NAUFOR became the only SRO for the main types of activities at the RZB

The National Association of Stock Market Participants (NAUFOR) has become the only self-regulatory organization on the Russian securities market for brokers, dealers, securities managers, depositories and fund management companies, as well as specialized depositories.

According to the updated register of self-regulatory organizations in the financial market published by the Bank of Russia, on May 18, 2023, the Financial Supervision Committee of the Central Bank of the Russian Federation approved the documents of the National Financial Association (NFA), which indicate that it is waiving the status of a self-regulatory organization in relation to dealer and brokerage activities , securities management, activities of registrars and specialized depositories.

In accordance with the legislation on self-regulation in the financial market, companies and banks that were members of the National Financial Association as a self-regulatory organization for the specified types of activities (with the exception of registrars) must join the current self-regulatory organization within 180 days. Earlier, NAUFOR informed market participants about its plans to abandon the status of a self-regulatory organization in the financial market.

The National Association of Stock Market Participants received the status of a self-regulatory organization for management companies in May 2013, and in 2018 this status became exclusive after the absorption of the National League of Managers. In 2020, NAUFOR received the status of a self-regulatory organization for specialized depositories.

In 2019, NAUFOR became the first self-regulatory organization for investment advisors, and at the moment there is another self-regulatory organization on the market for this type of activity.

At the beginning of May 2023, NAUFOR submitted documents to the Bank of Russia to obtain the status of a self-regulatory organization for registrars.

At the time of exclusion of the National Financial Association from the register of self-regulatory organizations in the financial market, it included 452 companies and individual entrepreneurs. With regard to some members of the National Financial Association, the Board of Directors of NAUFOR decided to join NAUFOR after leaving the National Financial Association.

More details on the NAUFOR website.