Bank of Russia to specify procedure for financial institutions to report on controlling persons
3 June 2021
News
Effective 1 July 2021, credit and insurance institutions and non-governmental pension funds are obliged to provide to the Bank of Russia information on their controlling persons. Criteria for such persons are outlined in the Law on Insolvency (Bankruptcy).
The Bank of Russia proposes draft regulations establishing procedures for submitting such information and requesting data from the list of controlling persons. The regulations specify the timeframe for such first-time submissions and rules for appealing against inclusion in the list.
The Bank of Russia website will be updated with template-based information about controlling persons of credit and insurance institutions and non-governmental pension funds.
Preview photo: A_stockphoto / Shutterstock / Fotodom