The Council of Financial Market Development was established by the Minister of Finance in 2006 as a consultative and advisory body on financial market issues.
The establishment of the Council answers the postulate of the participation of the wider society in consultations on financial market policy. A created forum of opinion exchange reinforced the participation of financial institutions in establishing a legal framework. It also allowed the presentation of a unified view on the European forum. The new formula requires the consultation of professionals working within groups and teams developing issues that are vital to the work of the Council.
The Council of Financial Market Development is under the supervision of the minister responsible for financial institutions in order to help him introducing an effective development policy in the financial market.
Membership of the Council, because of the nature of this forum and its representativeness, includes representatives of financial market participants, including institutions supervising the market. The Minister of Finance or designated Secretary of State directs the work of the Council. Other people, with the rights of members and experts have been invited to work within the Council. To develop specific issues, the President of the Council may appoint panels and working teams of specialists, specialising in issues which are to be analysed.
