COMPLIANCE
COMPLIANCE ROADMAP 2024
A detailed Compliance Roadmap to 2024 has been developed in conjunction with the expert divisions of Group companies, which takes into account the Group’s strategy and is designed to help achieve the Group’s mission.
In 2022, the Group continued to implement the roadmap objectives, taking into account the adjustments that were promptly made due to significant changes in the regulatory environment. Examples of roadmap activities implemented:
- in order to improve the efficiency of compliance risk management, the concept and roadmaps for the development of Group’s centres of expertise in compliance areas were approved;
- to facilitate the exchange of best practices between the Group, the Bank of Russia, financial market participants and self-regulatory organisations, Moscow Exchange held its annual conference entitled Compliance: Key Trends 2022;
- in order to confirm the effectiveness of compliance, Moscow Exchange underwent a compliance audit in accordance with ISO 37301:2021, “Compliance Management System”, and underwent an operational audit in accordance with ISAE 3402;
- to protect the legal rights of investors, the Group, together with self-regulatory organisations, professional associations and major financial market participants, established the Investor Protection Club;
- NSD started challenging the EU blocking sanctions against the company; applications for Licences to unblock investor funds were submitted to the EU competent authorities.
ATTESTING COMPLIANCE EFFICIENCY
In 2022, Moscow Exchange obtained a certificate of compliance with the international compliance management system standard ISO 37301:2021 Compliance management systems – Requirements with guidance for use. The certificate of compliance is valid until 9 November 2024 and provides for annual surveillance audits. In 2022, Moscow Exchange successfully passed an independent supervisory audit and confirmed compliance of Moscow Exchange’s compliance management systems with ISO 37301:2021 in relation to:
- anti-corruption;
- combating money laundering and the financing of terrorism;
- preventing unlawful use of insider information and market manipulation;
- resolving conflicts of interest;
- exercising internal control over the activities of the market operator and the financial platform operator.
- economic restrictions.
In 2022, Moscow Exchange successfully completed an operational audit in accordance with International Standard on Assurance Engagements 3402 (“ISAE 3402”). As a result of the audit, a SOC 1 Type 1 report was issued expressing the independent auditor’s opinion on the effectiveness of the design and implementation of control procedures for the Financial Platform Client Admission, Trading Member Admission and Listing processes to process client transactions as at 31 July 2022.
COMPLIANCE
Information in this report has been consolidated in accordance with Bank of Russia Instruction No. 714-P “On Disclosing Information by Securities Issuers” dated 27 March 2020, the Bank of Russia Corporate Governance Code of 21 March 2014 and GRI G4 Sustainability Reporting Guidelines.