CySec and Central Bank of the Russian Federation signed today an updated “MoU” 

CySEC

CySec has issued a press release informing that:

The Cyprus Securities and Exchange Commission (‘CySEC’) signed today an updated Memorandum of Understanding (‘MoU’) with the Central Bank of the Russian Federation (‘Bank of Russia’), following the transfer of the functions of the Federal Financial Markets Service (‘FFMS’) to the Bank of Russia, which now oversees and regulates both the banking and
the securities sector.

The MoU was signed at a special ceremony in Moscow, in the presence of the Presidents of Cyprus and Russia, by the Chairman of the CySEC Mrs Demetra Kalogerou and the Governor of the Bank of Russia Mrs Elvira Nabiullina, during the official visit of a delegation of the Republic of Cyprus to Russia.

The signing of the updated MoU aims to further strengthen ties and enhance cooperation between the two supervisory Authorities, aiming specifically to facilitate the exchange of information and the more effective investigation of potential violations of the legislation governing the securities market.

Furthermore, the MoU manifests the spirit of mutual cooperation between the two regulators,
contributing to increasing the fruitful business ties between the two countries to the benefit of
both national securities markets.

Source: CySec

 

Leave a Comment


Broker Cyprus TopFX