Merger of two financial agencies to strengthen regulation on the Russian financial market

Vladimir Milovidov, the director of the Federal Financial Market Services Agency (FFMSA), believes the presidential decree authorizing the merger of the Federal Insurance Regulatory Agency with FFMSA will strengthen regulations on the financial services market.

“This decision is important for our financial system, from the point of setting up an international financial center in Moscow. This decision that will boost regulations on the market,” he noted. “Within two months we should complete all the necessary procedures and release the official action blueprint.”