector were discussed, and the FRC licensed “Primer Dealer” LLC to conduct brokerage activity on the Mongolian Agricultural Commodity Exchange as well as approved merger of “Jinst Uvs” JSC and “Ard Financial Group” Closed-JSC. Also, registered changes in capital and shareholders’ structure of securities companies.

“Davst Urnu Delgerekh” savings and credit cooperative (SACCO) was licensed, and same type of license was extended for two SACCOs.
In addition, “Gurvan Bulag Invest NBFI “LLC was licensed to hold non-banking financial activities. Licenses of “Enerel Invest NBFI” and “North Asia Investment NBFI” were cancelled.

Source: Financial Regulatory Commission of Mongolia