Qualified and non-qualified investors of the securities market

The article provides an overview of the main system of categories of investors in the modern financial market of the Russian Federation, which includes qualified and non-qualified investors. The  volume of requirements for qualified investors in the securities market and persons who have the right to recognize qualified investors has been investigated. Also provided is a list of Russian and international organizations that are qualified investors automatically in accordance with Russian law.
The latest changes in the securities market relating to the classification of investor categories are presented. Considered are new proposals and projects of the mega-regulator of the financial market of the Bank of Russia on changing the categories of investors: the introduction of a new category of professional investors, tightening requirements for the recognition of qualified investors and limiting the activity of non-qualified investors in types of transactions and financial instruments. 
The reaction of the professional community of the securities market to stricter requirements for qualified investors has been investigated. The trends and development of the securities market are analyzed after the introduction of a new system of categories of investors and tightening of the requirements for them.