CB on Tuesday, July 9, was discussed with the participants in the stock market the law on categorisation of investors, told Forbes three participants of the meeting. Brokers asked the regulator to allow protected nonprofessional investors to buy foreign securities, and tell the friends of Forbes. “Elvira Nabiullina spoke out strongly against the common investors to foreign securities”, — says one of the sources. If the ban is not removed, ordinary citizens will not be able to buy shares of foreign issuers through the Russian brokers on the Russian stock market.
What kind of law
The bill about modification in FZ “On securities market”, in question, needs to create a new system of dividing investors into groups. Is the current division into skilled and unskilled investors, you should see four groups — unskilled protected and simple investor, qualified simple and professional investor.
To the protected non-qualified investors will be added all who do not fall in other categories. To simple unskilled investors — citizens, the amount or value of the securities of 400 thousand roubles and more. Simple to qualified parties with assets in the amount of 10 million rubles, or with experience in the financial markets. For professional investors — persons with special international certificate great experience on financah or net assets of not less 50 million roubles.
If the law is adopted in the present form, the majority of investors will fall into the category of especially protected. They, by law, will be able to buy through the Russian brokers only diskrescue investment instruments are the securities from the quotation lists of the first and second level, with the exception of the commercial bonds, and mutual Funds, foreign currency and precious metals. Foreign securities listed on Russian exchanges, are dekotirovalis of the list, so will be unavailable protected investors.
The fight for abroad
Market participants have already offered to keep unqualified investors access to international financial securities. This, for example, said the CEO of TCS Bank Oliver Hughes in the state Duma on Monday, July 8. Allow protected unskilled investors to purchase foreign exchange financial instruments and asked the authors of the letter sent to the state Duma Committee on financial markets on behalf of the two major financial SRO NAUFOR and NFA previously reported the newspaper “Kommersant”.
“Of particular concern to us is the proposed ban on the purchase of securities of foreign companies,” — said Vice-President of Tinkoff Bank Alexander Emeshev. According to him, the ban in this case may be paper, for example, Facebook, Google, Apple and Alibaba, which are traded on the St. Petersburg exchange. According to Emesheva, this ban encourages the novice investor to buy foreign securities through a foreign broker. “And there he can buy anything without any pleasure guarantee. So we just decided to help the aliens by sending them more customers with your own hands?”, — hot he.
Don’t really understand the logic of innovation, restrict access to shares in foreign companies on foreign exchanges, said the President of GK “FINAM” Vladislav Kochetkov. “If you have denied access to foreign exchange through Russian brokers, investors literally two clicks of the mouse will move to Western brokers,” he agrees.
Assessment Tinkoff Bank, if the law is adopted, the Bank’s customers, using the most conservative rate, will lose at least 70% of the papers. “The market has just formed, and instead to support and increase the popularity of careful investment, these amendments will actually the outcome of existing private investors in the market, as new investors come on it will be much more difficult,” — said Amashev.
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