COMPLIANCE

One of the key areas of work in 2021 in the Group was the development of a corporate compliance culture and the development of unified approaches to compliance risk management.

COMPLIANCE ROADMAP 2024

A detailed Compliance Roadmap to 2024 was 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.

As part of the implementation of the roadmap, a significant number of measures and improvements were implemented in 2021, including:

• at the joint initiative of Moscow Exchange Group, the Bank of Russia, SROs, and trading and clearing participants, a Code of Good Conduct was developed and approved for the trading and clearing participants to which the Group provides its services. A mechanism for adherence to the Code and a hotline on the Code were implemented on Moscow Exchange’s website;
• a new Code of Professional Ethics of the Exchange (internal code of Exchange employees) was approved, in the creation of which every employee of the Exchange could take part;
• all key documents included in the Exchange’s compliance programme was completed were updates;
• the Exchange joined the Anti-Corruption Charter of Russian Business;
• the Exchange together with NAUFOR developed a typology of unfair practices;
• Moscow Exchange together with Deloitte prepared the study “AML/CFT. Survey of market participants”;
• preliminary (scenario-based) control of market anomalies was implemented for prompt implementation of measures to stabilise the market and conduct investigations;
• compliance training courses for Moscow Exchange employees were updated. Materials were brought up to date, including the use of interactive videos and animations in the training;
• a modern automated compliance risk management system was introduced.

CONFIRMATION OF THE EFFECTIVENESS OF COMPLIANCE

In 2021 Moscow Exchange was one of the first organisations in Russia to successfully pass an independent audit and receive a certificate of compliance with international standard ISO 37301:2021 “Compliance Management System”.

The certificate confirms that Moscow Exchange’s compliance with international standards on:

• anti-corruption;
• combating money laundering and the financing of terrorism;
• preventing the unlawful use of insider information and market manipulation;
• resolution of conflicts of interest;
• exercising internal control over activities of organized trading and financial platform operator;
• economic restrictions.