It's our 19th anniversary!

Alpari’s Regulatory Initiatives Gain the Support of Federal Regulators

Publication Date: June 24, 2011

Dear Clients,

This year at the 15th annual St. Petersburg International Economic Forum, Alpari took a leading role in opening a dialogue with Russian financial regulators. Alpari representatives had the opportunity to speak with Dmitriy Pankin, head of the Federal Financial Markets Service, Russia’s main financial regulation agency, about the prospect of working out a framework for the long-term development of the currency market in the Russian Federation. Pankin commented, “It’s about time we introduced a more comprehensive regulatory system for Forex in Russia. The FFMS might start taking a look into the currency market.” After listening to some of Alpari’s recommendations, he added, “I think it would be great if we could get Russia’s leading Forex brokers to work out a regulatory system on their own. Then the FFMS could come in, review some of their ideas and begin to work on developing a long-term plan.”

Alpari's Delegation to the Forum

One of the key players in the development of the CRFIN (Center for the Regulation of Financial Instruments), Alpari has long been at the forefront of the movement to develop a regulatory system for Forex companies in Russia. The idea of developing a regulatory organization has always been important to Alpari and the company has worked to take a leading role in discussing the issue at economic forums and at other gatherings of Russia’s economic and financial leaders. Alpari has also worked on reaching out to Russian officials in an attempt to gather momentum for some of their initiatives. Dmitriy Tarasov, External Communications Director at Alpari, commented, “Today, the main goal of Alpari and Russia’s other leading Forex brokers is to work out a system of interaction between the business community and Russia’s regulatory agencies and come to an agreement on a set of basic standards for regulating the Forex market in Russia. Only by working towards an open dialogue with Russian authorities will we be able to get to where we want to be.”

Best Regards,
Alpari

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