MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

MIFC Events

12.12.2013 MIFC / Moscow

Task Assignments by Prime Minister Dmitry Medvedev

17.10.2013 MIFC / Moscow

Financial Market Regulation Policy Markers Session

Events Calendar

August 2014
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Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

08.04.2013 / Interfax

Ministry for Economic Development Will Procure Long-Term Visas for Foreign Investors

The Government has granted the Ministry for Economic Development the right to apply to diplomatic missions and consulates for visas to representatives or employees major foreign companies investing in Russia as well as Skolkovo project and MIFC project participants.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

25.03.2013 / Interfax

London Remains World’s Largest Financial Center Despite LIBOR Scandal

London has retained the status of the world’s largest financial center, despite the LIBOR manipulation scandal, according to Z/Yen.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

16.08.2012 / lenta.ru

Minfin to Lend 5 Times Cheaper

Moscow International Financial Center Roadmap will make Russian loans five times cheaper by 2018, says Vedomosti newspaper quoting ministry sources.

16.08.2012 / vedomosti.ru

Minfin Drafts MIFC Roadmap

The Ministry of Finance has circulated a draft MIFC Roadmap 2015, according to a ministry source.

16.08.2012 / «Expert-Online»

Global Leadership Roadmap

Minfin has initiated the MIFC Roadmap 2015 debate, with key measures of the draft placed on the next President’s Financial Market Council session agenda.

09.11.2011 / «Kommersant-Online»

Tax Relief Promised to Investors

The Federal Financial Markets Service (FFMS) is set on abolishing sales tax on securities owned by investors for 3-plus years. The idea has been voiced before, but failed to gain support from the Ministry of Finance.

19.10.2011 / Vedomosti

Ministry of Finance Ready to Soften Tax Consolidation

Officials and deputies have no time to improve the new transfer prices control regulations before they come into effect in 2012. However, they promise to pass the act, which allows holding companies to pay consolidated income tax. Not a few, but several dozen companies will be able to use this opportunity.

12.10.2011 / Interfax

No Investor In His Own Land

In the past two years the Government plan for the International Financial Centre formation was implemented. It`s too early to evaluate the results of this effort, but as for the internal market development it can be surely said that no progress has been made. Such is the common opinion of the members of the National Association of Stock Market Participants (NAUFOR) at "Russian stock exchange market" conference in Ekaterinburg.

10.10.2011 / gazeta.ru

Investors Promised Trillion Plus Kudrin. Dmitry Medvedev’s first time in public with Alexei Kudrin.

Dmitry Medvedev has chaired a meeting with Alexei Kudrin, the first one since Kudrin stepped down. The IFC project will not be hindered by neither the European crisis, nor the elections in Russia, stated the President: the Central Bank will fuel banks with a trillion roubles if necessary, while institutional changes include a Central Depositary and new IPO rules for Russia.

10.10.2011 / Izvestia

Moscow’s Own IFC Criteria

Russian government wants to promote Moscow as an international financial center (IFC). This requires a scale of criteria, similar to the existing Western analogues, but drawing on local specifics, left out of the picture in Western reports.

29.09.2011 / «Kommersant-Online»

Moscow is #61 in The Global Financial Centres Index (GFCI 10).

Russian capital is #61 in The Global Financial Centres Index, according to a consultancy company Z/Yen Group. The leaders are London, New York and Hong Kong. Moscow is not a very high entry (there are only 75 participants) but the position can be called a relative achievement versus last research’s #68.

29.09.2011 / gazeta.ru

Moscow is #61 out of 75 cities in The Global Financial Centres Index (GFCI 10).

Moscow is #61 out of 75 international financial centres, according to the research by consultancy company Z/Yen Group. The idea of creating an international financial centre in Moscow (MIFC) was proposed by the president Dmitry Medvedev during the St. Petersburg International Economic Forum two years ago.

05.09.2011 / «Kommersant-Online»

MIFC Boosts Shareholder Rights

The MIFC Taskforce, headed by Alexander Voloshin, has proposed a right for shareholders to disclose confidential business information to protect their rights, e.g. in court. They also propose introducing criteria for ‘controlled entities’ and holding the head company responsible for their non-disclosure.

