The main concern of the FCSM is “improving corporate governance of Russian companies, promoting their transition to international financial reporting standards, development of the institution of collective investment, particularly mutual funds, tax optimization, investors and market participants”.
[1] FCSM also strives to prevent the manipulation of prices and insider information There are 11 members in the Federal Commission on Securities Market of Russia.
On July 1, 1996, it was completely restructured as the Federal Commission on Securities Market, which is what it is known as today.
Dmitry Vassiliev was chosen by Chubais to spearhead the management of the privatization efforts.
Chubais also had a back-up plan which allowed those managers and workers to purchase 51% of their initiative at a reduced cost.