Russia’s Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), an FX body seeking to obtain official status as a Forex self-regulatory organization in Russia, has named Andrey Lisitsyn (pictured at left) as its new President.
Lisitsyn graduated with a PhD in law from Russia’s National Research University Higher School of Economics. He has worked for a number of years for several leading corporate and governmental bodies in Russia including acting as head of the division in the Settlements Regulation Department at the Bank of Russia, a senior tax consultant at PwC’s Moscow branch, and as Associate Professor at the Financial University under the Government of Russian Federation.
However Lisitsyn’s most recent role was as Director of Compliance at Alpari, the leading market share retail forex brokerage in Russia.
(In fact, his LinkedIn profile still shows him at Alpari).
Interestingly, Alpari and #2 Russian forex broker Forex Club have to date been denied a Retail FX Broker License by the Bank of Russia, which the country’s new Forex Law requires as of January 2016. To date only 3 FX licenses have been awarded by the Bank of Russia – to TeleTrade (the #3 broker in the country after Alpari and Forex Club), TrustForex and FINAM Forex.
The CRFIN announcement can be seen here.