Compliance

One of the key areas of work in 2020 in the Group was the development of a corporate compliance culture and the development of unified approaches to compliance risk management. A significant number of changes and innovations were implemented, including

• a unified portal for employees of the Group’s companies to report compliance risks, allowing them to submit an application and receive feedback on the application in a completely anonymous mode;
• a portal was created on the official website of Moscow Exchange, describing the key approaches of Moscow Exchange to compliance issues, as well as providing an opportunity for external parties to send an anonymous request to the unified compliance information portal;
• the Group launched the Institute of Compliance Assistants;
• channels for communicating compliance matters to employees have been expanded.

COMPLIANCE ROADMAP 2024

A detailed Compliance Roadmap to 2024 has been 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.

According to the roadmap, among other things, in the next few years the Group’s focus in compliance will be on strengthening procedures and automating compliance risk management processes, confirming its high level in compliance risk management by pursuing ISO 19600 certification, and creating unique compliance technology for market participants.

“Compliance for the market” is highlighted by the Group as a separate, important area of compliance responsibility, which was implemented in 2020 through external activities, including:

• organising a working group under the Exchange Council to create a code of good conduct for trading and clearing members, bringing together representatives of trading and clearing companies;
• Participation of the Group’s experts in events and working groups of self-regulatory organisations in the financial market (including in creating approaches to unfair practices), the National Research University Higher School of Economics, various associations, including the Association of Business Ethics, Compliance and CSR.

CODE OF ETHICS

We believe that the culture of Moscow Exchange is shaped by every member of MOEX’s team. Therefore, when we launched the creation of a new code of professional ethics at Moscow Exchange in 2020, it was crucial for us to give any employee who wished a say in the new code or participate in its drafting. We circulated a draft document to employees, held public discussions, received and processed dozens of comments and concluded the process with a general vote of Exchange staff in favour of the new code.

The Exchange’s new code of ethics is expected to be approved in the first quarter of 2021. It will cover all the most current and important topics, including ESG and respect for differences, and will be a guide for current and new Exchange employees to MOEX’s ethical principles and help them make day-to-day decisions.