Federal Financial Markets Service (Russia)

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Federal Financial Markets Service
Федеральная служба по финансовым рынкам
Ffms-ru-logo.png
Agency overview
Formed March 2004
Dissolved 1 September 2013[1]
Jurisdiction Russian Federation
Headquarters Moscow, Russia
Agency executive
  • Dmitry Pankin, Head
Website http://www.fcsm.ru/

The Federal Financial Markets Service (FFMS, FSFR) (Russian: Федеральная служба по финансовым рынкам, ФСФР) was a Russian federal executive body which regulated Russian financial markets including securities issuance and trading and supervision of exchanges, issuers, professional market participants and their Self-Regulatory Organisations; the Russian Federation Pension Fund; the State management company. A major social role of FFMS was to promote public understanding of securities laws and their practical application.

Structure

Headquartered in Moscow, the FFMS was a part of the Russian Government. The FFMS had 13 regional authorities:[2] in St. Petersburg, Ekaterinburg, Novosibirsk, Nizhny Novgorod, Rostov, Vladivostok, Krasnoyarsk, Oryol, Omsk, Samara, Chelyabinsk, Saratov and Irkutsk. There are thirteen departments and three independent divisions within the FFMS:[3]

  • Regulation and control over the collective investment department.[3]
  • Regulation of financial market participants department.[3]
  • Securities department.[3]
  • Surveillance activities in the securities market department.[3]
  • Legal department.[3]
  • Financial market regulation department.[3]
  • Administration and archives department.[3]
  • Economics, finance and accounting department.[3]
  • Information technology and economic support department.[3]
  • Information and monitoring of the financial market department.[3]
  • Preliminary control of the insurance market department.[3]
  • Economic analysis and control of the reliability of reporting by insurance companies department.[3]
  • Insurance supervision and monitoring of solvency-restoration procedures department.[3]

From March 23, 2004, to May 10, 2007, Oleg Vyugin was the Head of the FFMS. His four deputies was: Vladislav Streltsov, Sergei Kharlamov, Bembya Khulkhachiev and Vladimir Gusakov. Since May 10, 2007, Vladimir Milovidov has led the service.

History

The FFMS was established by President Vladimir Putin's Decree No. 314 dated 9 March 2004 "On the System and Structure of Federal Executive Branch Agencies". FFMS received the functions of the former Federal Fund Market Commission of Russia (Федеральная комиссия по рынку ценных бумаг), as well as some responsibilities of the former Ministry of Labour and Social Development of Russia and former Ministry of Antitrust Policy of Russia as well as the Russian Ministry of Finance.


References

  1. ↑ http://www.utro.ru/articles/2013/07/25/1133754.shtml
  2. ↑ Федеральная служба по финансовым рынкам, Территориальные органы ФСФР России (The Federal Service for Financial Markets, Territorial authorities FFMS of Russia).
  3. ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 3.12 3.13 Федеральная служба по финансовым рынкам, Структура ФСФР России (The Federal Service for Financial Markets, The structure of the Russian Federal Financial Markets Service).

External links

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