Source: Central Bank of the Russian Federation in English
17 November 2020
From 1 January 2021, legislative amendments alleviating regulatory burden on financial market participants will come into effect. The list of internal documents of certain organisations to be registered or approved by the Bank of Russia will be reduced. These organisations include trade organisers, clearing houses, central counterparties, repositories, and central depositories.
In view of the above, the Bank of Russia has established the procedure and timeframe for submitting documents subject to registration or approval.
As a result, the central depository will have to submit to the regulator two documents and the rest of organisations — one document, whereas previously infrastructure organisations, depending on their types, had to submit to the regulator from three to eleven various documents (including risk management, internal auditing, and internal control rules).
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