A special recording procedure for certain securities will be in effect until the end of 2025
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30.06.2023
CASES WHEN TYPE ‘S’ ACCOUNTS TO BE USED - THE LIST HAS BEEN EXPANDED
With a Decision of the Board of Directors, dated June 9, 2023, the Bank of Russia has updated the procedure for using type ‘S’ accounts as a bank account, depo account and sub-account, brokerage account, special brokerage account, clearing and trading bank account.
29.06.2023
FROM JULY 1, 2023, THE PROCEDURE FOR REMOVING A SMALL AND MEDIUM-SIZED BUSINESS ENTITY FROM THE UNIFIED STATE REGISTER OF LEGAL ENTITIES IS SIMPLIFIED
Simplified procedure for removing of a small and medium-sized business entity from the Unified State Register of Legal Entities in the event that its founders (participants) take a unanimous decision to terminate the activities of such a legal entity. Information about the upcoming exclusion shall be entered into the Unified State Register of Legal Entities and posted on the website of the registration authority. The simplified procedure is applied under the simultaneous observance of a number of conditions.
The decision on the upcoming exclusion must be published in the press, which contains data on the state registration of a legal entity. Objections to the upcoming exclusion can be sent to the registration authority within three months. Creditors and other persons may appeal the exclusion of a small and medium-sized business entity from the Unified State Register of Legal Entities within a year from the day they learned or should have learned about the violation of their rights.
28.06.2023
THE CONSENT OF THE GUARDIANSHIP AUTHORITIES IS NO LONGER NECESSARY FOR THE EMPLOYMENT OF ADOLESCENTS
Amendments have been made to the Labour Code of the Russian Federation on the issues of employment of minors.
So, to conclude an employment contract with a teenager who has reached the age of 14, the consent of bodies of trusteeship and guardianship is no longer required. It is enough to obtain the written consent of one of the parents (guardian).
Employment of orphans and children left without parental care who have reached the age of 14 is possible with the written consent of the bodies of trusteeship and guardianship or other legal representative. These persons may be involved in restricted work that does not harm their health.
27.06.2023
CONTRACTS OF PERSONAL INSURANCE WILL CEASE TO BE PUBLIC
The provision according to which a personal insurance contract is a public contract has been excluded from the RF Civil Code.
Developers of these amendments explained that the amendments are related to fact that conditions under which personal insurance is carried out are individual, since they naturally depend on details of an insured person (age, state of health, etc.). In this regard, such relations do not fit into the structure of a public contract, which, as a general rule, implies the obligation of an economic entity to sell goods, works and services to any interested parties on equal terms (Article 426 of the Civil Code of the Russian Federation).
26.06.2023
FINES FOR PET OWNERS - IN CASE THEY PUT THEIR PETS OUT ON THE STREET
For inattentive or cruel treatment of animals, such as violation of conditions, or putting pets out onto the street, or causing damage, fines are introduced for individuals, companies and officials.
23.06.2023
BANK OF RUSSIA DECIDES TO KEEP THE KEY RATE AT 7.50% PER ANNUM
On June 9, 2023, the Bank of Russia decided to keep the key rate at 7.5% per annum.
According to the estimates of the Central Bank of the Russian Federation, annual inflation will be 4.5-6.5% this year and will return to 4% next year.
22.06.2023
WHAT’S NEW IN THE AUDIT LEGISLATION: CLARIFICATIONS FROM THE MINISTRY OF FINANCE
The RF Ministry of Finance informs of changes and innovations in the audit legislation:
- adjusted requirements for disclosure of information on the activities of audit organisations;
- ratified Agreement on implementation of audit activities within the framework of the EAEU.
21.06.2023
REQUIREMENTS FOR OPENING TYPE ‘C’ BANK ACCOUNTS (TRUST MANAGEMENT)
Until the end of 2023, requirements are valid for activities of professional participants in the securities market in terms of opening type "C" trust management bank accounts and type "C" trust management depo accounts.
A managing director must open type "C" depo accounts in his own name to record rights to securities under securities management agreements concluded with non-resident clients, except for non-residents that are not foreign creditors from unfriendly countries.
The manager must open bank accounts of type "C" in his name to account for money received to fulfill obligations to foreign creditors from unfriendly countries in the amount of more than 10 million roubles per month or a similar amount in a foreign currency equivalent.
20.06.2023
BANK OF RUSSIA CLARIFIED THE MODE OF ‘S’ TYPE ACCOUNTS
The mode of the ‘S’ type bank account of trust management is defined. It is allowed to credit, in particular, funds from residents on operations (transactions) authorised by a subcommittee of the Government Commission for the Control of Foreign Investments.
It is also established that S type accounts (except for a depo account and sub-depo account) may be credited with refundable amounts of taxes, duties, fees or other mandatory payments payable in accordance with budget legislation.
19.06.2023
PROPERTY OBTAINED AS A RESULT OF CYBERCRIMES TO BE CONFISCATED
Law on confiscation of property obtained as a result of crimes in the field of computer information was signed. There is talk about illegal access to such information, the creation, use and distribution of malicious programs, violation of the rules for the operation of storage, processing or transmission of computer information, as well as illegal impact on the critical information infrastructure of Russia.
16.06.2023
THE FEDERAL FINANCIAL MONITORING SERVICE WILL CAPTURE LEASEBACK TRANSACTIONS WITH INDIVIDUALS
Mandatory control of operations for the provision of property under a financial lease agreement to an individual is introduced, under which this individual acts as a seller of property that is the subject of leasing. This rule will apply to transactions in an amount of 100 thousand roubles up to 1 million roubles.
