Federal Financial Markets Service (Russia)

The State Financial Market Supervisory Authority ( FFMS, FFSR ) (Russian Федеральная служба по финансовым рынкам, ФСФР ) is a state executive body that regulates the Russian financial market. This includes the issuing of licenses, monitoring of foreign exchange, issuers, market practitioners and their self - regulatory organizations of the Russian Pension Fund and the state-owned enterprises, with the FFMS has strong similarities to other financial market supervisory authorities in Europe. The only major difference is simply that the FFMS of Russia also administers the pension fund, the FDIC, therefore totals about 20,000 euros at present some 700,000 rubles. It also is a great social task of the FFMS to inform the public about how the financial markets work.

Structure

The FFMS is headquartered in Moscow and is part of the Russian government. The authority is divided into 13 Regional Director visions in Saint Petersburg, Yekaterinburg, Novosibirsk, Nizhny Novgorod, Rostov, Vladivostok, Krasnoyarsk, Oryol, Omsk, Samara, Chelyabinsk, Saratov and Irkutsk. In the FFMS exist nine departments.

From 23 March 2004 to May 10, 2007 Oleg Vyugin was head of the company, then handed over the leadership of Vladimir Miliovidov, who held this position today. Oleg Vyugin 's four assistants were Vladislav Streltsov, Sergei Kharlamov, Bembya Khulkhachiev and Vladimir Gusakov.

History

The FFMS was introduced by Decree 314 concerning " the system and the structure of state executive bodies of the financial sector" of the then Russian President Vladimir Putin. The FFMS received both the functions of the former State Revenue Market commission of Russia (Russian Федеральная комиссия по рынку ценных бумаг ) and the old Ministry of Labour and Social Development in Russia. Furthermore, the FFMS also takes on former activities of the Ministry for Antimonopoly Policy and the Russian Ministry of Finance.