MOSCOW—Russian President Vladimir Putin has signed into law a number of measures to amend the country’s securities, banking, and other legislation to make the Central Bank a “mega-regulator” of financial services.
Notably, the Russian securities regulator has been dissolved, and its powers will be assumed by the Central Bank effective September 1, 2013.
Putin signed Decree No. 645, dated July 25, 2013, to liquidate the Federal Financial Markets Service, known under its Russian acronym FSFR.
The president also signed Federal Law No. 251-FZ, dated July 23, 2013, on amendment of the Russian legislation in connection with the transfer of powers ...
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