Monitoring of the Federal Legislation dated 8.10.2008

Decision of the Government of the Russian Federation No. 744 of October 6, 2008 on the Endorsement of the List of Documents Confirming Observation of License Terms and Submitted by the Applicants to Get the Licenses for the Types of Activities Mentioned in the Federal Laws on Investment Funds and on Non-State Pension Funds

Improves state control over activities of joint-stock investment funds, management companies, specialised depositaries and non-state pension funds.

Order of the Federal Service for Financial Markets No. 08-37/pz-n of September 23, 2008 on the Amendments to the Order of the Federal Service for Financial Markets of Russia No. 08-11/pz-n of March 18, 2008 on the Endorsement of the Regulation on the Insurance Reserve of a Non-State Pension Fund

Changes the procedure of entry into force of the Order of the Federal Service for Financial Markets of Russia having endorsed the new regulation specifying the normative amount of the insurance reserve of a non-state pension fund, rules of its generation and use, as well as the procedure for making deductions to such reserve.

Decision of the Chief State Sanitary Physician of the Russian Federation No. 56 of October 1, 2008 on the Endorsement of SanPiN 2.3.2.2421-08

Adjusts hygienic safety and nutrient value requirements for foodstuffs.

Order of the Federal Service for Financial Markets No. 08-34/pz-n of September 11, 2008 on the Amendments to the Administrative Regulation on the Execution by the Federal Service for Financial Markets of the State Function of State Registration of the Issue (Additional Issue) of Emission Securities, Registration of Amendments to the Decision on the Issue (Additional Issue) and/or Prospectus of Securities, State Registration of the Report of the Results of Issue (Additional Issue) of Emission Securities, Registration of the Prospectus of Securities Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 07-8/pz-n of January 30, 2007

The amendments are stipulated by the recent adjustment of the standards of issue of securities and registration of prospectuses of securities, as well as the procedure of disclosing of information by issuers of emission securities.

Order of the Federal Service for Financial Markets No. 08-29/pz-n of July 17, 2008 on the Endorsement of the Regulation on the Procedure and Terms of Opening of the Transit Depo Account and Carrying Operations on the Transit Depo Account

Monetary resources handed over in payment for the investment shares of the shared investment fund when it is formed must be received on the transit account opened to form this shared investment fund, uncertified securities - on a separate depo account opened in the specialised depositary of this fund (transit depo account).

Direction of the Central Bank of Russia No. 2085-U of October 3, 2008 on the Amendments to Item 3.2 of the Direction of the Bank of Russia No. 1904-U of November 12, 2007 on the Requirements of the Bank of Russia to the Figures of Accounting Reports and Other Information on the Organisations with Liabilities in Promissory Notes (Credit Contracts) Granted by Credit Organisations As a Security of the Credits of the Bank of Russia

To determine the compliance of organisations, the Bank of Russia assesses the following figures: profitability of sales, correlation of own and borrowed resources, current liquidity factor (total coverage ratio).

Letter of the Central Bank of Russia No. 125-T of October 6, 2008 on the Rouble Equivalents of the Figures in Compliance with the Direction of the Bank of Russia No. 1755-U of December 11, 2006

Specifies the rouble equivalents of the minimum amount of the registered capital for credit organisations for the IV quarter of 2008.