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.
Capital One Faces Potential Enforcement Action over Savings Account Disclosures: Report
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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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.
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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.
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👉 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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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.
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👉 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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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24