RAFMM’s conformity certificates

According to the organization charter, basic regulations and other regulatory documents, Russian Association of Financial Market Members give conformity certificate to its members and candidates as official participation document of Association. In accordance with Regulation about conformity certificates, company which is a participant or a candidate to Association membership can obtain one of three conformity certificate types. Conformity certificate assignment is regulated. Besides, the company having such conformity certificate is given a right for one, three or five representatives to attend RAFMM’s council, depending on certificates category.

A–type conformity certificate (the highest confirmation category).

A–type conformity certificate is issued to companies –participants of RAFMM, who besides status, weight, work experience and reputation on the international financial market, have licenses to the financial–investment activity, given by two regulated organizations at least. According to regulations, companies – owners of the A–type conformity certificate must besides the FCSM license to have at least one license, given by the international regulatory body or institution, such as FSA (UK), NFA (USA), FSA (Japan), CYSEC (Cyprus).

B–type conformity certificate (Associations permanent member).

B–type conformity certificate is issued to companies having FCSM license for the brokerage but not having international regulators license. In this case companies – owners of the B–type conformity certificate having regulator’s license, belonged to one of the off–shore countries, have no right to make a claim for status advancement from B–type to A–type.

C–type conformity certificate (Candidate)

C–type conformity certificate is issued to companies who do not have an official license of the financial regulators apart of the country. The license given by offshore country’s regulator is not the reason for the certificate assignment of higher category. Furthermore, company – owners of the C–type conformity certificate is obliged to obtain one of the license’s types in Russia or abroad during 3 years.