Corporate Affairs Department
The Corporate Affairs Department manages the admission of securities to the financial market, performing the state registration of the issues of issue-grade securities and of reports on issue results, and coordinating indicative terms of repo agreements, financial derivative agreements, and other agreements with securities and (or) foreign currency as the subject. The remit of the Department also comprises the maintenance of the registers of issue-grade securities, registered terms for the issue of savings certificates and certificates of deposit of credit institutions and unit investment funds, and the registered rules for trust management of mortgage collateral.
Corporate affairs management is a priority area in the Department’s work. The Department controls issuers’ compliance with Russian laws on securities and joint-stock companies, and is engaged in the state control over the acquisition of large blocks of public companies’ shares. The Department participates in the development of a publicly accessible system for information disclosure by issuers in the securities market, and monitors the timeliness and completeness of information disclosure by them.
The Department conducts annual monitoring of public companies’ corporate governance practices and includes its findings in the surveys published on the Bank of Russia website. Public companies and financial institutions are advised to apply best practices for improving the efficiency of their corporate governance systems.
Acting within its remit, the Department elaborates regulations governing the procedures for securities admission to the financial market and the issues related to corporate affairs and information disclosure, and prepares methodological documents.