The collective of the AFD congratulates colleagues on the coming New Year! This year was marked by the formation of a regulated forex market in the Russian Federation! We are confident that next year licensed forex dealers will be able to start their activities!
Following the meeting of the Board:
1. The Limited Liability Company “Intercom-Audit-L” is appointed by the auditor to check the annual accounting (financial) statements of the AFD.
2. The schedule of inspections of AFD members for 2017 was approved.
1. Definition of the auditor for checking the annual accounting (financial) reporting of the SRO of the AFD.
2. Adoption of the schedule of inspections of SRO members of the AFD for 2017.
On December 22 and 23, 2016 in the SRO of the AFD for the members of the AFD under the leadership of S.P. Soboleva there will be seminars on the topics: IAS 488-P Accounting for derivative financial instruments and IAS 496-P Hedgi
For more than 20 years, the market of forex – retail electronic trading of currency pairs – in Russia has been left to itself. Thanks to this business was, albeit super-profitable for forex dealers, but had a reputation of marginal. The desire to raise the status of the market played a cruel joke with forex companies: effective January 1, 2016 tough amendments to the legislation actually deprived them of the opportunity to legally work in the Russian jurisdiction. “Kommersant” has found out, how the market has lived almost year at new regulation and on what counts in the future
The functions of the Committee for Standards include the development of proposals for the development of financial organizations, the harmonization of the basic standards developed by the SRO forex-dealers.
Extraordinary meeting of the General Meeting of the members of the Association of Forex Dealers on November 22, 2016
The Board of the self-regulating organization in the sphere of the financial market uniting the forex dealers of the Association of Forex Dealers (Minutes No. 10 of November 21, 2016) decided to accept the Limited Liability Company “Forex Club” as a member of the SRO of the AFD.
On October 28, 2016, a meeting of the working group on internal accounting and control took place. The meeting discussed the issues of regulatory support for the activities of forex dealers, including reporting issues
Руководителем рабочей группы назначена член Коллегии АФД Елена Кузнецова.
Last week, the Association of Forex Dealers (AFD) was accredited by the Bank of Russia as the first self-regulatory organization in the forex market. In his first interview in a new quality, Evgeny Masharov, head of the AFD, and Yaroslav Dusush, chairman of the AFD board, told Finversia.ru how the market will change in connection with his legitimization.
The Board of the self-regulating organization in the sphere of the financial market uniting the forex dealers of the Association of Forex Dealers (Minutes No. 9 of October 24, 2016) decided to accept VTB 24 Forex as a member of the SRO of the AFD.
October 14, 2016 an extraordinary meeting of the Board of the Association of Forex Dealers (Minutes No. 8 of October 14, 2016) was held
October 17, 2016 an extraordinary meeting of the General Meeting of members of the Association of Forex Dealers (Minutes No. 4 of October 17, 2016) was held.
The Central Bank of the Russian Federation accredited the Association of Forex Dealers (AFD) as a self-regulating organization of forex dealers.
Why the forex industry in Russia has not yet “started” at full strength, what happens to forex advertising and how is the self-regulation of this market prepared? About this, Ian Art, vice-president of the Association “Russia” and editor-in-chief of Finversia.ru, talks with Yevgeny Masharov, president of the Association of Forex-dealers.
On the website of the Bank of Russia, Bank of Russia Ordinance No. 548-P dated August 19, 2016 “On the procedure for calculating the equity of professional participants in the securities market, as well as job seekers of a professional participant in the securities market” was published.
Earlier this month, the process of licensing the participants of the domestic forex industry moved one step further. Or rather, two amendments were adopted and approved, which concern the regulation of the forex market in Russia and the activities of self-regulating organizations in the financial market (SROFR). The first obliges forex dealers to appoint an internal accounting officer, and the second sets the criteria for managing the SRO. For clarification, regarding these innovations, we turned to the Head of the Association of Forex Dealers (AFD) Evgeni Masharov.
The regulated forex market gradually began to acquire the form that was prescribed to it by the law, which came into force in January of this year. The central bank began issuing licenses to companies, and now they are already available to three participants of the forex market. Bankir.Ru tried to figure out what is needed to fully launch the regulated forex market in Russia.