Federal Financial Markets Service
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| Federal Financial Markets Service | |
| Founded | 2004 |
|---|---|
| Headquarters | Moscow, Russia |
| Key People | Vladimir Milovidov, Head |
| Web site | www.fcsm.ru |
The Federal Financial Markets Service [1] (FFMS) is the federal executive body that controls and supervises activity in the Russian financial markets, including the activity of exchanges, and issues the relevant regulations. It also regulates the investment of pension savings.
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Contents |
History
The FFMS was established in accordance with President Vladimir Putin’s Decree No. 314 “On the System and Structure of Federal Executive Branch Agencies,” dated 9 March 2004. It took on the controlling and supervising functions of the former Federal Commission for the Securities Market, as well as the responsibility of the former Ministry of Labour and Social Development to control and supervise the financial markets. It also inherited the responsibility to control the activity of exchanges from the former Ministry of Antitrust Policy, and the responsibility to control and supervise pension reforms from the Ministry of Finance.
The main functions, powers and organisation of the FFMS’s activity are set out in the Russian Government Decree No. 206 “On the Federal Financial Markets Service,” dated 9 April 2004, and in the statute on the Federal Financial Markets Service of 30 June 2004, approved by the Russian Governmental Decree No. 317, dated 30 June 2004.
Products and Services
The FFSM is responsible for these activities:
- Regulating securities issuance and trading, including state registration of security issues and reports on the results of security issues and registering security prospectuses.
- Controlling and supervising the activities of issuers, professional market participants and their Self-Regulatory Organisations, joint-stock investment funds, management companies for joint-stock investment funds, unit investment funds, non-government pension funds and their Self-Regulatory Organisations, special depositaries for joint-stock investment funds, unit investment funds and non-government pension funds, managers of mortgage coverage, special depositaries for mortgage covers, non-government pension funds, the Russian Federation Pension Fund, the State management company and commodity exchanges.
- Making proposals to the Federal Government to improve existing laws and developing draft laws and other regulations.
- Promoting public understanding of the laws and their practical applications.
- Seeking to ensure that companies adhere to information disclosure obligations in accordance with Russian legislation.
- Organizing analysis of issues relating to the development of the financial markets.
Key People
- Vladimir Milovidov, head [2]
- Sergei Kharlamov, deputy head
- Bembya Khulkhachiyev, deputy head
- Elena Kuritsina, deputy head
References
- ↑ About the FFSM. Federal Financial Markets Service. Retrieved on April 24, 2008.
- ↑ Leadership. Federal Financial Markets Service. Retrieved on April 24, 2008.
