On Revocation of Banking Licence and Appointment of Provisional Administration
By its Order No. OD-188, dated February 24, 2014, the Bank of Russia has revoked the banking licence of credit institution Non-Bank Credit Institution Assignatsiya Limited Liability Company or NCO Assignatsiya LLC (Stavropol Territory, Ipatovo) with effect from February 24, 2014.
The Bank of Russia has made a decision on revoking the banking licence due to a repeated violation by the credit institution during a year of the requirements specified by Article 7 (except for Point 3 of Article 7) of the Federal Law “On Countering the Legalisation (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism” (AML/CFT).
NCO Assignatsiya LLC failed to comply with AML/CFT requirements in terms of the procedure and deadlines for reporting to an authorised body operations subject to mandatory control. Furthermore, the credit institution was involved in dubious large-volume operations with cash. In addition, internal control rules of NCO Assignatsiya LLC did not conform to Bank of Russia requirements.
By its Order No. OD-189, dated February 24, 2014, the Bank of Russia has appointed a provisional administration to NCO Assignatsiya LLC for the period until the appointment of a receiver pursuant to the Federal Law “On the Insolvency (Bankruptcy) of Credit Institutions” or a liquidator under Article 23.1 of the Federal Law “On Banks and Banking Activities”. In accordance with federal laws, the powers of the credit institution’s executive bodies are suspended.
As of February 1, 2014, NCO Assignatsiya LLC was ranked 900th by assets in the Russian banking system.
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24.02.2014 00.00.00