Our progress / MIFC News

05.07.2022 18:55 / TASS

The State Duma adopted a law on tax support measures for citizens and businesses The State Duma adopted in the third, final reading a law on a set of measures for tax support of citizens and businesses in the face of sanctions pressure. The document was initiated by the government of the Russian Federation.

05.07.2022 18:51 / TASS

The State Duma adopted a law on the merger of the PFR and the FSS The State Duma at a plenary session on Tuesday adopted in the third reading a bill on the creation of a unified Pension and Social Insurance Fund (Social Fund of Russia), as well as a package of related initiatives, including amendments to the Tax and Budget Codes of the Russian Federation.

05.07.2022 18:41 / TASS

Duma passes IPO/SPO bill in second reading The State Duma adopted in the second reading a bill aimed at developing the institution of public placement of securities on the Russian financial market. The document, which amends the law "On combating the misuse of insider information and market manipulation," was initiated by a group of deputies and senators headed by Anatoly Aksakov, chairman of the State Duma committee on the financial market.

17.05.2022 16:18 / TASS

Central Bank to launch cybersecurity education course  The Bank of Russia will launch an educational course on cybersecurity in the 2023-2024 academic year at the Higher School of Economics (NRU HSE), announced Head of the Central Bank of the Russian Federation Elvira Nabiullina, speaking at Junior Pay Tech Forum 2022.

19.04.2022 16:49 / The Bank of Russia

Russian issuers to close foreign depositary receipt programmes A ban on issuing and trading in foreign depositary receipts for Russian issuers’ shares will come into effect on 27 April 2022.

15.04.2022 16:36 / TASS

The Central Bank of Russia rolls out new support measures for the financial sector The Central Bank has prepared a new series of measures to support the Russian financial sector, the regulator said in a release. The CB allowed banks until the end of the year to postpone the formation of reserves for possible losses in respect of assets that have been blocked abroad.

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Bank of Russia to Make Stress Tests Mandatory for NPFs

28.07.2016 14:09 / TASS

The Bank of Russia will make stress tests mandatory for non-state pension funds (NPFs) to measure accepted risks, says a newly published directive of 4 July 2016.

"Stress tests must be undertaken by funds in the event of change or planned change in composition of assets and liabilities or in significant change of market conditions but at least once quarterly", states the directive.

If the stress test fails, the fund is to draft and present to the Central Bank a capital adequacy ratio correction plan.

The directive introduces gradual implementation of risk management system requirements. Within six months, NPFs are to approve internal regulations and find staff to manage risks. After six months, funds are to identify risks and report them.

Within a year, funds are to ensure that their investment process is compliant with risk management requirements.

"Funds must perform stress tests 18 months after the directive has been enacted",states the document.

The directive has been filed for registration with the Ministry of Justice and will be enacted 10 days after official publication in the Bank of Russia Newsletter.

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