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The Statute about kinds of derivative financial instruments has been registered in the RF Ministry of Justice of Russia


The Statute about kinds of derivative financial instruments has been registered in the RF Ministry of Justice of Russia
2010-04-23 08:00

NEWS OF THE FEDERAL LEGISLATION

The Statute about kinds of derivative financial instruments has been registered in the RF Ministry of Justice of Russia

By the Order of the Federal Service for Financial Markets of Russia N 10-13/pz-n of March 4, 2010 (document is in Russian) (has been registered in the Ministry of Justice of the Russian Federation N 16898 of April 14, 2010), there has been approved the Statute about kinds of derivative financial instruments . The Statute determines the requirements for consideration of a derivative financial instrument as option, futures, on-exchange (off-exchange) forward or swap contract. Besides, the Statute establishes, that derivative financial instruments can have more than one underlying asset, and there are determined such assets. The contract being derivative financial instrument can include so other terms and obligations, at that they are not taken into account at determination of kind of derivative financial instrument.

There are established the requirements to depositaries making record of the rights on securities of foreign issuers
2010-04-23 08:00

NEWS OF THE FEDERAL LEGISLATION

There are established the requirements to depositaries making record of the rights on securities of foreign issuers

By the Order of the Federal Service for Financial Markets of Russia N 10-19/pz-n of March 23, 2010 (document is in Russian) (has been registered in the Ministry of Justice of the Russian Federation N 16920 of April 19, 2010), it is established, that the period for depositary activity of the depositary making record of the rights on securities of foreign issuers shall be not less than 1 year, and services concerning to receiving of payments shall be granted to every depositor, rights of which are recorded by such depositary.

The amendments have been made to the RF legislation on activity of insurance companies, as well as on bankruptcy of financial institutions
2010-04-26 08:00

NEWS OF THE FEDERAL LEGISLATION

The amendments have been made to the RF legislation on activity of insurance companies, as well as on bankruptcy of financial institutions

By the Federal Act N 65-FZ of April 22, 2010 "On amendments to the Act of the Russian Federation "On organization of insurance business in the Russian Federation" (document is in Russian) and certain legislative acts of the Russian Federation" , it is considerably increased the minimum size of insurer's authorized capital, except insurer providing exclusively medical insurance as in the form of voluntary, so compulsory insurance. The Act specifies the procedure for licensing of insurance organizations.

So, the Federal Act has established the list of kinds of financial institutions and measures on prevention of their bankruptcy. There is putted the new special temporary body for administration of a financial institution - temporary administration of financial institution, the aims of which are repair of financial institution solvency and (or) providing preservation of financial institution property.

The Federal Act shall putt into effect upon expiration ninety days after the day of its official publication, except subclause "a" of clause 3 of article 1 of the Federal Act, which shall putt into effect since January 1, 2012.


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