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.
Bank of Russia outlines information security priorities
16.09.2019 18:59 / The Bank of Russia
The documents sets out that information security of credit and non-bank financial institutions must be provided at the infrastructure, applied software and application levels. Additionally, the focus should extend to the safety of action / transaction processing and recording technologies. The regulator’s strategic objectives also include financial consumer and investor protection: these efforts are set to be based on objective data on consumer and investor loss.
The strategy sets out metrics the regulator will use to assess information security risk in each supervised entity across the three levels; this assessment will help determine the maturity of information security in the overall financial sector.
The metrics include, among others, compliance with federal standards for information protection, sustainable operations, risk management and outsourcing. Applications will need to be certified to qualify as properly protected. Risk concentration points in financial companies’ technologies will be identified on a proactive basis through analysis of data defining the level of risk in financial transactions, enabled by Big Data. To counter-balance risks identified, the Bank of Russia will present a methodology for calculating minimum coverage against potential loss (e.g., credit institutions’ capital buffers, independent guarantees, insurance, etc.).
The strategy sees that a holistic view of individual financial sector companies will emerge by 2021, detailing their preparedness to counter cyber attacks (from cyber risk handling and coverage perspectives) and – the degree of their preparedness to counter cyber threats.