Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

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Ministry of Justice

Russian Federation

On April 5, 2017 No. 46254

INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of January 25, 2017 No. 4270-U

About the list obligatory for development by the self-regulatory organizations in the sphere of the financial market uniting Forex dealers, basic standards and requirements to their content and also about the list of transactions (content of types of activity) Forex dealers in the financial market, standardization subjects

(as amended of the Instruction of the Central bank of the Russian Federation of 22.06.2021 No. 5826-U)

This Instruction based on part 2 of article 5 of the Federal Law of July 13, 2015 No. 223-FZ "About self-regulatory organizations in the sphere of the financial market" (The Russian Federation Code, 2015, No. 29, Art. 4349; 2016, No. 27, the Art. 4225) establishes the list obligatory for development by the self-regulatory organizations in the sphere of the financial market uniting Forex dealers (further - self-regulatory organizations), basic standards and the requirement to their content, and also the list of transactions (content of types of activity) Forex dealers in the financial market, standardization subjects.

1. Self-regulatory organizations shall develop the following basic standards:

on risk management;

corporate management;

protection of the rights and interests of physical persons and legal entities - receivers of the financial services rendered by members of self-regulatory organizations;

making of transactions in the financial market.

2. The basic standard on risk management developed by self-regulatory organizations shall contain:

2.1. the purposes and tasks of risk management system Forex dealer, and also set of methods and the methods allowing to predict Forex dealer with certain accuracy emergence of risks and to take the measures directed to minimization of their consequences;

2.2. requirements about respect for the principles and approaches to the organization of the risk management system including identification, monitoring is risk also risk management, providing:

continuity of risk management process;

efficiency (achievement of the set results with use of the smallest amount of means) risk management process;

compliance of risk management system to nature and to amounts of the made transactions;

timely bringing information concerning risk management system to data of governing bodies Forex dealer;

2.3. the list of the main risks which are subject to management, and also reflecting specifics of activities Forex dealer;

2.4. system of separation of powers, functionality and internal procedures Forex dealer in the sphere of risk management;

2.5. requirements to program technical means Forex dealer;

2.6. procedure for providing Forex dealer of information security of processes of creation and operation of the automated systems which are part of its program technical means, in accordance with the legislation of the Russian Federation about technical regulation, including bases, procedure for the organization, terms, frequency (at least once in three years) carrying out Forex dealer of assessment (audit) of such processes;

2.7. procedure of payments of the generalized financial results received by the physical persons who are not individual entrepreneurs (further - clients), under the agreements signed about Forex dealer.

3. The basic standard of corporate management developed by self-regulatory organizations shall contain:

3.1. requirements about respect for the principles of corporate management:

providing the effective management system Forex dealer answering strategic objectives Forex dealer;

providing the equal and fair attitude towards all founders (participants) in case of realization of the participation right by them in management Forex dealer;

providing effective internal control system and risk management system;

prevention of conflict of interest and anti-corruption;

3.2. mechanisms of realization of the principles specified in subitem 3.1 of this Item.

4. The basic standard of protection of the rights and interests of physical persons and legal entities - receivers of the financial services rendered by members of self-regulatory organizations (further - the basic standard of protection of the rights and interests), developed by such self-regulatory organizations, shall contain:

4.1. the minimum amount of information provided Forex dealer to physical persons and legal entities - receivers of financial services (further - receivers of financial services):

about the full and abbreviated name Forex dealer (in the presence), about the trademark used Forex dealer (in the presence), about membership in self-regulatory organization and about its standards on protection of the rights and interests of receivers of financial services;

about financial services Forex dealer;

about the risks connected with the conclusion, execution and discharge of the framework agreement, separate agreements;

about the expense amounts connected with obligation fulfillment under the signed agreements including the open line items connected with transfer;

about compensation payments from means of the compensation fund created by self-regulatory organization which member is Forex dealer, including procedure for priority of satisfaction of requirements, and also the additional bases for implementation of such payments;

4.2. procedure for provision information Forex dealer to receivers of financial service:

excluding provision of information which can entail ambiguous interpretation of properties of financial service;

providing provision to receivers of financial services of data for assessment with them of the risks connected with the conclusion, execution and discharge of the framework agreement, separate agreements;

providing notification of the receiver of financial services that profitability is not determined by the separate agreements signed about Forex dealer by the profitability of such agreements based on profitability indicators in the past;

providing provision to the receiver of financial service of information without costs or making of additional actions, not stipulated by the legislation the Russian Federation;

providing information statement with available language (with use of legible fonts, formats - in case of provision of information on paper) and with explanation of special terms (in case of their availability);

4.3. the rules of interaction Forex dealer with the receiver of financial service including:

methods of the direction of information to the receiver of financial service in connection with provision of such service;

requirements to ensuring interaction of the receiver of financial service about Forex dealer by means of the communication methods approved by them;

procedure and methods of consultation of receivers of financial services in the provided financial services in questions of the legislation of the Russian Federation regulating the provided financial service;

procedure and terms of provision Forex dealer upon the demand of any interested person of copy of the framework agreement registered by self-regulatory organization in the edition operating for the date specified in the requirement;

the requirement about ensuring the round-the-clock access to the relevant information posted on the website Forex dealer on the Internet to receivers of financial services;

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