Currency Regulation in the Russian Federation: Rules, Control, and Responsibility

With the support of Pepeliaev Group, Norma Press has published “Currency Regulation in the Russian Federation: Rules, Control, and Responsibility”, a new academic and practical course book by Ivan Khamenushko, Senior Partner with Pepeliaev Group, Ph.D. in Law, Assistant Professor at the Chair for Financial Law, Law Department of the Moscow State Lomonosov University. 

Setting out the basics of currency law, the book contemplates currency regulation as a branch of financial law. The book provides a definition of currency operations as well as how to classify them from the perspective of both legal theory and law enforcement.

The book considers current legislation and regulations, as well as decisions in the commercial (‘arbitration’) courts. Current legal acts include the Bank of Russia’s recent Guidelines No. 138-I e “On residents and non-residents providing to authorised banks documents and information connected with currency operations, on transaction passports being executed, and on authorised banks accounting for currency operations and control of such operations” dated 4 June 2012 (effective from 1 October 2012). The edition also takes into consideration the documents to harmonise Eurasian Economic Community (EAEC) law regarding currency regulation, effective as at the beginning of 2013.

The book provides a systematic overview of currency restrictions and prohibitions, analyses the system of currency control measures and investigates the administrative and criminal punishment which arises from the currency rules being violated.

The author of the book, Ivan Khamenushko, has been active in the field of theoretical and practical currency regulation and currency control for over 10 years. He specialises in: financial law, including budget law, tax law, banking law; currency regulation; legal regulation of securities markets; taxation of the power industry; taxation of the automotive industry; taxation of financial and investment institutions (banks, investment companies, leasing and insurance companies, pension funds); tax and currency matters arising in private banking; transfer pricing, etc. Mr Khamenushko is a lecturer at major Russian universities, offering his additional course in “Currency regulation and currency control in the Russian Federation” to students who opt for financial law.

The course book will be very useful to many specialists who handle currency regulation issues: employees with private companies, banks, state financial bodies, as well as students, post-graduates and academic staff at law schools and in law departments.