Friday, 9 January 2015

Finance and investment management

Finance and investment management

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The Federal Service for Financial Markets

The Federal Financial Markets Service (FFMS of Russia) was founded by the Decree of the President of Russia VV Putin's "On the system and structure of federal executive bodies" â„– 314 of March 9, 2004. Basic functions, powers, procedures and organization of the FFMS of Russia are defined in Decree of the Government of the Russian Federation "Matters of the Federal Service for Financial Markets" â„– 206 of April 9, 2004 and the Regulations on the Federal Service for Financial Markets June 30, 2004, approved by the Decree of the Government of the Russian Federation â„– 317 of June 30, 2004. According to the order of March 30, 2006 N 06-34 / pz-n "On Regulations of the Federal Service for Financial Markets", as well as the decision of the Government of the Russian Federation of April 9, 2004 N 206 "Matters of the Federal Service for Financial Markets" The Federal Financial Markets Service is a federal body of executive authority responsible for the adoption of regulations, control and supervision in the financial markets (with the exception of insurance, banking and auditing). Guide the Federal Service for Financial Markets of the Government of the Russian Federation. This service is independent in the exercise of their powers established by federal laws, acts of the President and the Government of Russia and operates directly and through its regional offices. In exercising its discretion the FFMS of Russia directly interacts with other government agencies and local authorities, unless otherwise established by federal laws, acts of the President and the Government.
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FFMS is a legal entity, has a seal with the State Emblem of Russia and its name, other seals, stamps and standard forms, as well as bank accounts opened in accordance with the laws of the country. FFMS of Russia organizes the development of administrative regulations the performance of state functions and the provision of public services, which define the administrative procedures to ensure the exercise of the functions of FFMS of Russia, the effective work of its departments and officials, the implementation of the rights of citizens. The main tasks of the Federal Financial Markets Service is to ensure the stability of the Russian financial market, increasing its effectiveness and attractiveness for investment, including increasing market transparency and reducing investment risks, the prosecution of those who with the help of inside information is manipulating the market prices of securities. These problems can be solved by controlling the activities of the financial markets and to create a legal framework defining the terms of issue and circulation of securities of the professional participants, and reporting systems. Article 5 of the Decree of the Government of the Russian Federation â„– 206 states that the Federal Service for Financial Markets provides:

 • summarizing the effects of the legislation of the Russian Federation in the sphere of their competence and making to the Government proposals for its improvement; • The development of the established procedure of legislative and other regulatory legal acts; • the organization of research on the development of financial markets. Also, according to the order of N 06-34 / pz-FFMS of Russia: ï‚§ Writes in the prescribed manner to the Government draft federal laws, normative legal acts of the President and the Government, and other documents that require a decision of the Government, on the scope of the Federal Financial Markets Service, as well as the draft plan and forecast their performance. ï‚§ On the basis of the Constitution of Russia, the federal constitutional laws, federal laws, acts of the President and the Government: - Takes his own legal acts - orders in the established field of activity, except for the issues, the legal regulation which is exclusively federal constitutional laws, federal laws, acts of the President and the Government; - Within its competence shall issue individual legal acts - orders. ï‚§ exercise the powers of control and supervision in the established field of activity. ï‚§ FFMS of Russia manages the assets necessary to ensure the performance of the functions of the federal executive authority in the established field of activity. ï‚§ FFMS of Russia provides within its competence, the protection of information classified as a state secret.

The Decree number 206 spelled out the basic functions of the FFMS, which include:

1 implementation of the state registration of securities issues and reports on the issue of securities and registration of securities prospectuses;

2. providing disclosure on the securities market;

3 exercise the functions of control and supervision in respect of:  issuers

 professional securities market participants and their self-regulatory organizations,  joint-stock investment funds
 management companies joint-stock investment funds
 mutual funds and pension funds and their self-regulatory organizations,  specialized depositories joint-stock investment funds
 mutual funds and pension funds,
 mortgage agents, managers mortgage-backed
 specialized depository mortgage cover, private pension funds,  Pension Fund of the Russian Federation,
 state management company,
 commodity exchanges,
 credit bureau and housing savings cooperatives;

4 implementation of state regulation in the field of shared construction of apartment buildings and other real estate.


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FFMS has the right to:
 request and receive the information necessary for decision-making within its competence issues;  arrange for the necessary investigations, tests, examinations, analyzes and evaluations, as well as research in the areas of supervision in the established field of activity;  provide legal and natural persons on issues related to the work of the Federal Financial Markets Service;  oversee the activities of the territorial bodies of the Service;  attract to work on issues of scientific and other organizations, scientists and experts;  prevent violation of the law, and apply restrictive, precautionary and preventive measures aimed at preventing and (or) the elimination of the consequences caused by the violation of legal entities and citizens of mandatory requirements on matters within the competence of the Service;  establish coordinating, advisory and expert bodies in the established field of activity. However, the Federal Financial Markets Service has no right to exercise the functions of state property management and provision of paid services. According to the order of July 1, 2008 N 08-102 / pz "On Approval of the Procedure of consideration of citizens and organizations entering the FFMS" consideration of citizens and organizations entering the FFMS of Russia, is one of the priorities of the FFMS of Russia . Deputy heads of the FFMS of Russia, heads of structural subdivisions of the FFMS of Russia and the heads of territorial bodies of the FFMS of Russia are personally responsible for objective, comprehensive and timely consideration of citizens and organizations entering the FFMS of Russia. Head of the FFMS of Russia is personally responsible for implementation of the service authority in the established field of activity.


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