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Regulator and the Market Debate New Approach

20.04.2016 16:46 / CB/MIFC

The Bank of Russia held the initial meeting on the future of proportional regulation of the securities market. Securities and Commodoties Market Department invited brokers, dealers, asset managers, depositaries and SROs to take part in the debate.

Proportional regulation implies division into groups by business model and risks, with different regulations for each group. Participants discussed the criteria and limits for capital, reporting and personnel for each of the groups. Current challenges faced by the industry were also part of the agenda.

The regulator proposed forming a working group of SRO representatives to gather and analyze opinions. The primary results are expected to be made public at the June 2016 International Financial Congress in St Petersburg.

Implementation of proportional regulation is one of the points of the Financial Market Development Strategy 2016–2018. The application of this approach to securities market regulation will cut costs and make the industry more robust to regulatory and operational risks.

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