13 May 2004 12:31
Vladislav Streltsov Appointed Deputy Head of Federal Service for Financial Markets
MOSCOW, May 13 /PRNewswire/ -- The Federal Service for Financial Markets (FSFM) has announced the appointment of
Vladislav Streltsov as Deputy Head. As FSFM Chairman Oleg Vyugin's right hand man, Mr Streltsov will be responsible
for oversight of the Russian capital markets and all associated market participants. He will also have responsibility
for the listing regime for companies and relevant corporate governance and disclosure requirements.
Mr Streltsov was previously President of the RTS Stock Exchange.
Mr Streltsov will bring considerable practical experience to bear in his new role. "Modern markets are
sophisticated structures and face international competition," said Mr Streltsov, "I see my role as a regulator
as anticipating events and tackling relevant issues through dialogue and persuasion. Of course, I won't hesitate to
use current legislation to deal with those who break the rules.
But I do believe a regulator can contribute a great deal to a sensible process of regulation - an objective,
analytical process and dialogue that involves market participants, followed by practical preventative steps and
guidance. Some rationalization of our markets' infrastructure, for instance, would help improve liquidity - a vital
requirement if the markets are to function effectively and to play their part in delivering the economic growth our
society needs."
The Federal Service for Financial Markets (FSFM) was created in March of this year, following the Cabinet
reorganization instituted by President Putin just ahead of his re-election. It combines most of the functions of two
former Government arms, the Federal Securities Commission and the Anti-Monopoly Ministry. The FSFM will have all the
licensing and oversight functions of the old bodies. It will also regulate pension funds, taking over that role from the
Finance Ministry.
Note to Editors
The final structure and remit of the FSFM are still to be announced and it is expected that it will have rule-making
powers. It will also seek to rationalize some of the existing legislation and regulation covering the activities of
securities markets participants and banks.
The FSFM is headed by Oleg Vyugin, formerly Deputy Chairman of the Central Bank, responsible for monetary policy.
Vladislav Streltsov - Biographical details
Vladislav Yurievich Streltsov, 35, was born in Chelyabinsk. In 1990 he graduated from Yaroslavl Military Finance
School, serving in the Armed Forces until 1994, when he became Head of the Accounting and Settlement at Voctochno -
Evropeiskiy (East-European) investment bank, rising to Deputy Chairman in 1998.
In 1998 he moved to the RTS Stock Exchange as Director of the Analytical Department, becoming Chief Financial Officer
at the RTS Technical Center in 2001 and Vice-President of the Exchange.
>From 2001 to 2003 Mr. Streltsov served as Chairman of the RTS Settlement Chamber. In 2002 he was elected first VP of
the RTS Group, responsible for finance. In June 2003, the RTS Stock Exchange Annual Partnership Meeting elected him
President of the RTS Stock Exchange.
Vladislav Streltsov was also Chairman of the Association of Futures Markets (AFM) last year, the umbrella body for
the world's leading futures exchanges and clearing organizations. The Federal Service for Financial Markets
For further information, please contact: Nikolai Jour, Moscow, tel: +7 095 774 4176 or jour@rtsnet.ru. Bill Stokoe,
London, tel: +44 (0) 7768 124 685 or bstokoe@ansdellconsult.com
[PR Newswire (Europe)] |
RUSSIA IN FACTS
