19 July, AtoZForex – Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN) has been going through certain transformations recently. It has announced today that CRFIN NAFD rebranding took place.
What is CRFIN?
CRFIN is a partnership which aims to make Forex market a rightful member of the Russia’s financial industry. Earlier this year CRFIN applied for the status of a self-regulatory organization. It develops and implements regulatory standards which apply to the activities of CRFIN members. It supervises their compliance and performs analysis of their activities.
CRFIN NAFD rebranding details
Russia’s SRO previously famous as CRFIN announced today that it has rebranded as National Association for Forex Dealers (NAFD). The decision was made last Friday during the General Meeting of the Association members.
The change in name is not the only news. The association has also revealed that Board of Directors will be created and Andrei Lisitsyn will become a Chairman. The new appointments will include Vadim Aleksandrovich Vynogradov (board member), Ilya Vladimirovich Volkov (member of the Board of Directors of the Forex Club), and Aleksandr Sokologorsky (General Director at VTB 24 Forex).
Also, the new members’ lost representing the banking and financial groups will include Vadim Marsovich Faizullin (Head of Customer Service at Nefteprombank) and Kirill Ageev (Managing Director of BCS Forex).
The new Chairman of NAFD Andrei Lisitsyn commented on the CRFIN NAFD rebranding as following:
“The main objective of the Association since its inception has been to build the foundations of a civilized regulated OTC market margin instruments against unfair practices, increasing market transparency.
Today, with the foundations of the legal framework regulating the activities of the industry laid, our work goes into a new quality, which is reflected in the new name and decisions. We have created a stable and powerful self-regulating organization that can not only combine the holders of the relevant licenses, but realize the development of national standards activity OTC financial markets while taking into account the peculiarities of all its segments.”
See also: Russian Forex Law for traders toughened – Details
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