New Financial Laws Will Be Adopted in Russia in 2010

Important for Russian economy laws on financial statements, management of affiliates, on central depository and the national payment system will be adopted by the end of 2010, said Russian President Dmitry Medvedev at the St. Petersburg International Economic Forum today. 

These laws "should allow to operate more comfortable on Russian trading floors and make taxation of financial activities more convenient." Size of financial system assets in Russia, despite the crisis, following last year amounted to about 1 trillion. 

"Moscow is already well-developed public financial market, which is drawn to stocks and bonds of many hundreds of issuers. Daily volume of trading has long been measured in billions of dollars. And in derivative securities, Moscow is already among the top ten global markets. Thus, our market is saturated and it is ripe for further growth, "- Medvedev said.