Treatment on restoration of business reputation: addressing

The Bank of Russia publishes the review of practice of consideration of complaints on decisions on recognition of the person concerned was not qualified and (or) requirements to the business reputation.

The review is aimed at increasing transparency of work of the Commission of the Bank of Russia complaints and making available to participants in the financial market information approaches used by the Commission when making decisions.

To preserve confidentiality of personal data of the applicants review is a series of anonymised case studies prepared on the basis of complaints considered by the Commission in 2019, and a brief description of the decisions taken.

The Commission was established in accordance with the Federal law “On the Central Bank of the Russian Federation (Bank of Russia)” and from 28 January 2018 and investigates complaints of officers and owners of large blocks of shares (shares) number of credit and non-credit financial institutions to be recognized not corresponding to established requirements.

Under current law, the goodwill of the applicant can be restored, if they provided evidence of involvement in the Commission of acts (inaction), resulting in negative consequences for financial institutions. In this case, the results of the Commission’s decisions, the Bank of Russia eliminates information about the applicant from the appropriate database.

Statistical information on the Commission’s activities is published quarterly on the website of the Bank of Russia.

As of January 1, 2020 was included in the database information about 7504 persons whose activity is connected with financial institutions.

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11 Feb 2020