Plans Unveiled for new Regulatory Organization

15 May 201318:15

Dear Clients,

On June 9, a number of leading Russian financial companies announced plans to create an overarching self-regulatory organization which would unite a number of the country's existing regulatory bodies. Alpari was one of the initiators of the recently-founded Center for the Regulation of Off-Exchange Financial Instruments and Technologies, an organization slated to become an alternative to the existing regulatory body "KROUFR", which has been overseeing the Russian foreign exchange market since 2003.

"Today, the main objective for Alpari and other Russian Forex brokers is to coordinate a working relationship with federal regulators based on open dialogue in which the Forex industry can present the government with a consolidated vision for the basic standards that should govern the regulation of Forex in Russia. Only a plan such as this, based on openness and feedback, will allow us to reach our goals," commented Alpari External Communications Director Valeriy Tarasov.

Best Regards,
Alpari

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