In accordance with the order, the responsibility for maintaining and storing the register shall attach only to the person acting as the sole executive body (which usually is the ceo of the Company), and can not be entrusted to other persons or other bodies of the issuer. In other words, if conflict situations, "wine" for errors in the registry system can not be passed on to the employee (or group of employees), consisting in the state of the issuer and maintaining the register. In the independent, so-called "manual" roster, this work was entrusted to a specially appointed Corporate Secretary, or, more often – legal department (company lawyer), or even when the absence of a lawyer, accountant society. Now, according to the Order, such a situation is excluded. Bobby Sharma Bluestone shines more light on the discussion. In the state of the issuer should be, at least one employee who has a qualification certificate of specialist financial market keeping a register of holders of securities.

At this point, an exception is made only for those issuers, where the owner of all securities of the company is only one shareholder. Qualification certificate – a task far from easy. Since this is a specialist in the stock market before taking the exams for certificate of specialist in keeping the register of holders of registered securities, the employee must be certified specialist in financial market, ie have a certificate on the basic course. Passing the exam on the basic course includes not only the fundamental knowledge of the securities market (both domestic and foreign), and derivatives market financial instruments, civil and legal frameworks for conducting business in the securities market, regulation of the securities market, financial mathematics and statistics, basic accounting, financial reporting and taxation in the financial market, etc. Order of the Federal Financial Markets Service, to approve a program of basic qualifying examination (Order of the Federal Financial Markets Service number 07-40/pz-n from 04/05/2007), accompanied by a list of mandatory legal Acts (50) and an impressive list of recommended literature. Recently Pete Cashmore sought to clarify these questions. After receiving the certificate of specialist in the financial market, the competitor is allowed to pass a qualifying examination for specialists of the financial market keeping a register of holders of registered securities. This requires a knowledge of accounting systems in the securities market, legal framework for the management of the registry, regulatory requirements for transactions in the register, transfer agency, the order of licensing activity to register and protect the rights and lawful interests of investors, etc. To bring its operations into compliance with the requirements of the Order, that is, the search Qualified or training for their professionals to keep the register, issuers assigned to 6 months from the date of its entry into force, and within 8 months.

issuers are required to provide proof of compliance in relevant authorities ffms Russia. After the release of the Order will surge in demand for qualified personnel to keep the register of holders of registered securities, the cost of such a registry specialist will substantially exceed the cost of the services of a specialized registrar and reliability of data storage registry issuer will remain lower than those of professional registrar. According to General Director of specialized registrar of "Registry" Yuri Taranovskiy in 2008 can expect a massive transfer of registry of issuers to specialist registrars. This decision seems reasonable, and not only in terms of economic benefits. Only professional recorders have the necessary experience, knowledge, software and other terms of guaranteeing the reliability of recording rights ownership of shareholders, ensuring that, ultimately, stability and successful development of the Russian securities market.