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There have been extended the rights of sole executive body of subsidiary credit institutions


There have been extended the rights of sole executive body of subsidiary credit institutions
2010-07-27 08:00

NEWS OF THE FEDERAL LEGISLATION

There have been extended the rights of sole executive body of subsidiary credit institutions

By the Federal Act N 181-FZ of July 23, 2010 (document is in Russian), the additions have been putted to article 11_1 of the Federal Act "On banks and banking activity" (document is in Russian), pursuant to which a sole executive body of a subsidiary credit institution now has the right to take posts in collective executive body of a credit institution - parent company (except chairman post).

There has been specified the procedure for use of the names of "Russian Federation", "Russia" in names of non-commercial institutions
2010-07-27 08:00

NEWS OF THE FEDERAL LEGISLATION

There has been specified the procedure for use of the names of "Russian Federation", "Russia" in names of non-commercial institutions

By the Federal Act N 164-FZ of July 22, 2010 (document is in Russian), the amendments have been putted to article 4 of the Federal Act N 7-FZ of January 12, 1996 " On non-commercial institutions" (document is in Russian), which specify the procedure for inclusion to a name of non-commercial institution, except public associations having the all-Russian status and centralized religious organization, structures of which have been effected at the Russian Federation territory on legal grounds during not later then fifty years, of the official name "Russian Federation" and "Russia", as well as derivative words. It is permitted to include this names to the names of non-commercial institution under permit received in the procedure determined by the Government of the Russian Federation. In the case of recall of the permit, a non-commercial institution must to put according amendments in their constitutive documents during three months.

There has been approved the Procedure for accreditation of rating agencies and keeping of the registry of accredited of rating agencies
2010-07-27 08:00

NEWS OF THE FEDERAL LEGISLATION

There has been approved the Procedure for accreditation of rating agencies and keeping of the registry of accredited of rating agencies

In accordance with subclause 5.2.28.4 of clause 5.2 of clause 5.2 of the Statute about the RF Ministry of Finance (document is in Russian), by the Order of the Ministry of Finance of Russia N 37n of May 4, 2010 (document is in Russian), it is approved the Procedure establishing the procedure voluntary accreditation of rating agencies and keeping of the registry of accredited rating agencies by the Ministry of Finance of Russia. As accredited, there may be as Russian and foreign legal entities - rating agencies expressing with use of definite rating system (rating scale) the opinion about possibility and readiness of legal entities and public and legal formations timely and in full to execute their financial obligations. The purpose of accreditation is secure of building of trust to their activity by means of confirmation of their competence in assigning of credit ratings. Accreditation of international rating agencies is provided by means of registration of a separate subdivision (branch, representation) of an international rating agency, or affiliated with an international rating agency of a russian legal entity in the registry of accredited rating agencies.

  The Order has been registered in the Ministry of Justice of the Russian Federation N 17904 of July 19, 2010.


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