The RAFMM Council

The Charter of the Russian Association of Financial Market Members (RAFMM) involves a collegial body establishment - the RAFMM Council along with the sole executive body - President. This body carries out consulting activity and consists of the Executive Board members.

The Association's collegial body exercises powers regulated by the RAFMM Charter within the limits of its competence.

Among the Council members and with the President's participation the Committees members are selected, who responsible for the RAFMM performance concerning the most active lines of financial market functioning. Herewith, the same Council member can be a participant of several Committees. The number of the RAFMM representatives in the Council is determined by the license type of the participant issued by the RAFMM. The RAFMM Council appears to be the main negotiation ground of the Association and body for pre-court examination of participants disputes.

Functions of the collegial body Head - the RAFMM Charter are accomplished by a person who meets the obligations of a sole executive body - the President of the Association.

The main function of the high RAFMM Council - is consulting support of different organization activity fields : dispute settlement, the RAFMM services improvement, legal support, information safety and education.

The RAFMM as a noncommercial organization does not have a right to make reward payments to the collegial body members - the RAFMM Council - for their obligations fulfillment, excepting the compensation for expenses directly related to participation in the RAFMM management.