Republika Srpska Securities Commission
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The Republika Srpska Securities Commission or KHOV RS is a financial services regulator in Republika Srpska, Bosnia and Herzegovina. It is based in the city of Banja Luka.
In Bosnia, the entities (Republika Srpska and The Federation) are separately responsible for the regulation and development of their capital markets. In June 1998, the National Assembly of the Republika Srpska adopted the Law on Securities that, among other areas of capital markets, established the Republika Srpska Securities Commission (Serbian Cyrilic: Комисија за хартије од вриједности Републике Српске, Serbian Latin: Komisija za hartije od vrijednosti Republike Srpske).
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[edit] Objectives
The objectives if the Commission are:
- supporting the establishment and development of a securities markets in the Republika Srpska
- the efficient functioning of a regulated, fair, open securities market in order to gain the confidence of all stakeholders
- protection of investors' and other market participants' interests.
[edit] Roles and responsibilities
According to the Commission website, the Commission is delegated, among others, the following authorities and powers:
- pass regulations on the Republika Srpska securities market operations
- prescribe the conditions, issuing method and trading of securities distributed through the public offer
- license and supervise investment funds, investment fund management companies and other participants in the securities market
- monitor compliance with rules for ordinary trading and fair competition in securities trade
- ensuring the efficient functioning of the securities market and the protection of investors' interests
- prescribe elements of mandatory disclosure to investors and the public
- suspend the issuance and trade of particular securities and undertake other activities in the case of manipulation during trade
[edit] Organisation
The Commission is comprised of a President, Deputy President and three other Commissioners appointed by the National Assembly of the Republika Srpska on the proposal of the Republika Srpska Government. Commissioners are appointed for 5-year terms. The current President is Mr Miodrag Jandrić, Deputy President is Ms Branka Bodroža and other Commissioners are Mr Željko Slijepčević, Mr Predrag Gajić and Ms Božana Šljuvar.
