ЦБ сообщает: Lifting the “corporate veil” and redrawing the limits of responsibility: who is the real winner? (Банк России)

INTERNATIONAL FINANCIAL CONGRESS
2 July 2021

Starting from July 2021, banks, insurance undertakings and pension funds will have to submit information on their controlling parties to the Bank of Russia – thus lifting the “corporate veil”. This would allow the regulator to identify financial institutions’ ultimate beneficiaries easier and faster and to hold them accountable for the institutions’ actions, if necessary.
The participants will discuss a range of related issues. Will the reform increase the effectiveness of holding accountable those responsible for financial institutions’ bankruptcies? Will financial institutions benefit from fully disclosing information about their controlling parties, or will they face an increased administrative burden? What agency will be authorised by financial institutions to verify whether the disclosed information on the controlling parties is accurate and complete?

See more: https://ifcongress.ru/index/en

Lifting the “corporate veil” and redrawing the limits of responsibility: who is the real winner?