ArmInfo. Armenia may become the fourth country to join the "Agreement on the exchange of information, including confidential information, in the financial sphere in order to create conditions in financial markets to ensure free movement of capital." Today the parties to the Agreement are Russia, Belarus and Kazakhstan.
As the Deputy Chairman of the Central Bank of the Republic of Armenia Vakhtang Abrahamyan noted at the sitting of the Standing Committee of the National Assembly on Regional and Eurasian Integration Issues on September 8, the Agreement lays the foundations for informational cooperation of financial regulators of the Union countries. In the case of Russia, Kazakhstan and Armenia (subject to the ratification of the document), the Central Banks act as the regulator; Belarus has the Ministry of Finance. Obtaining relevant information is carried out on the basis of clear regulations, and information leakage implies responsibility. According to Abrahamyan, the ratification of the document will put the process of exchange of confidential information on a stronger legal basis.
For his part, the head of the Commission Mikael Melkumyan noted that Armenia must, without fail, ratify the Agreement, which will contribute to the continuation of the integration processes in full. According to him, the draft document ratification will be presented at the next plenary session of the National Assembly. We add that, according to the Agreement, authorized bodies exchange information, including confidential information, taking into account the requirements established by the legislation of the Member States for the procedure for its use and distribution. "Confidential information" is information that comes to the authorized body of a member state, is at its disposal within the framework of the exercise of its powers, is not a state or other secret (state secret) equated to it by the legislation of the member state. At the same time, access to it is limited and it is considered confidential in accordance with the legislation of the Member State. In accordance with the legislation of the member states, the authorized bodies will carry out mutual consultations and exchange of views on a number of issues within their competence (authority) in the field of the financial market. This applies, in particular, to the development of systems for the protection of the rights and interests of consumers of financial services and investors, including the issues of guaranteeing deposits, insurance payments, as well as the exchange of information on the law enforcement practice of the Member States.