Practices
Industries

The Bank of Russia’s Letter on Dividend Policy Was Published

29 February 2024
The website of the Central Bank of the Russian Federation published Information Letter No. IN-02-28/9 dated 08 February 2024 “Information Letter of the Bank of Russia on Approaches to Determination and Disclosure of Dividend Policy (“Information Letter”). The Central Bank of the Russian Federation recommends that companies whose securities are admitted to organized trading (“PJSC”) develop and implement a transparent and understandable mechanism for determining the amount of dividends and their payment.

The Central Bank of the Russian Federation May be Authorized to Restrict the Granting of Risky Mortgage Loans

30 January 2024

On 24 January 2024, the State Duma Committee for the Financial Market proposed to adopt for consideration Draft law № 531412-8 “On Amending Article 45-6 of the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)"” (hereinafter - the “Draft law”).

The authors of the Draft law were a group of senators and deputies led by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market.

The Draft law proposes to authorize the Bank of Russia to limit the share of loans secured by a pledge of buildings, structures, land plots, construction in progress, residential and non-residential premises and parts of buildings or structures (parking spaces) intended to accommodate vehicles.

New Legal Requirements: Government Amendments

05 March 2022

On March 04, 2022, the Council of Federation has approved and sent to the President the Federal Law “On Amending Certain Legislative Regulations of the Russian Federation” (the “Law”). This Law provides for a number of changes in the regulation of procurement and circulation of medical products (“MP”) and medical devices (“MD”), corporate and financial relations, and even social matters.