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.
30% currency purchase commission does not apply to closing margin positions, says Central Bank
03.03.2022 18:11 / TASS
Earlier, the Central Bank of the Russian Federation introduced a commission of 30% for individuals when buying a dollar, euro or British pound on the stock exchange. According to the regulator, the commission charged by brokers from individuals when buying currency on the stock exchange levels the competition between banks and brokers, the press service of the Bank of Russia said in response to a request from TASS.
If customers close a short (short position) in these currencies on their account, the 30% commission for the purchase will not be debited.
At the same time, the volume of instructions, which are not subject to the requirement of the Central Bank's order, cannot exceed the absolute value of the negative planned position for the corresponding foreign currency by an amount greater than necessary to close the specified position, taking into account the value of the minimum lot for transactions with the specified currency, follows from instructions of the Central Bank, which TASS got acquainted with. Commission requirements do not apply to operations for the forced closing of uncovered positions of individual clients.
As a source in the financial market told the agency, with the introduction of this commission some brokers may limit buying three currencies in their applications. At the same time, if this function is not available in the application, it remains possible to buy currency through a trader by phone, the broker’s processing officer will also inform about the commission, so that the client may clearly understand the terms of the transaction.
VTB My Investments also reminded that in connection with the announced US sanctions against VTB Bank, customers need to independently close long margin positions in foreign securities, as well as in foreign currency. "From February 25, 2022, the bank excluded foreign securities from the list of margin securities - this could lead to the forced closing of long margin positions. Short margin positions will also be forcibly closed by the bank," they added, noting that commissions for closing positions in foreign currency will not be charged in this case.