Deputies to assess the prospects for the development of the securities market in Belarus at an off-site meeting in Miory

October 6, Minsk /Katsiaryna Nechaeva - BELTA/. The state and prospects of the securities market development in Belarus will be assessed by deputies of the House of Representatives Standing Committee on Monetary Policy and Banking during an off-site meeting in Miory, Vitebsk region, on October 6 and 7. This was reported to a BELTA correspondent by the committee chairman Yevgeny Artyushenko. Two bills concerning the securities market are to be submitted to the House of Representatives in the near future: a bill on amendments to the law "On Depository Activities and the Central Securities Depository in the Republic of Belarus" and a draft law "On Emission Securities and Professional Participants of the Securities Market." These two documents will be the focus of the off-site meeting participants. In addition to deputies, representatives of the Securities Department of the Ministry of Finance (who are the lead developers of the bills) and various joint-stock companies that will operate under the new laws will join the discussion. "Belarus has an association that deals with the securities market and unites professional market participants. It is interesting to know how they see the prospects for the development of the securities market in our country," noted Yevgeny Artyushenko. In his opinion, the domestic stock market "is not even in its infancy," and Belarusian society as a whole and each citizen individually are not ready to participate in securities market operations. Meanwhile, in other countries, primary investors, i.e., individuals, are a huge part of shareholders. For example, in the USA, every second American is an investor. The parliamentarian attributes the inertia of Belarusians in the securities market to their lack of knowledge of the specifics of this sphere and peculiarities of mentality. The fact is that the securities market is subject to psychological expectations and the influence of subjective factors. "For example: will the winter be cold or not? Is it worth investing in fuel oil futures or not? Theoretically, if the winter is cold, more fuel oil will be needed. If more is needed, then prices will go up, and you can make money on it. What if not?" said Yevgeny Artyushenko, adding that most Belarusians are not ready for personal risks and, in case of financial failure in the stock market, habitually look for culprits, those who will compensate for losses. "Our people believe that if they have invested, they must have a guaranteed return," the deputy is confident. But in the case of stocks, this is not always the case; the principle "If you are ready for profit, be ready for losses" applies here. Yevgeny Artyushenko believes that the bills to be submitted to parliament are unlikely to significantly change the situation in the stock market. "Legislation in the field of the securities market is quite inert and rigid. The amendments to be introduced are dictated by law enforcement practice. There will be no revolution (in the securities market due to the adoption of new bills. - BELTA note)," the parliamentarian summarized. -0-