Forex Regulation Law in Russia Close to Another Debate in Parliament
- After the debacle of MMCIS, Russian lawmakers are likely to have another go at forex regulation before the end of the year, according to sources cited by Russian forex industry self-regulatory body CRFIN.
According to information published on the website of Russian foreign exchange industry self-regulatory body, CRFIN, citing the Russian “Vedomosti” newspaper, the Russian duma is preparing for the second round of discussions about the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of the foreign exchange market.
Lawmakers have expressed that their responsibility lies with protecting the interests of the population against brokers who use unfair practices against their clients. The recent MMCIS debacle is the most likely reason for the reawakening of discussions surrounding malpractices by companies imposting as proper Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers.
The Russian Duma’s Head of Financial Markets committee, Natalya Burikyna, was cited by the newspaper saying that the regulatory environment will be tough. The amended bill will be borrowing some rules from forex regulation in the U.S. and some from the industry self-regulatory body CRFIN.
While the proposed amendment to the bill is likely to lack any mention of trade repositories, Mrs. Burikyna mentions in her statement to the Vedomosti newspaper that trading will have to be registered in a trade repository in a future point in time.
The new version of the bill will include a requirement of brokers to keep a close account of all contracts and trading operations, forbidding the companies to offer select clients better trading conditions than others nor to change the contract’s conditions singlehandedly, and most interestingly doesn’t allow brokers to change the bid price without changing the ask price quotes.
At this point in time there is no clarity as to which version of the law the Russian newspaper Vedomosti obtained, so all of the information above should not be treated as a final version of the document. It is also important to note that a second reading of the forex regulation law in Russian parliament has been mentioned numerous times without any results.
Forex Magnates also reported about leaks related to discussions of the forex regulation bill, which took place last summer, with this autumn being mentioned as the time when a vote could happen.
According to information published on the website of Russian foreign exchange industry self-regulatory body, CRFIN, citing the Russian “Vedomosti” newspaper, the Russian duma is preparing for the second round of discussions about the Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term of the foreign exchange market.
Lawmakers have expressed that their responsibility lies with protecting the interests of the population against brokers who use unfair practices against their clients. The recent MMCIS debacle is the most likely reason for the reawakening of discussions surrounding malpractices by companies imposting as proper Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers.
The Russian Duma’s Head of Financial Markets committee, Natalya Burikyna, was cited by the newspaper saying that the regulatory environment will be tough. The amended bill will be borrowing some rules from forex regulation in the U.S. and some from the industry self-regulatory body CRFIN.
While the proposed amendment to the bill is likely to lack any mention of trade repositories, Mrs. Burikyna mentions in her statement to the Vedomosti newspaper that trading will have to be registered in a trade repository in a future point in time.
The new version of the bill will include a requirement of brokers to keep a close account of all contracts and trading operations, forbidding the companies to offer select clients better trading conditions than others nor to change the contract’s conditions singlehandedly, and most interestingly doesn’t allow brokers to change the bid price without changing the ask price quotes.
At this point in time there is no clarity as to which version of the law the Russian newspaper Vedomosti obtained, so all of the information above should not be treated as a final version of the document. It is also important to note that a second reading of the forex regulation law in Russian parliament has been mentioned numerous times without any results.
Forex Magnates also reported about leaks related to discussions of the forex regulation bill, which took place last summer, with this autumn being mentioned as the time when a vote could happen.