05.07.2022 18:55 / TASS
The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.
05.07.2022 18:51 / TASS
The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.
05.07.2022 18:41 / TASS
Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.
17.05.2022 16:18 / TASS
Central Bank to launch cybersecurity education course The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.
19.04.2022 16:49 / The Bank of Russia
Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.
15.04.2022 16:36 / TASS
The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.
Bank of Russia develops requirements for basic standards for SRO investment advisers
28.03.2019 18:24 / TASS
The document stipulates that SROs are obliged to develop two basic standards. The first concerns protecting the rights and interests of those who use the services of investment advisers. It should outline the minimum amount of information and the procedure for its provision by investment advisers, the rules governing the interaction between investment advisers and financial consumers, the requirements for employees of investment advisers that have direct interaction with clients, the process of executing the right of a client that has received a consultation to a pre-trial (extrajudicial) dispute resolution procedure, and how SROs will monitor the implementation of the basic standard by their members.
The second basic standard should establish the following list of operations investment advisers undertake, which are to be standardised: the provision of individual investment recommendations, the estimation of the client’s investment profile, and the appraisal of the suitability of the client’s investment portfolio with regards to its investment profile (monitoring the client’s portfolio).
All financial institutions that provide investment advice, whether or not they are members of a self-regulatory organisation, are obliged to comply with the basic standards prepared by SROs.
All suggestions and comments regarding the document will be accepted until 11 April 2019.