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Banking and finance

Alerts

31January2014
New Central Bank Approval Procedure for the Management, Directors and Shareholders of Credit Organizations
Pepeliaev Group advises that the new Regulation No. 408-P  of the Central Bank of Russia (“CBR”) comes into force on January 31, 2014. This establishes a new procedure for the CBR to approve candidates for management positions at banks, as well as to attest to the business reputation of Board members and shareholders holding more that 10% of the shares in the bank in question.