COMPLIANCE

CONTINUOUS IMPROVEMENT OF COMPLIANCE

In 2023, Moscow Exchange Group continued to implement the objectives of the compliance roadmap for 2020-2024, taking into account the adjustments that were made due to significant changes in the regulatory environment.

• To improve the efficiency of compliance risk management, inter-Group competence centres for compliance areas were established.
• To promote best practices between the regulator, financial market participants and self-regulatory entities, the Group held its annual conference Compliance: Key Trends 2023.
• To confirm the effectiveness of compliance at the Group level, the Group was certified under the international compliance management standard ISO 37301:2021.
• To protect the legitimate rights of investors, the Investor Protection Club established in 2022 continued its work with support from the Group.
• The Group continued to challenge the EU blocking sanctions against NSD.

ATTESTING COMPLIANCE EFFICIENCY

Moscow Exchange Group received the Compliance 2023 award in the category “For Developing a Culture of Trust in the Financial Market”. The judges praised the Group’s efforts to ensure fair behaviour of market participants, improving financial literacy and protecting investors’ rights. They also highlighted the Group’s innovative systems to identify unfair practices and support for sustainability initiatives.

In 2023, Moscow Exchange Group was certified to ISO 37301:2021 for the first time. Moscow Exchange and NCC confirmed compliance with the standard, while NSD and NTB passed certification audits for the first time. Auditors of Bureau Veritas Certification Rus JSC assessed not only the efficiency of compliance management according to the standard, but also stressed the uniform compliance methodologies and processes across the Group.

The following items were independently audited for compliance of the corporate control system with ISO 37301:2021:

• internal control of licensed business;
• combating money laundering, the financing of terrorism and the financing of proliferation of weapons of mass (AML/CFT/ FPWMD) destruction;
• preventing unlawful use of insider information and market manipulation;
• control of foreign taxes (FATCA/CRS);
• anti-corruption;
• conflict of interest management;
• economic restrictions.