Wednesday, June 1, 2011

Federal Financial Markets Service has lost the "fourth power»

Orders Federal Financial Markets Service on sanctions to the insurers can not enter into force - the service is not agreed to the mandatory publication of which was previously strahnadzor organized in the Financial Gazette. Wrote on Wednesday, May 11 edition of The Gazette. " Transfer of insurance supervision from the name of the federal service under the jurisdiction of the Federal Financial Markets Service (FFMS) is partially paralyzed regulation of insurers. The fact is that without publication in the official orders of the regulator body strahnadzora documents are invalid and can not enter into force. When revoke, and renew the license of the Federal Service for Insurance Supervision (FSIS), its orders were published in the official organ of the Ministry of Finance - "Financial Gazette. Federal Financial Markets Service in April 2011 suspended the licenses of several insurance brokers and companies, has issued several licenses for additional types of insurance, to make changes in the license, renew it. Verdicts almost came to a total of 20 insurers. Last year, FSIS, according to the regulator, revoked the licenses of 112 insurance companies and brokers, 11 of them are refused a license. On January 1, 2011 in the register of insurers were listed 618 companies. According to the law on insurance business order shall come into force 10 days after publication, but it turns out that the sanctions against the Federal Financial Markets Service until the insurers have no real power. This is confirmed by the representative of the Federal Financial Markets Service. Organ of Federal Financial Markets Service has not been determined, but negotiations with the financial newspaper "go - soon there will be printed orders of service, soothing a customer service representative. Decision to revoke and suspend licenses of insurance companies, previously adopted Russian Federal Financial Markets Service, do not come into force and will be reviewed again, added a customer service representative.

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