03.08.2011 / Kommersant

Fast Lane Civil Code Amendment. Ministry for Economic Development and Presidential Legal Directorate proceed before general Civil Code reform is agreed upon.

As a result of hearings at the Ministry for Economic Development on August 2, which were devoted to draft amendments to the Civil Code, the Ministry informed that the State Duma may consider its own draft amendment to the CC in Autumn 2011, and does not support the initiatives of The Russian President’s Codification Council. According to Kommersant, all the parties, except the Council, are considering the general version of the CC amendments by the Presidential Legal Directorate (PLD).

26.07.2011 / Kommersant

Civil Code Under Triple Siege. The President’s lawyers share their opinion on the amendments.

The Presidential State Legal Consultancy (SLC) has come up with a third edition of Civil Code amendments.

Our Progress / MIFC Events

MIFC Events

The Moscow International Urban Forum "Global Solutions for Russian Cities"

08.12.2011 - 09.12.2011 / Moscow Urban Forum / Moscow, Swissotel Krasnye Holmy Moscow

The Moscow International Urban Forum "Global Solutions for Russian Cities" will serve as a global communications platform for an open dialogue among representatives of the government, the managers of architectural and urban planning bureaus, development and construction companies, as well as leading foreign and Russian experts on urban planning.

The mission of the forum is to overcome the global lack of competitiveness among Russian cities in the post-Soviet urban space.

07.07.2014 / MIFC / Moscow

MIFC UK-Russia Joint Liaison Group Meets 7 July A new meeting of the MIFC UK-Russia Joint Liaison Group is due to take place on 7 July in Moscow.

05.05.2014 / MIFC / Moscow

Putin Signs National Payment Card System Bill President Putin has signed the federal National Payment Card (NSPK) bill, says the Kremlin press office.

27.03.2014 / MIFC / Moscow

The fifth annual Exchange Forum The Exchange Forum is Russia`s largest annual conference for financial market professionals, regulators, and government officials, bringing together up to 1,000 delegates. The forum defines the direction of Russia`s financial market and infrastructure development for the next several years.

03.03.2014 / CB/MIFC / Moscow

Central Bank Financial Markets Service Dissolved In accordance with the Bank of Russia-based megaregulator launch plan, (and per Bank of Russia Board of Directors decision of 29 November 2013) the Bank of Russia Financial Markets Service (BRFMS) is officially dissolved as of 3 March 2014.

25.02.2014 / MIFC / Moscow

State Duma Passes Amendments on Facsimile Signatures for the Visually Handicapped On Tuesday, the State Duma passed the Government bill allowing the visually handicapped to use facsimile signatures in cash transactions.

20.02.2014 / MIFC / Moscow

Russian Government Passes Bullion Trading Regulation Bills Tax Code Parts 1 and 2 and other statutory amendments have been drafted by the Ministry of Finance as part of MIFC Roadmap effort. The bills provide equal staturtory rights for bullion trading in accordance with Russian banks and banking law.

07.02.2014 / MIFC/Moscow exchange / Moscow

Russian Financial Markets Regulator Registers New MOEX Listing Rules On 7 February 2014, the Bank of Russia’s Financial Markets Service registered an amended version of Listing Rules for Moscow Exchange. As part of Russia’s listing reform program, the rules have been brought in line with the Rules for Admission of Securities to Organized Trading previously approved by the regulator.

17.01.2014 / CBFMS/MIFC / Moscow

Implementation of e-comms in the Russian financial market On 17 January 2014, Moscow International Financial Center Taskforce hosted a meeting on Electronic Communications with First Deputy Chairman of the Bank of Russia, Head of Financial Markets Service Sergey Shvetsov and financial market participants.

12.12.2013 / MIFC / Moscow

Task Assignments by Prime Minister Dmitry Medvedev Russian Prime Minister Dmitry Medvedev releases a number of task assignments following the Moscow International Financial Center session on 28 November 2011

09.12.2013 / MIFC / London

6th Meeting MIFC UK-Russia Joint Liaison Group, The Mansion House, Walbrook, London The meeting will be co-chaired by Head of MIFC Taskforce Alexander Voloshin and the Lord Mayor of the City of London Fiona Woolf.

