Ulaanbaatar
Training regulation by Financial Regulatory Commission approved
Economy
Ulaanbaatar /MONTSAME/. The Financial Regulatory Commission (FRC) organizes a range of trainings to develop the capacity of participants; professionals working in regulatory sectors, such as: securities, insurance, and others.
Training is important, in:
- ensuring the stability of financial markets,
- protecting the interests of investors and consumers,
- developing a framework to avoid various financial risks, and
- supporting the financial sector's development.
Within the scope of the FRC’s training responsibilities, the Commission's Secretariat has formed a new 'Financial Education and Training Unit' to take overall charge of training. Moreover, a training-related regulation has been developed to support these training activities. The objectives of the regulation include:
- provision of a cohesive organization and methodology for training activities;
- standardization of the types and structure of training; and
- improvement of the abilities and skills of industry participants (by increasing training opportunities) and contributing to the Commission's strategic objectives.
The regulation covers all training-related relationships, the responsibilities of people participating in training activities, and the creation (and maintenance) of a single training database.
