The agency covered securities issuance, trading, supervision of exchanges, issuers, professional market participants and their Self-Regulatory Organisations; the Russian Federation Pension Fund; the State management company.

A major social role of FFMS was to promote public understanding of securities laws and their practical application.

On September 1, 2013, the service was abolished and its functions transferred to the Central Bank of Russia in accordance with the Presidential Decree number 645 25.7.2013.

His four deputies was: Vladislav Streltsov, Sergei Kharlamov, Bembya Khulkhachiev and Vladimir Gusakov.

The FFMS had 13 regional authorities:[3] in St. Petersburg, Ekaterinburg, Novosibirsk, Nizhny Novgorod, Rostov, Vladivostok, Krasnoyarsk, Oryol, Omsk, Samara, Chelyabinsk, Saratov and Irkutsk.