The Federal Financial Markets Service in 2011 cancelled 578 securities broker/dealer licences, the regulator’s head, Dmitry Pankin, told reporters.

Of that amount, 232 licences were cancelled following inspections and investigations.

Another 67 licences were cancelled for violations of licence requirements, such as the size of owner equity, spotted by a monitoring system. Twenty five institutions that were stripped of banking licences also lost their broker-dealer licences. And 254 securities broker/dealer companies handed in their licences of their own accord.

According to Pankin, the regulator issued 228 licences this year, including 63 broker and 64 dealer licences, 66 asset management licences, 34 securities custodian licences, and one exchange trading licence.