The financial market in Russia is waiting for the reform of the admission system - the central bank was waiting for the change in the licensing mechanisms of participants. Now the rules are complex and often duplicating, especially when it comes to issuing a license for similar activities, which creates difficulties and regulator. Approaches to reform are presented to the discussion of the trade community in the special report of the Bank of Russia. The participants of the round table "Improvement of admission to the financial market shared their opinions on proposals. New opportunities for participants "(organized by the Council of the CCI of the Russian Federation for financial and industrial and investment policies, financial university under the Government of the Russian Federation and the national investment platform). Vladimir Gamza, chairman of the TPP Council of the Russian Federation for financial and industrial and investment policy, and Marina Abramova, head of the Banking Department and Financial University Financial Markets Department of the Financial University, were made by moderators. We tell about the hottest moments of the discussion.
The mechanisms of admission to Finnish really would have to change aside if not simplified, then at least the removal of unnecessary regulatory requirements, the participants of the round table agreed. It was especially obvious that it became with the advent of the megaregulator represented by the Central Bank, reminded Boris Rubtsov, Deputy Head of the Banking Department and Financial Markets of the Financial University.
There are restrictions on combining activities that are very close to economic content and, as foreign experience shows, can be in the overall regulatory sphere.
The movement of the Bank of Russia to unification and systematization that would have given the opportunity to not spend great efforts to obtain additional licenses, it is only possible to welcome, clarified the head of the National Financial Association of Vasily Zablotsky. After all, the receipt of an additional license is even on similar activities causes a large collection of documents, respectively, labor costs and financial expenses are growing.
Rubtsov also recalled that Russia decreases the number of participants in the financial market. And if you manage to facilitate the process of entry into the market of new institutions, it will certainly be good.
Grouping caused questionsThe report proposes to discuss the functional model of admission to the market of participants by type of financial activities. And this approach participants in the discussion supported.
Support received the idea of launch on the website of the Bank of Russia "Designer", which in the online mode provided a set of requirements for admission. But the principles of grouping of financial institutions by type of activity caused doubts (they are allocated 8, including banking and microfinance operations, insurance, mediation, asset management, etc.).
Thus, the feasibility of combining the "banking" group with "microcredit" noted Karin Adamov, Deputy Finance Director for Corporate Finance and Strategic Projects of the ADG GROUP. She also paid attention to the fact that the Mediation Group combines the activities of too different industries.
You should not oppose the permitting and notification access to the participants to the financial market: both should be on the market, Boris Rubtsov believes. With the fact that the tolerance must be combined, Natalia Annena, Associate Professor of the Financial University, agrees.
SRO: Do I need more rightsParticipants also discussed the possibility of delegating the right to provide access to the financial market profile SRO. After all, according to Vladimir Gamza, Chairman of the Council of the Russian Federation for the Russian Federation for financial and industrial and investment policy, the SRO system in Russia has become quite mature. However, while organizations do not have the necessary functionality, powers, noted Zablotsky; To such a turn is hardly ready for central bank.
In the long term, the market itself can adjust itself, said Alexander Tsyganov, and the Bank of Russia in this case could preserve the functionality of the supervision over the SRO. Perhaps it would be good if the Bank of Russia endowed the SRO with such competencies gradually, noted Annena. She also paid attention that now there is no necessary material base for the implementation of the new functional.
For a careful approachMost of the doubt caused the possibility of admission to the market or refusal from the Bank of Russia on the basis of a motivated judgment (when the decision is made on the basis of not only established requirements, but also taking into account the results of the activities and other qualitative characteristics of the applicant. - Ed. ).
She also noted that criteria and requirements for the procedure for analyzing motivated judgment require additional discussion.
Posted by: Olga Blinova