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Screenshot of a breaking news alert e-mail from Q2 2017
Russia’s Center for Regulation in OTC Financial Instruments and Technologies (CRFIN) today announced it is further beefing up the ranks of its Expert Board, with the newest member being Artem Yuryevich Kiryanov.
Mr. Kiryanov, born in 1977, already has significant experience in the field of economic law and in numerous Russian government and non-government institutions and organizations. Among the achievements in his track record, we should highlight his membership in the Civic Chamber of the Russian Federation, as well as his leadership of the working group on financial culture at the Civic Chamber. Mr. Kiryanov is also a chairman of the executive committee of Russia’s Union of Taxpayers and a member of the Public Council of the Federal Tax Service of Russia.
Mr. Kiryanov’s expertise is poised to be very useful for CRFIN, as one of the functions of the Expert Board is to prepare suggestions for government bodies regarding the regulation of the Forex industry. We should note, however, that the suggestions provided by all experts of CRFIN are merely by nature a set of guidelines.
Last week CRFIN’s Expert Board gained another important member, Igor Dines, who is also known for his expertise in the field of tax and budget laws. Apparently, the self-regulatory organization is preparing for its increased role once Russia finally has its Forex law, which mandates all Forex brokers in Russia should be members of a self regulatory organiation (SRO).
Meanwhile, it has become clear that there is a new version of the Forex bill which imposes restrictions on maximum leverage, demands from Forex firms to have substantial net capital and requires that FX brokers actually own the software necessary for online trading. In such a complex environment, which seems to get even more complicated with time, the role of SROs like CRFIN is growing in importance.
You can find out more about CRFIN’s expert board and its members here.