- Securities Register: The Central Bank of the Russian Federation (Bank of Russia) approved the provision “On requirements to implementation of activities for maintaining the Register of securities owners (No. 572-P as of 27.12.2016). The document sets the requirements related to the registration of documents, protection and storage of records, compilation of the lists of investment unit owners, mutual funds etc.
- Register of Insurance Business Associations: The Central Bank set the procedure of maintaining the Register of insurance business associations. The Financial Market Access Department was assigned to maintain the register in electronic format. On a monthly basis the following information on the web site of the Central Bank is published: full name of insurance business association, location, address etc.
- State Register of Debt Collection Agencies: The Ministry of Justice of Russia approved the regulation concerning the registration of legal entities engaged in the collection of overdue debt as the primary activity (Order No. 331 as of 31.12.2016) in the register of debt collection agencies. The Federal Bailiff Service is empowered to either approve or refuse a registration or amendments to information contained in the registry. Upon approval the Federal Bailiff Service will issue the certificate of registration.
Background: The government program “Information Society (2011-2020)” approved by the Russian Government in October 2010, continues to be implemented. In May 2017 the President of the Russian Federation signed the decree “On a new strategy for the development of information society in Russia for 2017-2030”. The implementation of this strategy is expected to raise the Russian information market to a new level, creating a national digital economy and contributing to the overall transparency of business transactions.
The goal is to offer individuals and companies the benefits of information and communication technologies by granting the equal access to public information sources, developing digital content and using innovative technologies. It should also improve the effectiveness of public sector regulatory and information security processes.
The Federal Notarial Authority announced legislative amendments (effective January 12017) aimed to improve the registration of collaterals of movable property. Information on collaterals is maintained by the Unified Information System of Notaries (UISN).
The data contained in the afore-mentioned registers is contained in the Information and Analytical System Globas-i® (https://globas.credinform.ru/en-GB/home/auth) (developed and maintained by Credinform, a Russian company data provider), which allows the gathering of all available public information on the requested company and assess the risks of conducting business with Russian counterparties.
Source: Credinform Russia