The main priority of the FCSM activity in 2002 is the creation of necessary conditions for reduction of investment risks
The top priority for the FCSM in 2002 will be the creation of all necessary conditions for reduction of investment risks.
Jan 10, 2002
The top priority for the FCSM in 2002 will be the creation of all necessary conditions for reduction of investment risks. Reduction of investment risks is a key to the development of the capital market. Russian issuers have recently been the significant source of investment risks. The FCSM activities aimed at creating certain business standards will contribute to a more efficient protection of investors' interests in this area.
An important field of work to lower investment risks is enhancement of the regulation in the area of collective investments. The first step in this direction was the adoption of the Federal Law on Investment Funds, setting up uniform regulatory standards for collective investments relations.
Russia's adherence to the WTO should, in the opinion of I. Kostikov, a chairman of FCSM, raise the inflow of investments into the Russian capital market. At the same time, to handle possible negative consequences of Russia being more closely integrated into the global financial market (in particular, higher vulnerability to world financial crisis), the FCSM will strive for the stimulation of the competitiveness of national financial intermediaries business. In 2002 the FCSM will take all necessary measures to improve quantitative and qualitative characteristics of the Russian capital market development. These measures are aimed at enhancing the capacity of the domestic capital market.
Improved capacity of the Russian capital market would lead to further lowering its dependence upon the trends of the global financial market through increased stability provided by the arrival of numerous domestic investors. The plan is to create necessary conditions for more efficient and safer placement of a part of pension reserves within the framework of the pension reform, as well as for more transparent investment process.
"The Commission's sustained efforts aimed at corporate governance improvement and stimulation of Russian enterprises to access the capital market will contribute to expanding enterprises' ability to raise capital at the securities market. We may forecast that securities will become in the nearest 2-3 years a much more important source of financing capital needs", - said I. Kostikov in conclusion.
An important field of work to lower investment risks is enhancement of the regulation in the area of collective investments. The first step in this direction was the adoption of the Federal Law on Investment Funds, setting up uniform regulatory standards for collective investments relations.
Russia's adherence to the WTO should, in the opinion of I. Kostikov, a chairman of FCSM, raise the inflow of investments into the Russian capital market. At the same time, to handle possible negative consequences of Russia being more closely integrated into the global financial market (in particular, higher vulnerability to world financial crisis), the FCSM will strive for the stimulation of the competitiveness of national financial intermediaries business. In 2002 the FCSM will take all necessary measures to improve quantitative and qualitative characteristics of the Russian capital market development. These measures are aimed at enhancing the capacity of the domestic capital market.
Improved capacity of the Russian capital market would lead to further lowering its dependence upon the trends of the global financial market through increased stability provided by the arrival of numerous domestic investors. The plan is to create necessary conditions for more efficient and safer placement of a part of pension reserves within the framework of the pension reform, as well as for more transparent investment process.
"The Commission's sustained efforts aimed at corporate governance improvement and stimulation of Russian enterprises to access the capital market will contribute to expanding enterprises' ability to raise capital at the securities market. We may forecast that securities will become in the nearest 2-3 years a much more important source of financing capital needs", - said I. Kostikov in conclusion.