"Finam" is fighting for the name
“Finam” does not give up in the struggle for the right to be called an investment bank. To get closer to the goal, the holding renamed its Megawattbank into Finam Investment Bank, the Vedomosti newspaper reports.
Previously, the group tried to name its new division, but it did not succeed - there were disagreements with the Central Bank, which stated that it did not register a credit organization with such a name and did not issue a banking license to it. At the same time, the Central Bank appealed to the Prosecutor General’s Office with a request to check whether Finam was carrying out illegal activities.
According to Vladislav Kochetkov, the head of the press service of the holding, “Finam” was forced to stop calling its motto as an investment bank, and it remained with the short name “Investment”. At the same time, they decided to give a new name to the bank included in the holding structure. “Now there is confidence that the Central Bank will have no reason to complain,” said Vladislav Kochetkov.
')
It is worth noting that “Finam” applied for explanations regarding disagreements with the Central Bank to the Federal Service for Financial Markets (FFMS). And there they noted that the law forbids calling a company without a reason for a bank, but not its structural subdivisions. Thus, the Federal Financial Markets Service does not consider that the holding violated the law, calling the division a bank.
At the same time, the FFMS informs that it is hardly advisable to introduce a special license under the phrase “investment bank”, since this concept is not a specific type of business. “It makes sense to expand the capabilities of ordinary licenses to professional participants - so that Russian investment institutions can provide their clients with a wide range of services and in fact be a world-class“ investment bank ”, said service representatives.
Now in the announcement on the bank’s website, which already carries all the signs of the rebranding, it is said that the name change was “a consistent step in creating a single financial holding capable of providing its customers with unlimited possibilities in managing their funds and developing their business.” The Central Bank has already registered a new name for this structure.
Dmitry Serebrennikov, Head of the Investment Division, stressed that the team of top managers of the bank and the holding is one. According to him, the basis for the holding is still investment banking.
Previously, the group tried to name its new division, but it did not succeed - there were disagreements with the Central Bank, which stated that it did not register a credit organization with such a name and did not issue a banking license to it. At the same time, the Central Bank appealed to the Prosecutor General’s Office with a request to check whether Finam was carrying out illegal activities.
According to Vladislav Kochetkov, the head of the press service of the holding, “Finam” was forced to stop calling its motto as an investment bank, and it remained with the short name “Investment”. At the same time, they decided to give a new name to the bank included in the holding structure. “Now there is confidence that the Central Bank will have no reason to complain,” said Vladislav Kochetkov.
')
It is worth noting that “Finam” applied for explanations regarding disagreements with the Central Bank to the Federal Service for Financial Markets (FFMS). And there they noted that the law forbids calling a company without a reason for a bank, but not its structural subdivisions. Thus, the Federal Financial Markets Service does not consider that the holding violated the law, calling the division a bank.
At the same time, the FFMS informs that it is hardly advisable to introduce a special license under the phrase “investment bank”, since this concept is not a specific type of business. “It makes sense to expand the capabilities of ordinary licenses to professional participants - so that Russian investment institutions can provide their clients with a wide range of services and in fact be a world-class“ investment bank ”, said service representatives.
Now in the announcement on the bank’s website, which already carries all the signs of the rebranding, it is said that the name change was “a consistent step in creating a single financial holding capable of providing its customers with unlimited possibilities in managing their funds and developing their business.” The Central Bank has already registered a new name for this structure.
Dmitry Serebrennikov, Head of the Investment Division, stressed that the team of top managers of the bank and the holding is one. According to him, the basis for the holding is still investment banking.
Source: https://habr.com/ru/post/4453/
All Articles