Earlier this week, Russia made another step in establishing the necessary structure for the proper implementation and functioning of the upcoming Forex regulation.
At a meeting of the Committee on Financial Markets of the State Duma (Duma is the lower chamber of the Russian parliament), participants agreed to establish an Expert Board on OTC financial instruments and the protection of rights of individual investors. The new body will work together with the Duma Committee on Financial Markets.
The meeting, held on June 29, 2015, saw the list of members of the new Board approved. There are two representatives from the Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), Russia’s Forex self-regulatory body.
CRFIN’s Governing Board chairman Vadim Vinogradov will assume the role of a Vice-chairman of the new Expert Board. The other representative from CRFIN to join the new body is Eugene Masharov.
To view the official announcement, click here.
To view the protocol (in Russian) from the meeting, click here.