From July 3 to July 5, the XXVIII International Financial Congress (MFC-2019), organized by the Central Bank of the Russian Federation (Bank of Russia), was held in St. Petersburg.
Congress is the largest professional financial event in Russia. Representatives of the Bank of Russia and foreign regulators, international financial organizations, major banks and professional associations of financial market participants, as well as recognized international and Russian experts traditionally participated in this event.
The Congress program distinguished several thematic areas: monetary policy and macroeconomics, banks, insurance, collective investment, professional participants in the financial market, microfinance.
A number of congress sessions were devoted to topics common to various sectors of the financial market. Among them are digital transformation and cyber risks in the financial sphere, the formation of a financial ombudsman and behavioral supervision, the development of human resources in the financial sector, and others.
Michael Boboshko, NAIMA Chairman of the Hedge Funds Committee, took part in the session devoted to collective investments “The Special Depository: Keeping in Step with the Times. What does investor pay for? ”
This session was focused on the main areas of growth for specialised depositories, as well as the current technological infrastructure needs as dictated by the market.
Leading experts in the collective investment market shared their opinions on the new functions that specialised depositories may potentially provide, including outsourcing the functions of client services, such as the back office; possible settlements of client transactions and liabilities by specialised depositories; additional services for insurance companies; and serving other types of clients. The possibility of applying international practices of introducing custodians and fund administrators was also discussed.
The participants payed special attention to specialized depositaries willing to have the rules of trust management registered, and the whether investors need it.
For more info (http://www.ibcongress.com/programme/)