The Ministry of Finance proposes to allow the Central Bank does not publish information on the reorganization, if the Bank or its management is under foreign sanctions. The bill is posted on the Federal portal of projects of normative-legal acts.
So, the Bank of Russia will be able to advise on the merger, accession, division, separation (creating one or more new banks while maintaining the same credit institution) or transformation (transfer of ownership form from LLC to JSC and Vice versa) of the Bank.
Under the existing rules, the regulator is obliged to publish this information during the day. Now he suggest not to disclose this information, if under sanctions was the Bank itself, its management, including the heads of branches, chief accountants and their deputies, as well as shareholders and persons who own 20 percent or more of the voting rights.
Thus, it is planned to reduce losses from the sanctions. In the justification of the draft decision States that the foreign restrictive measures can lead to losses for Russian individuals and legal entities and the purpose of the proposed action to reduce this negative effect.
However, even if the bill is passed, the Bank will be obliged by law to report the reorganization on its website and to notify the creditors, notes owned by Grigory Berezkin RBC. According to experts, the next step may be just getting rid of the banks from the obligation to disclose this information.
In June last year, the Ministry of economic development proposed Federal anti-monopoly service not to disclose information about impending transactions of large companies. Due to this, the backbone of the company, threatened sanctions, will be able to confuse the ownership structure.