Last year, the Prosecutor General’s Office of Russia promised to work actively to “clean up” unlicensed brokers. The work to restrict the activities of such companies on the territory of the Russian Federation continues to this day.
Blacklist of brokers was supplemented by about ten sites that were used for illegal activities in the financial sector. OTC companies’ domains are blocked without any specific action plan. Experts note that the Attorney General’s Office has taken a total approach to the “cleansing” of brokers, so the restrictions may affect each firm that does not have a license of the Central Bank of Russia. In this case the place of registration of the company does not matter if it serves traders on the territory of Russia.
Brokers blocked by decision of the authorities placed information on their websites encouraging citizens to use the financial services of companies without a state license. The official reason for restricting activities is a violation of the law “On Information, Information Technology and Information Protection”.