The bulk of the provisions stipulated in Russia’s Forex law are about to come into force on October 1, 2015, and the work regarding the implementation of the law and clarifying some of its aspects goes on.
On August 26, 2015, the newly established Expert Board on OTC financial instruments and the protection of rights of individual investors has had its first meeting. Representatives of the Bank of Russia, Russia’s Ministry of Finance and the Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) took part in the discussions.
The participants discussed possible amendments to the Forex law, as well as the regulations that concern the creation of a Forex self-regulatory body. Other topics included the oversight of Forex brokers by the Bank of Russia, the Ministry of Finance and the Federal Antimonopoly Service (FAS).
Expert Board on OTC financial instruments and the protection of rights of individual investors was established in June 2015 and works jointly with the Duma Committee on Financial Markets. Vadim Vinogradov and Eugene Masharov from CRFIN are among the members of the new body.
To view the official announcement about the meeting, click here.