Unified Register of Financial Market Participants (ERUFR)

2024: The Central Bank of the Russian Federation launched an API service that allows you to receive data on financial market participants automatically

The Central Bank of the Russian Federation has launched an API service that allows you to receive data on participants in the financial market in an automated mode. The press service of the regulator announced this on March 4, 2024.

The new tool provides information similar to that published in the Check Financial Market Participant service. In particular, the API solution will allow you to display such up-to-date information about financial market participants as:

source = CBR

• general information about financial market participants (name, registration data, contact information, etc.);
• information on the right (license) to operate in the financial market;
• information on divisions of credit institutions.

Information can be obtained from the registration data of a market participant, by the type or type of his activity, by the subject of the Russian Federation, by the presence of a license for a specific date, the Bank of Russia said in a statement.

Participants in the Russian financial market include banks, non-bank credit organizations (NPOs), non-state pension funds (NPFs), insurance organizations (SOs), management companies (MCs), professional securities market participants (including brokers, dealers, investment advisers), financial platform operators (OFPs) and other financial service operators, microfinance organizations (MFOs), cooperatives (ZHNK, KPK K), pawnshops, credit bureaus, etc. All organizations that provide financial services must receive permission from the Central Bank to allow work in the market. This can be a license, inclusion in the register or accreditation. On the website of the Central Bank there is a service that allows you to check the legality of the work of a financial organization.

API Service Link for Financial Market Participants

2021: Creation of a single register of financial market participants

At the end of April 2021, the Central Bank of Russia announced the creation of a single register of financial market participants (CERUFR), which, according to the regulator, will increase the efficiency of accounting and providing consolidated data on the activities of participants in this market and reduce their costs.

The Central Bank believes that the new initiative will make it possible to provide consolidated information about the participants in the financial market, refuse to provide the Bank of Russia with a hard copy license in favor of making an entry on the provision of a license (certificate) to the RUFR and sending the financial institution an extract from the specified register confirming the right to carry out activities (operations) in the financial market. The entry contained in the open electronic register will become a legally significant confirmation of the license.

The Central Bank of the Russian Federation is developing a single register of participants in the financial

It is noted that by the end of April 2021, work on the creation of the ERUFR has already begun. By this time, an appropriate IT infrastructure is being formed and draft regulations of the Central Bank are being developed. The portal of public services published information on the automatic formation of extracts from the registers of financial organizations.

Earlier, the first deputy chairman of the Bank of Russia, Sergei Shvetsov, said that the regulator was preparing for a reform of the admission of financial organizations to the market: instead of disparate requirements for applicants, it is proposed to introduce a single approach for everything. To do this, the regulator intends to group organizations by type of activity and allow them to work, taking into account industry specifics. A similar principle is already being used in South Korea, Shvetsov reported.

According to him, before the regulation of the admission of players to the financial market was "patchwork," and some segments of the financial market had their own supervisory authorities.^[1]

Notes