Who is an investment advisor on the Russian currency market? New Amendments

The Ministry of Justice has made amendments to 39-FZ "On the Securities Market" in relation to the requirements for investment advisors.

Investment advisors in the financial market have been further regulated

An investment advisor can now be considered an individual entrepreneur with higher education who has:

• or have a NAUFOR 1.0 qualification certificate for brokerage, dealer or securities management activities, as well as for activities in the foreign exchange market,
• or there is a qualification "Specialist in Financial Counseling" according to the classification of the Ministry of Labor of the Russian Federation.

In terms of professional experience is required (does not apply if there is an international certificate):

• experience in transactions with securities or contracts that are financial derivatives, financial market analysis, financial market risk management, consulting services with respect to securities (or financial derivatives);
• or have professional experience in making at least 10 transactions per quarter on average with securities (or PFI), but not less than 1 transaction per month for 4 consecutive quarters over the last 5 years for a total amount of not less than 6 million rubles.

Exchange experience must be obtained as an employee in a company that is a qualified investor and be at least 2 years in the last 5 years, or not, but with 3 years of experience in the last 5 years.

Including the investment advisor candidate could have worked as a sole proprietor in providing financial intermediation advisory services for 2 of the last 5 years.

If you meet all the requirements, the trader will be able to give investment advice on a legitimate basis.

Read financial markets news in your Telegram. Subscribe to the Fortrader channel.