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NAUFOR StandardsNAUFOR members obey standards of professional securities activities adopted by the Association. Standards guarantee the high level of clients' protection and operational efficiency. Standards are adopted by NAUFOR Board of Directors and, in accordance to the Federal Law "On Securities Market", are approved by the Federal Financial Markets Service. Standards become mandatory after approval by FFMS. Today the following standards are in force:
- standards of depository activities Along with mandatory standards NAUFOR developed a wide range of model and example documents. Over the past few years NAUFOR is developing its Code of Conduct which is aimed to enhance professionalism and promote the highest ethical standards in the securities industry in Russia. In addition to federal regulation, the Code imposes rules that will govern the professional activities of NAUFOR members. The Code is also supposed to outline the scope of regulatory activities that can be managed by a self-regulatory organization. The Code will consist of general and specific provisions. Its primary objectives are to support the offering of high quality of services by NAUFOR members, to protect the rights and interests of member companies and their clients, to prevent market abuse and to unify business conduct practices. The Code is being elaborated with close cooperation with FINRA which has been appointed the main regulatory advisor to NAUFOR in its development of consolidated standards for securities market professional activities. |