Bank of Russia updates requirements for officials of trade organisers and clearing houses
The Bank of Russia Ordinance establishes eligibility criteria for executives and officials of clearing houses and trade organisers as regards their professional experience and qualification to supersede the requirements approved by the order of the Federal Financial Markets Service in 2012.
In particular, they should have relevant work experience gained in financial institutions, as well as professional education. The eligibility criteria for executives and officials of commodity trading systems have been set taking into consideration the specifics of their activities.
The document becomes effective from 30 September 2023. The new eligibility criteria will be applicable to persons holding posts in clearing houses and trade organisers as of the effective date of the Ordinance after three years.