Presidential Resolution PP-291 was adopted on 2 September 2023. Capital-market regulation, licensing and permitting functions were transferred from the Ministry of Economy and Finance to NAPP.
NAPP also assumed oversight of securities-trading organisers, the Central Securities Depository and corporate-governance development. A 2023–2025 roadmap covered tax incentives, minority-shareholder protection, institutional reforms and removal of excessive requirements. The resolution mandated a regulatory-sandbox channel later opened to professional participants from 38 recognised jurisdictions.
The reform consolidated supervision and established the institutional basis for foreign nominee access, investor protection and market-infrastructure modernisation.
This material is provided for general information only and does not constitute investment, legal or tax advice, or an offer or solicitation in any jurisdiction.