Central bank insider selected to run Russia's new ‘mega-regulator'

Bank of Russia

Sergey Shvetsov, a member of the Bank of Russia's board of directors, has been picked to head up Russia's Financial Markets Service (FMS), the new ‘mega-regulator' responsible for overseeing the country's financial markets from September 1.

The Bank of Russia's department of external and public relations said in a brief statement yesterday that Shvetsov had been appointed by governor Elvira Nabiullina, who herself assumed office in June this year.

The set-up of the FMS – which effectively marks

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