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31.07.2024
DEADLINES FOR NOTIFYING THE BANK OF RUSSIA ABOUT THE APPOINTMENT OF THE MANAGEMENT OF FINANCIAL COMPANIES HAVE BEEN CLARIFIED
The period for notifying the Bank of Russia of the election (termination of powers) of a member of the board of directors (supervisory board) by credit institutions, professional participants in the securities market, non-state pension funds, managers, and microfinance companies has been increased from 3 to 7 days. Similarly, the period for notifying the insurance supervisory authority about the election (termination of powers) of a member of the board of directors (supervisory board) of insurance organisations has been increased.
For the same organisations, the period for notifying the Bank of Russia (the insurance supervision body for insurance organisations) about the dismissal of persons from most management positions (with the exception of the positions of sole executive body and chief accountant) has been increased from 1 to 3 days.
Qualification requirements have been established for persons performing the functions of deputy sole executive body, member of the collegial executive body of an insurance organisation, management company, non-state pension funds, microfinance company.
 

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