28.11.2013 / MIFC / Moscow

MIFC Meeting hosted by Prime Minister Dmitry Medvedev The agenda featured discussions of the International Financial Center Roadmap. Participants will debate the outlook for Russian financial market development, megaregulator KPIs, the role of SROs in the financial market, tax incentives for investors, and improved tax administration of financial transactions.

12.11.2013 / MIFC / Moscow

Russian-British Seminar on Microfinance and Credit Unions On 12 November 2013, the Bank of Russia Financial Markets Service headquarters hosted the Russian-British seminar on Microfinance and Credit Unions by MIFC Taskforce and TheCityUK.

23.10.2013 / MIFC / Moscow

Second Moscow International Foreign Investment Forum “MOSCOW AS AN INTERNATIONAL FINANCIAL CENTER” CONFERENCE. Moscow’s competitive position compared to other world megapolises.

17.10.2013 / MIFC / Moscow

Financial Market Regulation Policy Markers Session The event features discussions on market development priorities, improved regulation and customer rights protection in financial services. Speakers include Head of the Bank of Russia Financial Markets Service Sergey Shvetsov, market participants and experts.

20.06.2013 / International Economic Forum / Sankt-Peterburg

UNDERPINNING RUSSIA’S FINANCING ASPIRATIONS In order for Russia to reach its potential as an international financial centre, it needs to build the institutional investor base that comes with mature insurance and pension investment systems. What are the practical steps and timelines for developing Russia’s institutional investment infrastructure?

28.05.2013 / MIFC / Moscow

MIFC UK-Russia Joint Liaison Group Holds 5th Meeting Moscow hosted a fifth meeting by the MIFC UK-Russia Joint Liaison Group. The meeting was co-chaired by Head of MIFC Taskforce Alexander Voloshin and the Lord Mayor of the City of London Alderman Roger Gifford. The sides debated topical Liaison Group issues such as derivatives market development, securities operations and wider public-private partnership (PPP) implementation. The agenda included improvements to legislation and administration; education, training and certification of licensed financial market participants. Deputy Chairman of the Bank of Russia Sergey Shvetsov briefed the British partners on the megaregulator progress.

01.04.2013 / MIFC / Moscow

Central Depositary nominee account at registrars is opened/existing NSD account status upgraded. Authorized transfer of securities to the NSD Central Depositary nominee account begins

08.01.2013 / MIFC / Moscow

National Settlement Depositary assumes DVP settlement functions from DCC

11.12.2012 / TheCityUK / London

Moscow International Financial Centre Joint Liaison Group Meeting The meeting brought together Russian and British officials and top executives from banks, exchanges, clearing houses and corporations. The meeting was co-chaired by Lord Mayor of the City of London Alderman Roger Gifford and Head of MIFC Taskforce Alexander Voloshin.

08.11.2012 / ISMM / Moscow

12th All-Russian Stock Market Conference Key debate will focus on the continuing global economic crisis and outlook for the Russian financial sector in global financial volatility, Russian capital market infrastructure reform, new industry regulations.

06.11.2012 / MIFC / Moscow

National Settlement Depositary acquires Russian Central Depositary status

24.10.2012 / MIFC / Moscow

Meeting chaired by Russian Prime Minister Dmitry Medvedev On October 24, 2012, Prime Minister Dmitry Medvedev will chair a meeting to discuss investment climate improvement mechanisms, Moscow International Financial Center (MIFC) roadmap and financial markets regulation and oversight reform.

20.06.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

16.05.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

02.05.2012 / TheCityUK / London

Moscow International Financial Centre - Alternative Dispute Resolution Conference This conference will bring together leading practitioners and other interested parties to discuss the Interim Report of the Alternative Dispute Resolution (ADR) work-stream of TheCityUK’s UK-Russia Liaison Group on Moscow as an International Financial Centre (MIFC).

25.04.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

18.04.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

11.04.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

28.03.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

16.03.2012 - 17.03.2012 / MIFC / Moscow / Digital October

Moscow International Financial Center Strategic Session The Strategic Session will set priorities for the development of an international financial center in Moscow (MIFC). The event will draw major economic experts, heads of leading Russian and international financial companies and government officials who will together produce a detailed roadmap of the project.

