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

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; 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 2,500 people working in Russia and abroad. In addition, it works in close cooperation with 122 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 69 countries worldwide.

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Session 3.4: Identifying Optimal Levels of Regulation and Efficient Oversight in the Securities Market: Theory and Practice
4 July 2019
17:30—18:00
This session will cover key issues for professional market players, including managing regulatory burdens and interacting with the regulator during oversight activities.
In 2018, the Bank of Russia issued a concept covering proportional regulation and risk-based oversight for non-bank financial organisations (NFOs). It worked with self-regulatory organisations and market participants to draw up a roadmap to introduce the concept for securities market players. The implementation of this concept has meant that the Bank of Russia’s principles of and approach to oversight are changing.
Proportional oversight hinges upon the level of risk for organisations which come under scrutiny, as well as the nature and extent of consequences for such organisations if they fail to meet obligations to their customers, the industry, and the market as a whole. Accordingly, when performing regulatory measures, the Bank of Russia currently places an emphasis on a risk-based approach and ensuring a transition to proportional supervision by establishing uniform ways to determine oversight methods, depending on the size, significance, and the risk profile of organisations under scrutiny. At the same time, market participants claim that the supervisory procedures place a significant burden on financial institutions.
In this discussion between the professional community and the regulator, further steps to achieve optimal regulation and risk-based supervision of NFOs will be considered.
Date
04.07.2019
Forum
International Financial Congress
Started at
17:30—18:00
Conference hall
Presidential Library, Conference hall 3 (second floor)
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