Cbank may raise threshold for qualified investor status to 30 mln rbl

MOSCOW, Jul 20 (PRIME) -- Russia’s central bank has proposed to raise the minimum amount of assets that allow an investor to qualify as a professional one to 30 million rubles from 6 million rubles, Mikhail Mamuta, head of the consumer protection and financial services availability department, told reporters on Wednesday.

"It would be right to raise the assets requirement significantly. We propose (to raise it) from 6 million rubles to 30 million rubles, and the obligations to a broker must be subtracted from the assets value," Mamuta said, adding that only liquid assets should be accounted for.

The regulator also proposed to temporarily forbid non-qualified investors from buying foreign securities, Mamuta said.

“It is necessary to temporarily restrict the option of raising positions on foreign securities for non-qualified investors and see how the situation develops,” he said.

The central bank said separately that the proposal on foreign securities can be explained by current infrastructure and sanctions risks that may lead to further blocking of the assets of retail investors.

The proposals will be discussed with law makers, market actors and the government.

(55.4370 rubles – U.S. $1)

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