The introduced innovation is aimed at reducing the risks associated with the implementation of illegal consumer lending to individuals using the leaseback model.
15.06.2023
THE LABELLING OF SEVERAL MORE PRODUCT GROUPS WILL BECOME MANDATORY FROM SEPTEMBER 1, 2023
From September 1, 2023, mandatory labelling is introduced for biologically active food supplements, certain medical devices, antiseptics, wheelchairs, soft drinks and drinking water for children.
14.06.2023
FROM SEPTEMBER 1, 2023 - NEW RULES FOR CALCULATING AND CHARGING FEES FOR NEGATIVE ENVIRONMENTAL IMPACT
A fee is provided for the disposal of by-products of animal husbandry and production, as well as overburden and enclosing rocks recognised as waste.
13.06.2023
DISINFECTION WILL BECOME A LICENSED ACTIVITY FROM MARCH 2024
Disinfection, disinsection and deratization in order to ensure the sanitary and epidemiological well-being of the population will become licensed activities from March 1, 2024. The Federal Service for the Oversight of Consumer Protection and Welfare will issue licences.
Organisations and individual entrepreneurs engaged in the provision of the listed services in order to ensure the sanitary and epidemiological welfare of the population are required to obtain a licence for this activity no later than September 1, 2024.
12.06.2023
UPDATES IN THE LIST OF MALFUNCTIONS THAT PREVENT OPERATION OF MOTOR VEHICLES
The updated list is significantly wider than the current one. So, for example, the new edition includes a malfunction of the anti-lock braking system provided by the vehicle manufacturer. The List also includes an item prohibiting the application of coatings on glass that create a mirror effect, with the exception of rear windows, unless this is provided by the manufacturer. In addition, the List included the use of tires with anti-skid studs on vehicles in the summer (June, July, August), as well as the absence of winter tires on a vehicle of categories M1 or N1 in the winter (December, January, February) or the presence of winter tires, tires with anti-skid studs (if used) not on all wheels. The new edition of the List will come into force on September 1, 2023.
09.06.2023
RF GOVERNMENT APPROVED THE CONCEPT OF TECHNOLOGICAL DEVELOPMENT FOR THE PERIOD UP TO 2030
The main goals of the concept are the following:
- technological sovereignty;
- transition to innovation-oriented economic growth;
- technological support for production sustainability.
08.06.2023
FROM APRIL 1, 2025, THE INVENTORY TO BE CARRIED OUT IN COMPLIANCE WITH THE CORRESPONDING FEDERAL ACCOUNTING STANDARD
From April 1, 2025, the current Methodological Guidelines of the RF Ministry of Finance on the inventory of property and recognition of financial obligations will no longer be valid.
From that date, the inventory should be carried out according to the federal accounting standard "Inventory".
07.06.2023
THE CENTRAL BANK CLARIFIED HOW TO DISCLOSE INFORMATION ABOUT SUSTAINABLE DEVELOPMENT FINANCIAL PRODUCTS TO CUSTOMERS
ESG factors and attendant risks and opportunities are taken into account when developing and offering sustainable development financial products.
The recommendations provide financial institutions with basic principles for informing clients about financial products of sustainable development, establish principles of fair dealing, help prevent green-washing (distribution of conventional financial instruments under the guise of "green") and increase consumer confidence.
06.06.2023
FROM SEPTEMBER 1, 2023, CERTIFICATE OF STATE ACCREDITATION OF EDUCATIONAL ACTIVITIES MAY BE OBTAINED REMOTELY
It is decided to transfer the issuance of certificates of state accreditation of educational activities to an online format. A registry model for rendering public services for accreditation of educational institutions has been established. Other changes in the procedure for state accreditation are not envisaged.
05.06.2023
AN EXPERIMENT ON THE LABELLING OF SOFT DRINKS AND JUICES STARTS
From June 1 until the end of summer 2023, Russia will conduct an experiment on labelling certain types of soft drinks and juices. The list of drinks subject to labelling includes mineral and carbonated waters with added sugar, kvass, juices, compotes, fruit drinks, soy-based drinks, etc.
Manufacturers, importers, sellers and catering organisations participate in the experiment on a voluntary basis.
02.06.2023
FROM JUNE 1, 2023, RUSSIAN ‘GREEN CARDS’ WILL NO LONGER BE VALID IN THE EUROPEAN UNION
From June 1, 2023, the Bilateral Agreements concluded by the Russian Union of Motor Vehicle Insurers with the bureaus and unions of motor vehicle insurers of the member states of the European Economic Area, as well as Switzerland and the United Kingdom, the provisions of which provide for the mutual recognition of Green Card insurance certificates, are terminated.
For trips to other countries of the system, including Azerbaijan, Belarus, Moldova, Serbia and Turkey, Russian Green Cards are valid without restrictions.
To travel within the EU, Switzerland and the UK after May 31, 2023 with vehicles registered in Russia, drivers should purchase a cross-border insurance policy of the corresponding country at checkpoints.
01.06.2023
UNITY PARK TO BE BUILT IN RUSSIA
It is planned to create an innovative scientific and technological centre "UNITI PARK" in Russia. It is proposed to include the development of technologies in the area of energy security; health protection and living standards; advanced engineering technologies and new materials adapted to the conditions of the North and the Arctic.
Surgut State University is vested with the authority of the initiator of the project to create and ensure the functioning of the Centre.
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