Professional Community Proposals

The Bank of Russia cooperates with the professional community in the part of the collection and the implementation of proposals to improve the regulation of the financial market (233 KPIs).

Initially, the list consisted of 233 items was formed in the autumn of 2013 on the initiative of the Bank of Russia by the Working Group for the creation of the international financial center in the Russian Federation at the Council under the President of the Russian Federation on the development of Russian financial market under the leadership of A. Voloshin.

Proposals for the development of the Russian financial market are grouped in the following areas:

• The insurance market;
• The market of pension provision;
• Investment funds;
• Professional participants of the securities market;
• Commodity market;
• The infrastructure and Instruments;
• Emission and listing;
• Corporate governance;
• Microfinance market;
• The actuarial activities;
• Rating agencies.

At the same time proposals are ranked into categories according to their priority:

• А — important;
• В — required;
• С — appropriate;
• D — more discussion needed.

Classification of proposals is also made by the degree of their implementation:

• 1 — analysis;
• 2 — development of the proposals;
• 3 — implementation;
• 4 — getting the expected result.

To update the list of proposals an annual strategic session is held with the participation of the Bank of Russia. This format has become a platform for discussion of the priorities for the coming year by the Bank of Russia with the professional community which increases the transparency and predictability of the actions of the regulator and promotes effective interaction with financial market participants.