On the revocation of banking licence and appointment of provisional administration
By Order No. OD-413, dated 26 March 2014, the Bank of Russia revoked the banking licence of the Moscow-based Non-bank credit institution Clearing Centre Energy Business, a limited liability company (NCI Energy Business LLC) (Registration Number:
The Bank of Russia took such an extreme measure — revocation of the banking licence — because of the credit institution’s failure to comply with federal banking laws and Bank of Russia regulations, taking into account the repeated application over the past year of measures envisaged by the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’.
NCI Energy Business LLC violated the accounting procedure and failed to ensure the proper internal controls. Moreover, the credit institution violated Bank of Russia regulations in the field of countering the legalisation (laundering) of criminally obtained incomes and the financing of terrorism. The internal control rules of NCI Energy Business LLC in this field did not correspond to the Bank of Russia’s requirements. The credit institution was involved in dubious cash and cashless transactions, the amount of which exceeded 4.0 billion rubles in 2013.
In pursuance of Bank of Russia Order No. OD-414, dated 26 March 2014, a provisional administration has been appointed to NCI Energy Business LLC for a term until the appointment of a receiver in accordance with the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ or a liquidator in accordance with Article 23.1 of the Federal Law ‘On Banks and Banking Activities’. In compliance with federal laws the powers of the credit institution’s executive bodies have been suspended.
As of 1 March 2014, NCI Energy Business LLC ranked 875th in the Russian banking system in terms of assets.The reference to the Press Service is mandatory if you intend to use this material.
26.03.2014 00.00.00