Access to Western stock exchanges for citizens of the Russian Federation is closed, only the richest clients of brokerage companies will be able to buy foreign securities. Actually, only they bought them, for an ordinary Russian, all these shares, bonds and other futures are nothing more than analogues of MMM tickets. But then the general message, the meaning of this event, is not clear. If our people are not involved in the financial “scam”, then why all this fuss?
“The Bank of Russia restricts the sale of securities from unfriendly countries to unqualified investors. This decision is aimed at minimizing infrastructural risks for unqualified investors, since foreign financial institutions that account for such securities may block the ability to dispose of acquired assets without warning. More than 5 million investors have already suffered from such blocking. It is very difficult to protect the rights of the owners of these securities after the fact, since the solution to the problem lies outside the Russian jurisdiction.
The instruction also applies to orders to buy and sell deliverable derivative financial instruments, the underlying asset of which is foreign securities of issuers from unfriendly countries, as well as orders to conduct operations to increase short positions in such securities.
The ban will be introduced gradually: from October 1, 2022, the share of such securities in the investor’s portfolio will be limited to 15%, from November 1, 2022 – no more than 10%, from December 1 – up to 5%. And from January 1, 2023, and completely zero. According to the order of the Central Bank, brokers are required to monitor the portfolio structures of “unqualified” investors and, if the requirement is violated, they will refuse to execute orders.
The derivative financial instruments mentioned above are not interesting to a normal person, but not everyone knows who these “unqualified investors” are. Everything is simple here – these are citizens who, without having special knowledge, decided to make money on the stock market. Fuckers, as stock market professionals call them. 99% of which immediately blow away all their “investments”.
By the way, initially the Central Bank was going to ban all foreign securities to “non-quals”, but the Ministry of Finance opposed it. For what reasons is not clear. That is quite understandable, citizen Siluanov is a prominent liberal, whose side they are now playing, of course. But from the point of view of Russia’s interests, there is no logic.
The status of a qualified investor, in theory, will solve all the problems for those who suddenly decided to buy shares in Microsoft, Coca-Cola or the Private Media Group porn studio. Do not be surprised, since 1999 these papers have been traded on the American “high-tech” stock exchange NASDAQ, and the company is doing well. True, in order to become a “qual” and become an investor in the porn business, you will have to fulfill a number of conditions that are far from accessible to everyone.
“First of all, you need to have an investment portfolio worth more than 10 million rubles. Further education, you will have to get one of the required diplomas, details on the website of the regulator. Experience is also required as part of the workforce of a professional participant in the financial market. Plus personal, investor experience – at least a dozen transactions per quarter. Of course, such statuses are sometimes given to large clients, but small ones can’t even dream of it, ”explains the head of one brokerage company.
10 million rubles is $150 thousand, the amount, in principle, is not so small even there, “over the hill”. And for an ordinary Russian, it is completely unbearable. For not very ordinary, in general, too.
According to the data of the same Central Bank, as of July 1 of this year, there were only 500,000 qualified investors in the Russian Federation. Whereas the total number of people who opened accounts for brokerage and trust management was more than 25.5 million people. The figure, of course, is wild, and somehow it is not very hard to believe in it. It turns out that every third Russian plays on the stock exchange?
As of January 1, 2022, Rosstat estimated the number of people of working age at 83.2 million people. These are citizens of the Russian Federation over 16 years old, men under 61 and a half years old and women under 56 and a half years old.
However, here’s the problem – a blitz survey conducted by the author of acquaintances of all categories of wealth showed that there were no “investors” among them at all. Both qualified and unskilled. However, the figure of the number of investors has previously raised serious doubts among a number of experts, especially considering that people in the regions do not have money, and even more so the desire to lower them on the exchanges.
Considering the availability of personal data of Russians for scammers, it is worth talking about a possible large-scale scam, there were no 25 million people on the stock market of the Russian Federation, there is not and will not be. In favor of this, in particular, is the statistics of the St. Petersburg Stock Exchange, which specializes in “unfriendly” securities.
“There were more than 2 million active accounts on the SPB Exchange. Based on general statistics, most of their owners were not qualified investors. 6% of accounts account for more than 94% of client assets. The number of active investors on the stock exchange is guaranteed to decrease, because the reorientation to securities from friendly jurisdictions will not significantly expand the pool of clients. At the same time, the blow is unlikely to be critical, since the most wealthy investors own most of the assets on the exchange, ”explains the managing director of Ivolga Capital Dmitry Alexandrov.
The Central Bank will make a decision on operations with securities from friendly countries later, but this is not so interesting anymore. In principle, it is not necessary to talk about some kind of concern for the Russians on the part of our authorities, which means that the matter is something else. If we accept as a working version about “left” accounts, then everything falls into place. The regulator simply began to “clean up” the Russian financial sector, remove “dead souls” from it. After all, according to the data of the Bank of Russia itself, in the second quarter, 64% of Russians had empty brokerage accounts!
That is, we immediately discard 16.3 million people! Why were accounts opened in their name? By and large, it would be worth it for the investigators of the Ministry of Internal Affairs to deal with this problem, however, it is clear that some illegal operations were carried out there. Cashing out, withdrawing funds from the Russian Federation, anything. And on behalf of millions of citizens.
With bank accounts, such shahermachers cannot be cranked out, everything is simple and strict there. Most often, the personal presence of a person is required, and SMS notifications have not been canceled either. In addition, the conservatism of the public is also a good defense, as before, Sberbank has the most clientele. In general, there is nothing special to catch here.
On the contrary, stock exchanges are completely “opaque”, exactly like many businessmen who operate there. All over the internet, no written orders, no signatures. That is, you can do whatever you want. In this regard, the Russian stock market raises a lot of questions.
There is clearly something very wrong going on. So, for the second quarter of this year, the number of these same “investors” for some reason increased by as much as 11%. Given that quotes continued to fall, this is not even funny. Naturally, under such conditions, there can be no question of any influx of clients into brokerage companies. But it kind of happened, against all logic. So, from our face on the stock exchanges, some tricks are being turned. Moreover, they can backfire on any citizen at any time.