Our progress / MIFC News

05.07.2022 18:55 / TASS

The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.

05.07.2022 18:51 / TASS

The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.

05.07.2022 18:41 / TASS

Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.

17.05.2022 16:18 / TASS

Central Bank to launch cybersecurity education course  The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.

19.04.2022 16:49 / The Bank of Russia

Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.

15.04.2022 16:36 / TASS

The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.

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Plans on Proportional Regulation and Risk Based Supervision in Non-Banks

17.07.2018 07:31 / The Bank of Russia

The Bank of Russia has drafted and posted for debate the outlines of Proportional Regulation and Risk Based Supervision implementation in non-banks, and details of current regulation approaches.

At present, the majority of non-banks are proportionally regulated to a certain extent. This is a risk based approach, where regulatory demands correlate to the amount of risk taken on by non-banks. The level of risk is determined by two criteria: transaction type (qualitative) and transaction volume (quantitative). These criteria shape the non-bank’s risk profile.

Supervision implements proportional and risk based principles through more intensive and frequent review procedures depending on non-bank category and risk profile. The key transformation we expect in the future is to cut down on reporting for small non-banks. Also, in developing new reporting forms, the non-bank category will be a factor in deciding what info will be reported and how often.

The draft concept is set to reduce the regulatory burden for non-banks and enable preventive risk identification. Proportional Regulation and Risk Based Supervision implementation is in line with current financial market regulation and supervision trends, primarily focused on consumer rights protection, financial market development and stability.

“Proportional Regulation and Risk Based Supervision implementation in non-banks will help us promote the Russian financial market and build consumer trust. It reflects today’s economy and best international practices”, says Vladimir Chistyukhin, Deputy Chairman of the Bank of Russia. “Nevertheless, the variety of services in the financial market precludes us from a completely uniform approach to proportional regulation”.

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