The circle of these millionaires is narrow – Newspaper Kommersant No. 239 (7440) of 12/23/2022
[ad_1]
As it became known to Kommersant, the property qualification for obtaining the status of a qualified investor may turn out to be less stringent than expected. Market participants say that the Central Bank of the Russian Federation, which previously insisted on a threshold of 30 million rubles, is now ready to agree to 15-20 million rubles. However, this bar is still 2.5-3 times higher than the current requirements, and its introduction may negatively affect the activity of investors, brokers emphasize. On the whole, they are against tightening market access conditions, even suggesting expanding the list of instruments currently available to unqualified investors.
The Central Bank softened its position on the property qualification to obtain the status of a qualified investor, which is planned to be introduced in the first quarter of 2023, sources told Kommersant in the market.
If initially the Central Bank proposed to raise it from 6 million to 30 million rubles, now the bar is being discussed at 20 million rubles, two interlocutors told Kommersant. Another source of “Kommersant” claims that we are talking about 15-20 million rubles.
Qualified investors have the right to purchase structured bonds, foreign shares without restrictions, make margin transactions, use other complex financial instruments. Now, in order to obtain such a status, one must meet one of the criteria: to have at least 6 million rubles. in the form of assets, conclude transactions on average at least ten times a quarter, but at least once a month for a total amount of at least 6 million rubles. For unqualified investors, a limited range of complex instruments is available only after testing. In addition, tougher restrictions on their purchase of foreign securities came into force on October 1.
According to the Central Bank, as of September 30, the number of qualified investors in brokerage services in non-banking financial institutions (NFIs) was almost 207 thousand people, in banks – more than 311 thousand people, with a total number of individuals served by 27.3 million people. Assets on qualifiers’ accounts in NFOs were estimated at RUB 1.44 trillion. (75% of the total), in banks – 3.96 trillion rubles. (62%).
At the same time, the Central Bank emphasized that the property qualification is only one of the criteria, and “far from the most effective”. “The very concept of qualification is, first of all, the educational level and experience, and not a certain amount of one’s own or borrowed money,” the Bank of Russia explained to Kommersant.
Therefore, the plans include the inclusion in the criteria of any economic education received at a state university. The possibility of taking into account legal education is also discussed.
The size of the property criterion can be used in conjunction with a specialized education. In addition, the Central Bank clarified, the idea of a “special qualification exam as an alternative criterion” is being discussed.
Market participants and experts interviewed by Kommersant negatively assess the tightening of qualification requirements as such, even taking into account the softening of the monetary qualification. Qualinvestors are fundamentally important to brokers, explains Anna Avakimyan, chief analyst at RegBlok. Firstly, this is a high average check, secondly, the involvement of a much wider palette of investment instruments, and thirdly, higher customer loyalty and motivation to improve the user interface and algorithms. “The point is not that the broker’s earnings in some category are more or less, but that investments are the only tool for long-term capital preservation, and restrictions simply undermine the long-term prospects of investors,” says the director of the BCS Mir brokerage business. investments” Oleg Chikhladze.
However, another market participant believes that the property qualification is the most painful criterion for clients. The actions of the regulator to tighten access to high-yield and risky instruments are understandable, admits Evgeny Vorobyov, head of the credit analysis department of Ingosstrakh-Investments Management Company, however, “even 20 million rubles. – high bar.
The tightening of the criteria “is poorly argued by the Central Bank, has little to do with current events and leads to a decrease in the already small volumes of the market,” agrees NAUFOR President Alexei Timofeev. Andrey Salashchenko, Deputy General Director of Otkritie Investments, believes that one should “more consider not the situation with the criteria for recognizing a person as qualified, but pay attention to the list of available tools, how reasonably access to a particular tool is limited.”
[ad_2]
Source link
