Russia's Megaregulator has issued two more Forex dealer licenses – to TeleTrade and TrustForex, following the issuance of such a license to FINAM in December last year. At the same time, the Bank of Russia denied authorization to Profit Broker. The regulator did not provide any details regarding the grounds for its decision. Under the terms…
Read moreRussia's Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), which is seeking to obtain a status of Forex self-regulatory organization (SRO) from the Bank of Russia, has received feedback from the regulator regarding its internal standards projects. The Bank of Russia has reviewed the proposals and has made clarifications and recommendations regarding these.…
Read moreRepresentatives of the Bank of Russia, the body responsible for the regulation of Russia's Forex industry, and the Federal Antimonopoly Service (FAS) of the Russian Federation have discussed the different practices of Forex advertising. In an announcement following the discussions, the regulators note that, in accordance with Russia's law on advertising, companies that do not…
Read moreAs LeapRate has reported, Forex companies willing to obtain Russian Forex dealer licenses have to do so before the end of this year or stop targeting Russian investors. Many Forex companies, however, consider the deadline as too tight and practically impossible to meet. Russian Forex brokers are now seeking that the Bank of Russia extends…
Read moreThe Bank of Russia has clarified some timing issues in the Forex law, including questions concerning the deadline for obtaining a Forex broker/dealer license.
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