Pēd. atjaunots: 21.07.2024 19:12 (GMT+3)

TSE: Changes in the rules and regulations

21.03.2001, Nasdaq Tallinn, TLN
TALLINN STOCK EXCHANGE
ANNOUNCEMENT

TSE: CHANGES IN THE RULES AND REGULATIONS

The Supervisory Board of Tallinn Stock Exchange (TSE) held its
meeting on March 21, 2001.

1. The Supervisory Board annulled article 4.4.2. of chapter
"Membership Rules" of TSE Rules and Regulations. According to this
amendment the Exchange withdrew the requirement for a qualification
certificate of a securities specialist or a fund manager from the
applicants of the status of approved broker.

This requirement and the issue of qualification certificates will
be invalidated under the draft of the new Securities Market Act. As
before the candidates for approved broker status must pass the
TSE's approved broker exam.

2. The Supervisory Board annulled article 5.4.8. and amended
article 5.4.9. of chapter "Membership Rules" of TSE Rules and
Regulations, whereby the Exchange no longer requires its members to
conduct an internal audit twice a year.

This requirement was annulled to cut the costs of the Exchange
member firms without actually worsening the quality of
surveillance. As before a member firm of the TSE is obligated to
ensure the presence of an internal audit employee or a relevant
department. The Surveillance Committee of TSE also has the right to
require an Exchange member firm to conduct an internal audit at any
point of time.

3. The Supervisory Board added article 4.5.2. to the TSE price list
to lower the fees for trades in fixed income securities for
Exchange members from the current 0.025% down to 0.01% of
transaction size.

4. The Supervisory Board added article 5 to the TSE price list,
whereby the Exchange establishes the processing fees for take-over
bids to the offerors, i.e. to the person that has made a take-over
offering to the target company.


The amendments to the TSE Rules and Regulations, effective as of
April 1, 2001, are available on TSE internet homepage at <a href='http://www.tse.ee' target='_blank'>http://www.tse.ee</a>
under subsection Rules and Regulations/Amendments to the Rules and
Regulations.


Additional information:
Gert Tiivas
Chairman of the Management Board
Tallinn Stock Exchange
+372 6 408 840

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