Following issues have been discussed and resolved on the regular session of the FRC on December 07, 2011:

One. On securities:

• Regional Bonds for Sukhbaatar Province have been registered.
• A “Regulation on cumulative approach in voting” has been approved

Two. On Insurance:

Following issues have been discussed and resolved on the regular session of the FRC on December 23, 2011:

One. On securities:

• “UGS” LLC has been licensed to provideinvestment counseling activities additionally.
• “Baruun busiin tsahilgaan damjuulah suljee” joint-stock company has made changes to its securities.
• “Erdenet Huns” joint-stock company has been allowed to buy-out its other stockholder’s shares.
• “Tsagduultai” joint-stock company, “Ereentsav” joint-stock companies securities tradings has been restored
• “ACE and T capital” LLC;s licensing to provide broker, dealer, activities has been extended for a period of three years.

Two. On Insurance:

• Mr. B.Munkhbaatar has been appointed as an executive director if Compulsory insurance association.

• “Soyombo Daatgal ” LLC, “ Mongol Daatgal” LLC, “Monre Daatgal” LLC, “Bodi Daatgal” LLC, “Monnis Daatgal” LLc, “Tenger Datgal” LLC, “Ard Daatgal” LLC have been each licences to providedriver’s liability insurance services.
• “Mongol Daatgal” LLC has been granted a permission to increase its amount of paid-in capital
• “Bodi Daatgal” LLC’s regional representative in Orkhon province Ts. Demchigjav’s and regional representative in Uvs province B.Baldorj’s licensing have beeneach revoked.

Three. On micro-finance:

• A regulation on electronic non-banking services has been approved.
• “Buren tugrug” LLC, “Standard finance” LLC have been each licensed to provide non-banking financial services, “GA and UL NBFI” LLC have been additionally licensed t provide non-banking loan services.
• “Khas Chandmani” cooperative’s licensing to provide credit and loan services has been suspended, “ Zoonooi Khishgee” SCC’s activities have been extended.

Four. On Risk evaluation, research, financial New Products:

• According to the resolution 142 by the FRC, the auditing regulations have been amended

ADMINISTRATION DEPARTMENT