FINANCE MINISTRY READY to move quickly BILL ON INSURANCE MIS
The Ministry of Finance is ready to quickly advance the bill on insurance brokers MIS from fraud, if NAUFOR confirm their willingness to pay a lot of contributions to the corresponding insurance fund, said Deputy Finance Minister Alexei Moiseev.
“The concept of a fund that will insure against fraud brokers we support … We are the technology of its work talked in some detail: it should be, at least in the first stage, only for IIS (individual investment accounts)”, – said Moiseev reporters in the Duma.
But the main problem, as always, – a source of replenishment of the Fund in a situation where the definitive position of the Ministry of Finance is that “no government money, no money to the Central Bank should not be used there.”
“Now they NAUFOR said they found the source. I, frankly, yet how it will work, I do not understand “, – said the deputy minister.
Earlier, Chairman of the Board of the National Association of Securities Market Participants Alexey Timofeev, said brokers are willing to pay contributions at a high rate and the fund in the amount of 300 million rubles. It can be set up within two years.
“This, of course, have to be charges of brokers, but it must be understood that such charges should not be prohibitive for brokers. Given the fact that the business of this kind of customer accounts to brokers is low-margin nature, that is too large deductions can make it unprofitable. If brokers are ready, it’s good, but, according to our estimates, they could pull 15 times the amount of less than 300 million rubles, “-. Said the deputy minister.
At the same time the Ministry of Finance is ready to quickly make an appropriate bill if NAUFOR confirm that brokers are willing to pay a lot of contributions to the insurance fund.
“If the industry will be presented convincing position that they are willing to pay such high charges, we, of course, the law will promote very quickly,” – said Moses.
However, he said that the proposal on the possibility of contributions to such an insurance fund of the exchange commission was not discussed.
“It’s a tough question, it requires careful consideration. I think it will be difficult to maintain because Exchange is a joint stock company that operates for profit. Why would a society should allocate in favor of someone else part of the profit, I do not really understand, “- Moses stated.
He noted that currently in bankruptcy of honest brokers citizens are protected.
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