Russia Cuts Asset, Income Thresholds for Qualified Investor Status
The Bank of Russia has simplified the requirements for clients of asset managers to obtain qualified investor status, halving the asset and income thresholds to 12 million rubles and 6 million rubles, respectively.
The Central Bank of Russia (CBR) has announced a reduction in the criteria for individuals to be recognized as qualified investors under a simplified procedure.
Under the new rules, a client of an asset management company can qualify by holding assets worth at least 12 million rubles (previously 24 million rubles), or by having an annual income of at least 6 million rubles over the last two years (previously 12 million rubles).
The move is intended to widen access to more complex financial instruments for a broader pool of investors.
Source: MarketTwits