Russian Forex Dealers Will Require Broker Certification
- The Coordination Council of the Bank of Russia has decided to extend certification requirements on forex dealers.
Representatives from the Russian self-regulatory nonprofit organization "Centre for 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 in OTC Financial Instruments and Technologies," commonly known as the CRFIN, yesterday took part in a meeting of the Coordination Council for certification of specialists in the financial market, which was held at the Central Bank of the Russian Federation. Following the meeting, it was decided to extend the requirement for a Series 1.0 broker certificate on 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 dealers, as well as to update training programs and specialist certification.
Discussions focused on unifying the qualification requirements established by the legislation. The Certification Series 1.0 is required for Russian financial market professionals engaged in brokerage, dealer activities and securities management.
Preparation for the certification series 1.0 exam includes the compulsory theoretical chapter as well as practical skills taught by financial market experts. Moreover, the qualifying costs are quite high - the average price of a preparatory course is 20,000 rubles ($395), while the examination costs are 3,000 rubles ($60).
The syllabus and the exam cover a wide range of topics: the concept of a broker, dealer activities, securities management, professional securities, market participants, dealer and security activities, legal requirements, taxation, derivatives and more.
Representatives from the Russian self-regulatory nonprofit organization "Centre for 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 in OTC Financial Instruments and Technologies," commonly known as the CRFIN, yesterday took part in a meeting of the Coordination Council for certification of specialists in the financial market, which was held at the Central Bank of the Russian Federation. Following the meeting, it was decided to extend the requirement for a Series 1.0 broker certificate on 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 dealers, as well as to update training programs and specialist certification.
Discussions focused on unifying the qualification requirements established by the legislation. The Certification Series 1.0 is required for Russian financial market professionals engaged in brokerage, dealer activities and securities management.
Preparation for the certification series 1.0 exam includes the compulsory theoretical chapter as well as practical skills taught by financial market experts. Moreover, the qualifying costs are quite high - the average price of a preparatory course is 20,000 rubles ($395), while the examination costs are 3,000 rubles ($60).
The syllabus and the exam cover a wide range of topics: the concept of a broker, dealer activities, securities management, professional securities, market participants, dealer and security activities, legal requirements, taxation, derivatives and more.