Our progress / MIFC News

10.03.2020 16:16 / The Bank of Russia

Scope of specialised depositories’ activity may be expanded: Bank of Russia’s consultation paper The Bank of Russia proposes that market participants consider the possibility of expanding the scope of specialised depositories’ activity and modifying this institute. These initiatives are aimed at reducing market participants’ and investors’ costs, increasing competition, and improving the quality of services rendered by specialised depositories.

10.03.2020 15:45 / The Bank of Russia

Number of investors in equity market doubles in 2019 In 2019, the number of brokerage and trust management (TM) clients doubled, to total 4.3 million and 341 thousand persons, respectively. The significant inflow of investors was associated with a rise in the equity market and a decrease in deposit interest rates, according to the Review of Key Indicators of Professional Securities Market Participants. Banks’ policy was also an important contributor to the expansion of the client base: banks attracted nearly one-half of the 2 million new retail clients receiving brokerage services by offering them conventional and structured bonds as an alternative to deposits.

16.01.2020 16:52 / The Bank of Russia

Bank of Russia Commission receives 555 applications for business reputation recovery The Commission reviewing complaints about the Bank of Russia’s decisions on non-compliance with qualification or business reputation requirements received 555 applications over the period of its operation, according to the data as of 1 January 2020. The Complaint Review Commission started its work on 28 January 2018. It reviews complaints from officials and major shareholders (stakeholders) of credit and non-bank financial institutions about recognising them incompliant with the applicable requirements.

29.11.2019 19:40 / The Bank of Russia

Russian joint-stock companies implement over 75% of corporate governance principles Russian exchange-traded public joint-stock companies (PJSC) demonstrate a stable trend towards the improvement of their corporate governance: in 2018, they increased the number of implemented Corporate Governance Code principles and improved the quality of reasoning behind incompliance. These results are contained in the annual Review of Corporate Governance in Russian Public Companies published on the Bank of Russia’s website.

25.10.2019 16:12 / The Bank of Russia

Self-regulation in financial market: current state and prospects The Bank of Russia has analysed the results of the work undertaken by self-regulatory organisations (SROs) of non-bank financial institutions and invites professionals and experts to discuss the prospects of self-regulation in the financial market.

14.10.2019 18:11 / The Bank of Russia

Bank of Russia to reduce regulatory burden on banks As part of its efforts to reduce the regulatory burden on market participants, the Bank of Russia is looking into the abolition and simplification of certain regulatory requirements.

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Improving regulation: new initiatives of financial market participants

27.12.2018 18:40 / The Bank of Russia

The regulator selected 14 new initiatives suggested by financial market participants for implementation in 2019 at the strategic session held at the Bank of Russia. The proposals in question are central to improving the regulation of supervised institutions. They apply to insurance market players and professional securities market participants, and concern payment system operations, issuance and listing, corporate governance, fintech and information security.

The proposed initiatives include lifting restrictions on forex transactions in the Russian financial market, optimising quarterly reporting by securities issuers, introducing performance standards and self-regulation mechanisms for payment facilitators, developing methodology for information security audit, and increasing responsibility on information security auditors.

The selected proposals from the professional community have been included in the main and reserve portfolios. The Bank of Russia implements initiatives from the main portfolio, whereas proposals from the reserve portfolio are taken into account and the feasibility of including them in the main portfolio is further assessed.

An updated portfolio and the status of initiative implementation is to be released in early 2019.

Annual strategic sessions with market participants were first held in autumn 2013. At first, the list of initiatives formulated by the market contained 233 items. Today, a number of tasks have already been accomplished. The Bank of Russia will continue to use the proven format of dialogue with the professional community.

Financial markets megaregulatorProject Group №1

10.03.2020 16:16 / The Bank of Russia

Scope of specialised depositories’ activity may be expanded: Bank of Russia’s consultation paper The Bank of Russia proposes that market participants consider the possibility of expanding the scope of specialised depositories’ activity and modifying this institute. These initiatives are aimed at reducing market participants’ and investors’ costs, increasing competition, and improving the quality of services rendered by specialised depositories.

10.03.2020 15:45 / The Bank of Russia

Number of investors in equity market doubles in 2019 In 2019, the number of brokerage and trust management (TM) clients doubled, to total 4.3 million and 341 thousand persons, respectively. The significant inflow of investors was associated with a rise in the equity market and a decrease in deposit interest rates, according to the Review of Key Indicators of Professional Securities Market Participants. Banks’ policy was also an important contributor to the expansion of the client base: banks attracted nearly one-half of the 2 million new retail clients receiving brokerage services by offering them conventional and structured bonds as an alternative to deposits.

16.01.2020 16:52 / The Bank of Russia

Bank of Russia Commission receives 555 applications for business reputation recovery The Commission reviewing complaints about the Bank of Russia’s decisions on non-compliance with qualification or business reputation requirements received 555 applications over the period of its operation, according to the data as of 1 January 2020. The Complaint Review Commission started its work on 28 January 2018. It reviews complaints from officials and major shareholders (stakeholders) of credit and non-bank financial institutions about recognising them incompliant with the applicable requirements.