Bank of Russia establishes Expert Council on Information Transparency

The Council has several objectives, the first of which is the development of Bank of Russia policies and strategies in terms of information transparency of public companies and the improvement of information disclosure practices of joint-stock companies. Second, it provides expert support to the regulator by enhancing information disclosure efficiency with respect to issuers and their securities.

The Bank of Russia expects that the Council will issue recommendations to update legislation and the regulatory environment, develop methodology of information disclosure, based on the views of market participants and analytical papers. In addition to this, the Council will most likely provide an expert assessment of draft laws and regulations and laws and regulations that are already in effect.

Members of the Council include representatives of professional associations in the field of information disclosure, infrastructure providers and representatives of investment community.

The Bank of Russia saw it necessary to set up the Council because of the relevancy of information transparency for Russian companies, its importance to add to the marketability of investment appeal of domestic business.