Online registration of securities issues gains popularity among issuers
Nowadays, nearly one out of ten securities issues is registered online through company’s personal account. The service is mostly demanded by financial institutions that have necessary technical support for remote communication with the Bank of Russia.
Online registration has been available for issuers since the beginning of last year. The updated Securities Issue Standards set a simplified registration procedure. Now one can not only file documents online, but also receive confirmation of the successful registration in the same manner. The entire communication is held through a personal account that has a user-friendly interface and is available on a 24/7 basis. The service makes it possible to cut the cost and reduce the time of documents consideration.
Another important step towards the simplified preparation of issue-related documents is a publication of standardised forms with partial autosuggest and format and logical control. These forms help issuers avoid a large number of technical errors in their documentation.
At the last year-end, the Bank of Russia made a regular survey of issuers’ satisfaction with the regulator’s actions. The average satisfaction index given by the respondents has improved compared to the previous survey. Generally, the market positively assesses the availability of information on market players’ admission criteria, including online registration, and shows growing interest of issuers in this service.