The Russian government's Presidium has approved a strategy for the Russian financial market's development until 2020, head of the Federal Financial Markets Service (FFMS) Vladimir Milovidov told journalists following today's Presidium meeting. The draft document was submitted to the Russian government and approved by the Finance Ministry, the Economy Ministry, and the Central Bank.
The strategy includes several sets of measures. For instance, in order to increase the size and transparency of the Russian financial market, mechanisms protecting retail investors are to be introduced, along with measures for the development of derivatives and securitization of financial assets. Furthermore, the legal base covering stock exchanges' activities will be improved. Specifically, the state is expected to impose tougher requirements on exchanges compared with other trading agents. At the same time, the FFMS plans to grant much more powers to stock exchanges. |
