Federal Financial Markets Service

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The Federal Financial Markets Service (FFMS, FSFR) (in Russian: Федеральная служба по финансовым рынкам, ФСФР) is a Russian federal executive body which regulates Russian financial markets including securities issuance and trading and supervision of exchanges, issuers, professional market participants and their Self-Regulatory Organisations; the Russian Federation Pension Fund; the State management company. A major social role of FFMS is to promote public understanding of the Securities laws and their practical application.

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[edit] Structure

Headquartered in Moscow, the FFMS is a part of the Russian Government. The FFMS has 14 regional divisions in St. Petersburg, Ekaterinburg, Novosibirsk, Nizhny Novgorod, Rostov, Vladivostok, Krasnoyarsk, Oryol, Omsk, Samara, Chelyabinsk, Saratov and Irkutsk. There are nine Directorates within the FFMS.

From March 23, 2004, to May 10, 2007, Oleg Vyugin was the Head of the FFMS. His four deputies was: Vladislav Streltsov, Sergei Kharlamov, Bembya Khulkhachiev and Vladimir Gusakov. Since May 10, 2007, Vladimir Milovidov has led the service.

[edit] History

The FFMS was established by President Vladimir Putin's Decree No. 314 dated 9 March 2004 "On the System and Structure of Federal Executive Branch Agencies". FFMS received the functions of the former Federal Fund Market Commission of Russia (Федеральная комиссия по рынку ценных бумаг), as well as some responsibilities of the former Ministry of Labour and Social Development of Russia and former Ministry of Antitrust Policy of Russia as well as the Finance Ministry of Russia.

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