On Bank of Russia Ordinance No. 3958-U, dated 9 February 2016

The Bank of Russia issued Ordinance No. 3958-U, dated 9 February 2016, ‘On Amending Bank of Russia Regulation No. 307-P, Dated 20 July 2007, ’On the Procedure of Maintaining Records and Submitting Information on Credit Institutions’ Affiliated Entities’ registered by the Ministry of Justice of the Russian Federation on 2 March 2016 under No. 41293.

Bank of Russia Ordinance No. 3958-U, dated 9 February 2016, has been prepared due to the adoption of Federal Law No. 275-FZ, dated 5 October 2015, ‘On Amending the Federal Law ‘On Protection of Competition’ and Certain Laws of the Russian Federation’, which amends Clauses 2 and 4 of Part 1 of Article 9 of the Federal Law ‘On Protection of Competition’ to specify hallmarks of a group of persons.

These amendments stipulate replacements of wordings for types of businesses such as ’an economic agency (partnership, economic partnership)’ by ’a legal entity’ in the regulation.

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