The Bank of Russia will restrict access to forex Read more on RBC

19 April 2016

The Bank of Russia will prohibit poor and uneducated citizens from using the services of forex dealers. To protect the interests of wealthy investors, the state will not.

The regulator will not protect rich citizens from forex dealers, and the poor and unskilled will limit access to this market. This was announced by Deputy Chairman of the Bank of Russia Sergey Shvetsov, speaking in the State Duma on Thursday, April 14.

All investors in the Central Bank plan to divide into three categories – professional, qualified and unqualified. As explained by Shvetsov, the final criteria for the separation of investors into groups have not yet been worked out. “So far, the proposal that we formulate, according to the classification will depend on two criteria: from experience and knowledge – this is the first criterion – and on the financial situation,” he said. The Central Bank plans to finally determine the set of criteria for investors by May to discuss with the market.
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