14.03.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

29.02.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

15.02.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

08.02.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

01.02.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

25.01.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

18.01.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

11.01.2012 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

15.12.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

14.12.2011 / MIFC / London

2nd Russo-British MIFC Group Session The second Russo-British MIFC Group Session is scheduled for 14 December in London.

08.12.2011 - 09.12.2011 / Moscow Urban Forum / Moscow, Swissotel Krasnye Holmy Moscow

The Moscow International Urban Forum "Global Solutions for Russian Cities" The Moscow International Urban Forum "Global Solutions for Russian Cities" will serve as a global communications platform for an open dialogue among representatives of the government, the managers of architectural and urban planning bureaus, development and construction companies, as well as leading foreign and Russian experts on urban planning.

07.12.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

30.11.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

23.11.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

17.11.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

09.11.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

02.11.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

28.10.2011 / MIFC / Moscow

International Advisory Board for the International Financial Center in Russia Session The session will take place at the Sberbank headquarters. President Dmitry Medvedev is expected to be present, as last time.

26.10.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

19.10.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

11.10.2011 / MIFC / Moscow

Project Group 1 (Financial infrastructure and financial market regulation) Session (in Russian)

05.10.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

28.09.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

21.09.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

14.09.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

07.09.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

25.08.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

02.08.2011 / Ministry for Economic Development / Moscow, 1st Tverskaya Yamskaya Street, 1,3, Collegiate Hall

Public Debate on the Civil Code Amendments by the Codification Council The debate will focus on the feedback that the bill receives from lawyers and businessmen, in order to highlight the most controversial issues and selecting the most productive ideas for implementation in the Civil Code.

21.07.2011 / MIFC / Moscow

Project Groups 1 and 2 Session (in Russian)

14.07.2011 / MIFC / Moscow

Project Group 2 (Corporate Governance and Taxation) Session (in Russian)

27.06.2011 - 28.06.2011 / Renaissance Capital / Moscow, Expocentre Exhibition Complex

15th Annual Investor Conference Global economic trends are putting Russia in the spotlight, and this year’s conference delves into the diversity and wealth of investment opportunity in the country. Panel discussions, featuring leading economists, politicians and CEOs, will navigate between the broader picture and the booming agriculture, oil and gas, and metals and mining sectors.

27.06.2011 / Vnesheconombank / Moscow

Russian-British group meeting regarding the creation of the International Financial Centre in Moscow The meeting is directed to the representatives of the leading Russian, British and international organizations involved in promotion of the International Financial Centre in Russia.

18.06.2011 / International Economic Forum / Sankt-Peterburg

Meeting of the International Advisory Board members with the President of the Russian Federation. The board’s current activities and plans for the coming year were discussed at the meeting, which was held on the sidelines of St Petersburg International Economic Forum.

17.06.2011 / International Economic Forum / Sankt-Peterburg

MIFC FOUNDATION. CIS/EURASIAN ECONOMIC COMMUNITY/EEC CUSTOMS UNION COOPERATION. In cooperation with VTB Capital and MICEX Group. The creation of an International financial centre in Moscow implies becoming a significant regional financial hub for the CIS countries. The main objectives are analysis of current agreements on the Common Free Market Zone and regulatory structure for the CIS/Eurasian Economic Community, as well as finding ways of effective collaboration on the financial markets and within banking sector in general.

07.06.2011 - 08.06.2011 / IIR Ltd / Moscow, Baltchug Kempinski

The 8th Annual Russian Securities Forum “Infrastructural and strategic opportunities in the emerging markets”

13.05.2011 / NAUFOR / Moscow, Baltchug Kempinski

NAUFOR Annual Conference “Russian Stock Market 2001: The Challenges Remain the Same” FSCM has decided to cancel plans to raise the minimum proprietary capital limit for brokers, trust managers and depositaries, said Deputy Head of FCSM Sergey Kharlamov at the NAUFOR Conference.

13.04.2011 - 14.04.2011 / Vedomosti-Conferences / Москва, Марриотт Роял Аврора

Юридический форум России. VII ежегодный деловой форум Key businessmen and lawyers discussed legal issues faced by the business, the government role in creating a comfortable environment for business.