On Bank of Russia Ordinance No. 3542-U of 23 January 2015

On 23 January 2015, the Bank of Russia issued Ordinance No. 3542-U, ‘On Amending Bank of Russia Regulation No. 345-P, Dated 27 October 2009, On the Procedure for Disclosing by Banks Information on Persons Exercising Control over or Material Influence on Banks that Are Members of the Mandatory Insurance System of Personal Deposits with Russian Banks’ registered by the Ministry of Justice of the Russian Federation on 19 February 2015 under No. 36112.

Bank of Russia Ordinance No. 3542-U obliges all banks that are members of the mandatory deposit insurance system to place information on persons exercising control over or material influence on banks on the Bank of Russia site. At the same time, the banks still have the opportunity to place this information on their web-sites.

Bank of Russia Ordinance No. 3542-U provides for transitional provisions committing banks that make information on persons exercising control over or material influence on them available only on their web-sites to send this information to a Bank of Russia regional branch (the authorised structural unit of the head office) for its placing on the Bank of Russia site within 90 days from the effective date of Bank of Russia Ordinance No. 3542-U.

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02.03.2015 00.00.00