Russian Federation: Report on the Observance of Standards and Codes-IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, July 13, 2016
Source details
- Canonical URL
- Russian Federation: Report on the Observance of Standards and Codes-IOSCO Objectives and Principles of Securities Regulation
Other formats
Bibliographic details
- Published: July 13, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475530377.002
Overview and Purpose
- Presents an assessment of the level of implementation of the IOSCO (International Organization of Securities Commissions) objectives and principles in the Russian Federation.
- Notes that some of the most recent regulatory changes in the Russian Federation are clearly based on international standards.
- Indicates that in other areas, further initiatives will be required.
Key Findings
- Regulatory alignment:
- Some recent regulatory changes are clearly based on international standards.
- Other areas remain to be aligned with IOSCO objectives and principles.
- Areas requiring further initiatives:
- Conflicts of interest identification.
- Improving standards of management in professional market participants.
- Supervisory capacity and legal framework:
- Creation of legal gateways is required to enable supervisors with the necessary skill sets to provide guidance on the Central Bank of the Russian Federation’s (CBR) reasonable expectations on a range of issues.
- Enforcement and resources:
- CBR faces a major challenge in enforcing the regulatory regime and will need additional resources.
Subject Areas Covered
- Correspondent banking
- Financial institutions
- Financial markets
- Financial regulation and supervision
- Financial services
- Legal support in revenue administration
- Revenue administration
- Securities
- Securities markets
- Securities regulation
Keywords and Concepts Emphasized
- beneficial owner
- CBR discretion
- CBR inspector
- CBR Law
- CBR member
- CBR power
- CBR staff
- central bank
- Correspondent banking
- CR
- financial market
- general obligation
- Global
- ISCR
- joint stock
- Legal support in revenue administration
- risk management
- Securities
- Securities markets
- Securities regulation
- supervision CBR
Publication and Metadata
- Publication type: IMF Staff Country Reports
- Title: Russian Federation: Report on the Observance of Standards and Codes-IOSCO Objectives and Principles of Securities Regulation
- Date: July 13, 2016
- Pages: 60
- Volume: 2016
- Issue: 233
- Series: Country Report No. 2016/233
- DOI: https://doi.org/10.5089/9781475530377.002
- Stock No: 1RUSEA2016005
- ISBN: 9781475530377
- ISSN: 1934-7685
Source: IMF Staff Country Report "Russian Federation: Report on the Observance of Standards and Codes-IOSCO Objectives and Principles of Securities Regulation" (July 13, 2016).