About the Financial Markets Service of the Bank of Russia (Unofficial translation)
The Bank of Russia External and Public Relations Department informs that on 9 August 2013 the Board of Directors of the Bank of Russia decided to establish in the Bank of Russia the Financial Markets Service of the Bank of Russia.
On 1 September 2013 according to the Executive Order of the President of the Russian Federation of 25 July 2013 No. 645 the Federal Financial Markets Service of the Russian Federation will be abolished. In accordance with the Federal Law of 23 July 2013 No.
The Financial Markets Service of the Bank of Russia is established to fulfil the Bank of Russia functions in the field of regulation, control and supervision of financial markets.
The Board of Directors of the Bank of Russia approved the structure of the Financial Markets Service of the Bank of Russia and the Regulation governing the Service which is a structural unit of the Bank of Russia. The objectives of the Service are:
development of the financial market of the Russian Federation;
ensuring stability of the financial market of the Russian Federation, including early identification and addressing crisis situations;
analysis of the state and prospects of development of financial markets in the sphere of non-credit financial institutions;
regulation, control and supervision of non-credit financial institutions;
protection of the rights and legitimate interests of shareholders and investors in financial markets, policyholders, insured persons and beneficiaries in accordance with the insurance laws, insured persons in case of mandatory pension insurance, depositors and participants of non-state pension fund for non-state pension provision;
monitoring compliance with the requirements of the Russian legislation on combating illegal use of insider information and market manipulation.
Decisions of the Board of Directors of the Bank of Russia foresee the possibility to begin the process of signing labour contracts with employees of the Federal Financial Markets Service of the Russian Federation in order to ensure business continuity and preservation of human resources.
The reference to the Press Service is mandatory if you intend to use this material.
12.08.2013 00.00.00