Federal Financial Market Service bans FINAM’s operations
The Federal Financial Market Service looked into the results of the scheduled field checks of FINAM Investment Company and Finam Management Company, decided to ban some of the companies’ operations, and insisted on eliminating the violations of the existing laws detected in the companies’ activity.
According to the Service’s report, this decision is by no means a sign of the Service’s negative evaluation of the management and investment companies’ job. The limited bans on certain items related to the performance of unit investment trusts managed by any other company could occur in the future just as well. The Service reports the likelihood of such bans could be predetermined by the high level of state regulation over unit investment trusts.
According to the Service’s report, this decision is by no means a sign of the Service’s negative evaluation of the management and investment companies’ job. The limited bans on certain items related to the performance of unit investment trusts managed by any other company could occur in the future just as well. The Service reports the likelihood of such bans could be predetermined by the high level of state regulation over unit investment trusts.
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