Russian Federation: Financial Assessment Program: Detailed Assessment of Implementation: IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, September 22, 2016
Source details
- Canonical URL
- Russian Federation: Financial Assessment Program: Detailed Assessment of Implementation: IOSCO Objectives and Principles of Securities Regulation
Other formats
Bibliographic details
- Published: September 22, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475538427.002
Assessment summary
- Purpose: Assesses the level of implementation of the International Organization of Securities Commissions objectives and principles of securities regulation in the Russian Federation.
- Core conclusion: The Central Bank of Russia needs to accomplish significant work to approach good international practice as a securities regulator.
- Positive note: Some recent regulatory changes, such as those on credit rating agencies, are clearly based on international standards.
Key findings
- Overall implementation gap: There is "much that the Central Bank of Russia needs to accomplish" to reach good international practice.
- Recent progress: Regulatory changes on credit rating agencies align with international standards.
- Persistent weaknesses: Identification of conflict of interest and management standards of professional market participants require further initiatives.
Areas requiring further initiatives
- Identification of conflict of interest among market participants.
- Improving management standards of professional market participants.
Subject coverage and keywords
- Subjects: Correspondent banking, Financial institutions, Financial markets, Financial regulation and supervision, Financial services, Mutual funds, Securities, Securities markets, Securities regulation.
- Keywords (as listed): active market, beneficial owner, bond issue, CBR employee, CBR regulation, CBR staff, Correspondent banking, CR, financial market, general obligation, Global, insider dealing, investment funds, ISCR, joint stock, management company, Mutual funds, risk assessment, Securities, Securities markets, Securities regulation, supervision CBR.