Bank of Russia obliges non-banks to join officially recognised self-regulatory bodies

Bank of Russia
The Bank of Russia

Russia's central bank will oblige all the country's non-bank financial institutions to join one of seven self-regulatory organisations (SROs) dealing with different sectors of the market, it has announced.

The Bank of Russia placed seven established groups on a single register of SROs on March 10, it said in a statement. All non-bank financial institutions must join one of the organisations, the central bank said.

It added that non-profit organisations set up to act as self-regulators were not

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