The latest version of the Russian forex regulation bill was passed in the Russian Duma on its second reading officially making the bill into a law, pending final due diligence in a formal read in the Federal council.
The Russian parliament has just passed the first Russian Forex regulation bill on the second reading turning it into law. It is now official - Russia is on track on becoming a fully regulated market ensuring the protection of clients of OTC foreign exchange services and if not preventing, dramatically reducing the number of customers falling victims to questionable entities targeting the Russian market.
For the first time ever, the official business of forex dealers in Russia has been legally defined. According to the law, the services provided by forex dealers may only be provided by companies which are not banks or typical brokerages dealing with securities.
As promised, the regulatory environment is on the tough side with the Leverage ratio set between 1:50 to 1:100. The Governor of the Central Bank, Elvira Nabiullina, has recently clarified that the bill has borrowed some provisions from US and Japanese regulatory environments.
The other major point worth mentioning is that CFD trading has not been included into the bill in any form, so forex dealers who are offering OTC foreign exchange trading to their customers will have to limit themselves with that. With the structure of the law providing flexibility this requirement can easily be changed in the future.
The document already defines providers of OTC foreign exchange services as delivering derivatives contracts, or in legal layman terms they are CFD providers, but are only allowed at this point in time to price the instruments which they are offering based on foreign exchange rates.
The minimum capital requirement to get regulated in Russia is $1.85 million (RUB 100 million). However, if a brokerage’s clients holdings total more than $2.7 million (RUB150 million), the capital requirement grows by 5% of the client deposits sum above the RUB 150 million threshold.
A self-regulatory organization (SRO) of forex dealers is at the center of the Russian forex regulation law. An investor compensation scheme is being set up to reimburse investors in the case of bankruptcy of any of the members of the SRO. The members of the SRO will have to deposit about $40,000 dollars into the investor compensation fund separately for any charges related to licensing.
The Russian parliament has just passed the first Russian Forex regulation bill on the second reading turning it into law. It is now official - Russia is on track on becoming a fully regulated market ensuring the protection of clients of OTC foreign exchange services and if not preventing, dramatically reducing the number of customers falling victims to questionable entities targeting the Russian market.
For the first time ever, the official business of forex dealers in Russia has been legally defined. According to the law, the services provided by forex dealers may only be provided by companies which are not banks or typical brokerages dealing with securities.
As promised, the regulatory environment is on the tough side with the Leverage ratio set between 1:50 to 1:100. The Governor of the Central Bank, Elvira Nabiullina, has recently clarified that the bill has borrowed some provisions from US and Japanese regulatory environments.
The other major point worth mentioning is that CFD trading has not been included into the bill in any form, so forex dealers who are offering OTC foreign exchange trading to their customers will have to limit themselves with that. With the structure of the law providing flexibility this requirement can easily be changed in the future.
The document already defines providers of OTC foreign exchange services as delivering derivatives contracts, or in legal layman terms they are CFD providers, but are only allowed at this point in time to price the instruments which they are offering based on foreign exchange rates.
The minimum capital requirement to get regulated in Russia is $1.85 million (RUB 100 million). However, if a brokerage’s clients holdings total more than $2.7 million (RUB150 million), the capital requirement grows by 5% of the client deposits sum above the RUB 150 million threshold.
A self-regulatory organization (SRO) of forex dealers is at the center of the Russian forex regulation law. An investor compensation scheme is being set up to reimburse investors in the case of bankruptcy of any of the members of the SRO. The members of the SRO will have to deposit about $40,000 dollars into the investor compensation fund separately for any charges related to licensing.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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