Legal Encyclopedia. Letter F

Federal Commission for the Securities Market

- Executive body of the Russian Federation to conduct the state policy in the field of securities market, control over the activity of the professional participants of the securities market, ensuring the rights of investors, shareholders and depositors. The main purpose of the FCSM of Russia is to assist in improving the efficiency of securities regulation.

The Federal Commission on Securities and Stock Market under the Government of the Russian Federation in 1994 was transformed into the Federal Securities Commission of Russia, headquartered in Moscow.

Russian Federal Securities Commission is a collegial body composed of six members: the head of the Russian Federal Securities Commission, the Chairman, First Deputy Chairman, three Vice-Presidents and Secretary of the FCSM of Russia. The Commission is subordinate to the President of the Russian Federation on the issues assigned to it by the Constitution of the Russian Federation and the Russian legislation.

In accordance with Regulation "On the Federal Commission for the Securities Market" exclusive jurisdiction of the Federal Securities Commission of Russia is:

1) Development of areas of securities market development and coordination of activities of federal executive bodies on regulation of securities market;

2) approval of the emission standards of the securities;

3) development and adoption of common requirements for the implementation of professional activity with securities, to securities transactions and to order the register of registered securities;

4) the establishment and implementation of the order of licensing of various types of professional activity in the securities market;

5) determination of the performance standards of investment, private pension and insurance funds and their management companies; administers the regional offices of the Federal Securities Commission of Russia and others.

With respect to matters falling within its competence, Russian Federal Securities Commission adopts decisions that are mandatory for the federal ministries and other federal bodies of executive power. These regulations come into force from the date of official publication and is not subject to registration in the Ministry of Justice.

To resolve issues bearing an interdepartmental nature, Russian Federal Securities Commission acts board, which consists of 15 members. Members of the board shall be approved by the Government. When the Federal Securities Commission acts as the advisory council consisting of 25 members.

Based on the decision of the FCSM of Russia and in coordination with the executive authority of the subject of the Russian Federation on the territory of the RF subject can form its regional offices, acting on the basis of regulations approved by the Russian Federal Securities Commission.

As a legal entity, the Federal Securities Commission of Russia has the official seal with its name. It has the current account and other accounts, including foreign currency exchange, banks and other credit institutions.