Last finance broker in Crimea stopped working


The only broker company that received a Russian license stopped working in the Crimea. It was reported by Kommersant newspaper.

Thus, the only broker in the Crimean financial market has voluntarily given up its license, received 2 years ago. Representatives of the company said that they could not comply with Russian regulatory requirements. In addition, the brokers were affected by the nationalization of the main objects in the peninsula.

“The secondary market in the Crimea died because of sanctions and nationalization. We used to have shares of all major Crimean companies: Krymenergo, Krymgaz, Zaliv, etc. in our portfolio. All of them were nationalized. Shareholders did not receive compensation, and they no longer trust the stock market,” said General Director of the East-Crimean stock company Igor Smorodsky.

East-Crimean stock company worked in Crimea for 18 years in Ukraine, but 2 years after the annexation it gave up its license. Before the annexation there were 22 broker companies in the Crimea.