Tag: russian forex regulation

March 15, 2016 BY Maria Nikolova

Bank of Russia reviews internal standards projects of Forex organization CRFIN

Russia'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.…

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January 26, 2016 BY Maria Nikolova

Bank of Russia gets tough on Forex advertising

Representatives 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…

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January 21, 2016 BY Maria Nikolova

Russia's CRFIN reviews 248 enquiries regarding Forex companies in 2015

Russia's Centre for Regulation of OTC Financial Instruments and Technologies (CRFIN) today published a report regarding the activity of its Disciplinary Commission for 2015. For the entire 2015, the Commission reviewed a total of 248 enquiries regarding Forex companies. Nearly half of these (48%) concerned members of the organization, with 10% of these used by…

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December 15, 2015 BY Maria Nikolova

Tighter rules loom for Russian Forex companies

Many Russian Forex market participants have been displeased with the current version of the Russian Forex law, including restrictions on maximum leverage and tight deadlines for obtaining a Forex dealer license. And yet, all these requirements may seem quite loose if we consider the demands of the Bank of Russia stated in a letter to…

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December 15, 2015 BY Maria Nikolova

Bank of Russia grants first Forex dealer license to FINAM Forex

The Bank of Russia today announced the award of the first ever Forex dealer license in Russia, with the recipient being FINAM Forex, the company which first applied for the coveted authorization about a month ago. Given that the regulator has up to 60 days to review the applications for Forex dealer licenses, we can safely…

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December 10, 2015 BY Maria Nikolova

TeleTrade applies for Russian Forex dealer license

Retail Forex broker TeleTrade has joined the line of companies applying for a Russian Forex dealer license. The company announced on Wednesday that it has filed the necessary documents and that it hopes to get the license sometime in the first quarter of 2016. The Bank of Russia has 60 business days to review the…

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December 08, 2015 BY Maria Nikolova

Forex Club applies for Russian Forex dealer license

Retail Forex and CFD broker Forex Club today announced that it has submitted an application to obtain a license as a Russian Forex dealer – the official designation for a company providing Forex trading services in Russia. The company said it filed the necessary papers with the Central Bank of Russia on Monday, December 7th.…

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November 26, 2015 BY Maria Nikolova

Russia's Ministry of Finance voices skepticism regarding extension of Forex licensing period

Russia's Deputy Finance Minister Alexei Moiseev has struck a skeptical note regarding the possible delay in the implementation of certain clauses of the Russian Forex law, including the extension of the “grace period” for Forex licensing. Under the current legislation, Forex brokers that wish to offer their services to Russian residents should obtain Forex dealer…

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November 26, 2015 BY Maria Nikolova

Russia's KROUFR blacklists online investment project Alfareserve

Russia’s Commission for the regulation of relations in the financial market (KROUFR) earlier today added one more company to its “Black List”. The new entry is Alfareserve, a company offering various investment plans, with KROUFR noting that the company is pledging artificially high and guaranteed returns. The lack of any licenses is also mentioned as…

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