SCMN

The Securities and Exchange Commission of Montenegro (SCMN), also known as Komisija za hartije od vrijednosti Crne Gore, is the primary regulatory authority overseeing the securities market in Montenegro. Established in 2004, the SCMN has played a vital role in ensuring the stability, transparency, and integrity of the country’s securities market.

SCMN History

The SCMN was established in 2004 under the Capital Market Law, which aimed to create a strong regulatory framework for the country’s securities market. Since its inception, the SCMN has been committed to fostering a stable, transparent, and efficient securities market that promotes economic growth and investor protection in Montenegro.

SCMN Scope and Supervision

The primary objective of the SCMN is to maintain the stability and integrity of the securities market in Montenegro. Its wide-ranging responsibilities include:

1. Licensing and regulating securities market participants: The SCMN oversees various securities market participants, such as investment firms, asset management companies, and broker-dealer firms, ensuring they adhere to strict regulations and maintain market stability.
2. Supervising the securities market: The SCMN is responsible for regulating and supervising the securities market in Montenegro, ensuring proper disclosure, transparency, and fair trading practices.
3. Implementing anti-money laundering and counter-terrorism financing measures: The SCMN enforces compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations to maintain the integrity of the securities market.
4. Protecting consumers and investors: The SCMN works to safeguard the interests of consumers and investors by enforcing regulations, promoting transparency, and raising awareness of potential risks.

SCMN Investor Compensation Guarantees

While Montenegro does not have a specific investor compensation scheme, the SCMN enforces strict regulations and guidelines to protect investors in the securities market. The SCMN’s commitment to maintaining the integrity and stability of the market serves as an indirect safeguard for investors participating in the securities market.

Organization Type

The SCMN is an independent regulatory authority operating under the jurisdiction of the Government of Montenegro. Its independent status allows the SCMN to make impartial decisions in the best interest of the securities market and investors. The SCMN is governed by a board of commissioners, which is responsible for setting the strategic direction and ensuring effective oversight of the organization’s operations. The day-to-day operations of the SCMN are managed by its Chairman, who is supported by a team of specialists and experts.