MIFC: Key Facts

A source of basic facts about the International Financial Centre in Moscow

Task Assignments

06.12.2011 / Moscow

Task Assignments given by the President of the Russian Federation following the MIFC International Advisory Board session
on 28 October 2011.

MIFC Events

24.04.2018

Annual NAUFOR Russian Stock Market Conference

10.04.2018

Moscow Exchange Forum 2018

Events Calendar

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Media Coverage

29.01.2014 / Interfax

Russia #3 Worldwide in Foreign Direct Investment

FDI in developing and transitional economies hit record highs in 2013, according to United Nations Conference on Trade and Development (UNCTAD) report.

06.04.2013 / Kommersant

Central Bank Builds Financial Center

FFMS merger with the CB will significantly improve regulation – as expected by reform participants and instigators alike. Yesterday the Bank of Russia, FFMS and Minfin reps made a public presentation of the financial megaregulator, as the process has entered implementation stage. In the meantime, MIFC mastermind Alexander Voloshin sees the future unification of oversight as a key milestone for Moscow as International Financial Center.

29.01.2013 / Interfax

MIFC Location to be Determined by Workgroup

Russian Prime Minister Dmitry Medvedev is planning to establish a workgroup to determine the location of Moscow International Financial Center (MIFC) infrastructure.

Our progress / MIFC News

17.07.2018 07:31 / The Bank of Russia

Plans on Proportional Regulation and Risk Based Supervision in Non-Banks  The Bank of Russia has drafted and posted for debate the outlines of Proportional Regulation and Risk Based Supervision implementation in non-banks, and details of current regulation approaches.

06.06.2018 17:31 / The Bank of Russia

CBR Unveils Policy Guidelines for Development  The Central Bank of Russia (CBR) unveiled its new ‘Guidelines for Development of Russia’s Financial Market and Action Plan’.

24.10.2017 17:59 / TASS

Putin orders government to devise cryptocurrency regulations Russian president Vladimir Putin has ordered his government to devise a regulatory framework for cryptocurrencies, the clearest sign yet that the Kremlin intends not to ban them.

08.06.2017 19:27 / TASS

Central Bank to Develop Cryptocurrency Regulation  Russia is making its own blockchain currency. According to the Russian News Agency, the chairwoman of the Russian Central Bank announced regulators now agree national cryptocurrencies are the future.

24.03.2017 17:15 / MIFC

10th Russian-British MIFC Joint Liaison Group meeting  Alexander Voloshin, Head of MIFC Taskforce, Miles Celic, Chief Executive of TheCityUK and Nikolay Kosov, Chairman of the Board, IIB signed a Memorandum of Understanding at the 10th Russian-British MIFC Joint Liaison Group meeting today.

30.11.2016 16:22 / Vedomosti

Russia launched trading of a futures contract for Urals crude oil URL-E Russia launched trading of a futures contract for Urals crude oil URL-E in Moscow on Tuesday, in a step to secure greater prominence for the Russian export blend.

News from 
till 

Plans on Proportional Regulation and Risk Based Supervision in Non-Banks

17.07.2018 07:31 / The Bank of Russia

The Bank of Russia has drafted and posted for debate the outlines of Proportional Regulation and Risk Based Supervision implementation in non-banks, and details of current regulation approaches.

At present, the majority of non-banks are proportionally regulated to a certain extent. This is a risk based approach, where regulatory demands correlate to the amount of risk taken on by non-banks. The level of risk is determined by two criteria: transaction type (qualitative) and transaction volume (quantitative). These criteria shape the non-bank’s risk profile.

Supervision implements proportional and risk based principles through more intensive and frequent review procedures depending on non-bank category and risk profile. The key transformation we expect in the future is to cut down on reporting for small non-banks. Also, in developing new reporting forms, the non-bank category will be a factor in deciding what info will be reported and how often.

The draft concept is set to reduce the regulatory burden for non-banks and enable preventive risk identification. Proportional Regulation and Risk Based Supervision implementation is in line with current financial market regulation and supervision trends, primarily focused on consumer rights protection, financial market development and stability.

“Proportional Regulation and Risk Based Supervision implementation in non-banks will help us promote the Russian financial market and build consumer trust. It reflects today’s economy and best international practices”, says Vladimir Chistyukhin, Deputy Chairman of the Bank of Russia. “Nevertheless, the variety of services in the financial market precludes us from a completely uniform approach to proportional regulation”.

Financial markets megaregulatorProject Group №1

17.07.2018 07:31 / The Bank of Russia

Plans on Proportional Regulation and Risk Based Supervision in Non-Banks  The Bank of Russia has drafted and posted for debate the outlines of Proportional Regulation and Risk Based Supervision implementation in non-banks, and details of current regulation approaches.

06.06.2018 17:31 / The Bank of Russia

CBR Unveils Policy Guidelines for Development  The Central Bank of Russia (CBR) unveiled its new ‘Guidelines for Development of Russia’s Financial Market and Action Plan’.