The new regulatory system for medical devices in Russia will lead to improvements all around, but industry needs more guidance ay present. So says Vladimir Sokov, a senior partner and head of corporate division at Moscow-based legal firm Pepeliaev Group. In this interview with Ashley Yeo, he describes the new regulatory processes and explains that the market’s flatness at present is more to do with internal government issues than geopolitical unrest.
After the economic boom years form 2005 and 2008, lean times and a shortage of cash have hit the economy across the board.Only the most decisive and best resourced investors have carried on with their projects or even begun new ones. There were investors who, before the crisis, were receiving returns thanks to stock exchange bubbles and short-term speculation. Now, most of these have lost the bulk of their funds (securities are worth more or less the cost of the paper they are printed on).
The effective customs legislation of the Customs Union of Russia, Belarus and Kazakhstan envisages the following customs benefits for foreign investors who would like to localize manufacture of goods in Russia.
HR professionals were alarmed when a draft law to ban temporary agency work (TAW) was put before the State Duma in December 2010. Thanks to the business community working together with great dedication, this draft law remained a draft for almost three-and-a-half years. However, all good things come to an end. And the draft, after hundreds of editions, was passed into law on 5 May 2014 (Federal Law No. 116-FZ). The law will take effect on 1 January 2016.
Russian legislation in the M&A sector is actively developing.Two main M&A trends can be highlighted which may often not be mutually compatible. On the one hand, any legislator aims at facilitating M&A activity by way of setting a transparent legal environment and simplifying legal requirements. On the other hand, the rights and interests of all a company’s stakeholders (shareholders, employees, creditors etc.) need to be taken into consideration and protected.
A quarter of a century after the first international law firms moved into Moscow, booming workflows for both domestic and foreign practice have suddenly been affected by president Vladimir Putin’s aggressive moves towards neighbouring Ukraine, and the US and EU sanctions imposed on Russian individuals and companies.
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