A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 130 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 70 countries worldwide.

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Roundtable 3.2. Fair Competition on the Financial Market: Countering Illegal Participant
8 June 2018
14:45—16:15
The presence of dishonest competitors on the market renders it opaque, slowing its development by discouraging private and institutional investors. This eventually impacts the economy of the nation as a whole. The shadow financial market disrupts the competitive environment and makes the services of legal market players more expensive. The absence of licensing/accreditation/special status for financial market participants violates consumer rights by bringing high-risk activity out of the safety of a legal framework. Moreover, it subjects responsible market participants to unequal competitive conditions. Illegal participants also damage people’s confidence in responsible participants and in the market as a whole. This aspect can neutralise the efforts of regulators and market players to forge a quality reputation for the domestic financial market.
• What influence does the shadow market for financial services have on the economy at the regional and national levels?
• What practical innovations in identifying and suppressing fraudulent activity can be employed both by regulators and by professional participants?
• What is the true scale of losses experienced by legal financial market players as a result of fraudulent activity?
• How can market participants work with regulators to counteract dishonest behaviour on the financial market?
• What changes to legislation could help swing the balance of power?
• Could modifying standards in the financial sector render the work of the fraudsters unprofitable?
• Is it possible to squeeze illegal players out of the market by making qualitative changes to the operations of professional participants, the market as a whole, and legislative and executive authorities at the local level?
Date
08.06.2018
Forum
International Financial Congress
Started at
14:45—16:15
Conference hall
Manege Central Exhibition Hall, Roundtable hall 1 (first floor)
Analytics on the topic