Russia’s CRFIN invites Forex companies to submit questions about licensing

A brief announcement that would be of interest to Forex companies that want to obtain licenses of Forex dealers in Russia…

The Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) is planning a meeting with representatives of the Bank of Russia, the regulator responsible for the oversight of Russia’s Forex industry. The meeting will focus on getting ready all of the documents necessary for applying for a Forex dealer license.

In case a Forex company is interested in getting such a license, it can submit its questions to [email protected]. Submissions are accepted until 12.00 (Moscow time) on November 19, 2015.

The organization promises to publish a summary of the outcome of the meeting on its website.

Forex brokers willing to target Russian residents have to obtain Forex dealer licenses by the end of this year or cease their offering in the Russian market. Many consider the timing as too rigid and push for postponing the deadline. In the meantime, others have filed their documents with the Bank of Russia. FINAM has become the first Forex company to officially apply for a Forex dealer license in Russia.

To view the CRFIN announcement, click here.

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