The imposition of stricter regulations by Russia’s Federal Financial Markets Service made yet another professional stock market player YAVA Finance Management quit the business. The company has already applied to the Service, asking to annul its license. The application has already been accepted.

The investment company’s owners (the most important of whom is Uralsky Mezhregionalny Bank, a member of YAVA Corporation) made their decision because of the need to slim down their business and because the Service’s regulations grew harder to comply with. One such regulation has to do with the increased capital adequacy demands, Uralsky Mezhregionalny Bank’s Financial Markets Director Konstantin Selyanin told UrBC. Selyanin used to run YAVA Finance Management, in fact.