FINRA allows Russia’s BCS to buy US broker from Alfa-Bank

MOSCOW, Jun 7 (PRIME) -- The U.S. Financial Industry Regulatory Authority (FINRA) has approved a purchase by Russian financial group BCS of New York broker Alforma Capital Markets from Alfa-Bank, BCS said in a statement Tuesday.

Other details of the deal were not provided.

BCS expects to close the deal, which will mark an official launch of operation at the U.S. capital markets, in several weeks. The company plans to provide brokerage and investment services to institutional and corporate investors, who want to receive access to the Russian stock market from the U.S.

Currently, BCS has offices in Cyprus and London.

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